The Criminal Investigations Department (CID) of the Ghana Police Service has begun questioning officials allegedly involved in corrupt practices at the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA).

The affected officials were named in a report submitted by the ministerial committee instituted to investigate alleged fraud at the State agency following serialised reports by Joy News on questionable contracts the agency entered with some private companies.

Addressing a gathering of Muslims at the Independence Square, Accra, to mark Eid ul-Adha celebrations Tuesday, President John Mahama said: "we are implementing the recommendations".

"Those who were indicted in the report; I am happy to say the CID has invited them and commenced investigations,” he announced stressing his government is taking action on issues of corruption which has been brought to their attention.

He stated that if the indicted persons are found culpable, “the dockets will be prepared and given to the Attorney General in order that they will be prosecuted.”

Meanwhile, President Mahama has given the assurance that the current economic hardship facing the nation will be over by next year. According to him, the nation will "begin to see some good results from 2014.

"Ghana has very bright economic prospects and we are going to harness those prospects to create a decent and dignified life for all our people.

“We are experiencing some challenges with the economy. I want to assure you that these challenges are temporary...and I assure you that from next year, you will begin to see some good results".

The president also reiterated the nation's preparedness to counter terrorists attacks on the nation.

He, however, cautioned Ghanaians to be observant of any suspected acts of terrorism in the country.

“Let's not take things for granted. No country or person in this world is free of the scourge of terrorism. We thank God Islam and Christianity has lived in peace in our country for a very long time. We thank God for the peaceful co-existence we have among the various religions in our country.

"I also thank the various religious leaders. I have never seen so much corporation among the religious leaders like the one we have in our country. But let us not let down our guard. Let us be vigilant and observant."