Public sector financial irregularities surge by 109%

Financial irregularities in the operations of public boards, corporations, and statutory institutions surged by 109% in 2024, rising from GH¢8.8 billion in 2023 to GH¢18.4 billion, according to the latest Auditor-General’s report.

The sharp spike reverses a downward trend observed over the past two years and raises fresh concerns about worsening financial oversight and weak public fund management.

The report indicates that irregularities increased across all categories except payroll-related issues, which declined significantly from GH¢8.7 million in 2023 to GH¢191,601 in 2024.

Of the total GH¢18.4 billion flagged, GH¢15.57 billion is classified as recoverable. These include unpaid taxes, locked-up investments, outstanding loans to employees, inter-agency debts, and unretired imprest.

The remaining GH¢2.84 billion relates to administrative issues such as procurement infractions and procedural delays. While these do not amount to direct financial loss, they reflect poor compliance with public financial management regulations.

The Auditor-General emphasized the need for urgent action to address the lapses:

“We recommended strict implementation of our recommendations to ensure financial discipline in the management of public resources.”

With mounting pressure on public finances, the report reinforces calls for stronger oversight and timely recovery of misused or outstanding public funds.