Former MASLOC Boss Cited For Fraud


An audit report into the operations of MASLOC under the erstwhile NDC administration has indicted former MASLOC boss and workers for fraud and financial impropriety.

The report which was intercepted by journalists cited the former CEO at MASLOC Sedina Tamakloe Attionu, her predecessor Bertha Sogah and head of operations and Finance at MASLOC of widespread acts of corruption, inflation of prices for projects with several millions of cedis misappropriated.
The report indicates that Mrs Tamakloe had withdrawn ¢500,000 MASLOC invested at Obaatampa Microfinance but failed to pay the amount into the accounts of MASLOC.

According to the report MASLOC invested the amount in a 91-day fixed deposit with Obaatanpa Microfinance Ltd at an interest rate of 26% per annum on July 2014. However, the former CEO in a letter dated 28th August 2014 instructed Obaatanpa to terminate the investment and payback the amount. Even though there is evidence of the amount paid to Mrs Tamakloe there is no evidence of same paid in the account of MASLOC.

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“Mrs Sedina Tamakloe should be held responsible for the refund of the amount of GHS 500,000 with interest in accordance with regulations 61(5) of the Financial Management Act, 2003 (654)” the auditors recommended.
Again an amount of over 2 million cedis said to have been approved in 2016 for implementation of sensitization programmes across the country’s regions cannot be accounted for the report held.

According to the report, MASLOC planned outreach programmes in all 10 regions in 2016. A budget of 1,706,000.00 was approved by MASLOC Board at its 27th General meeting held on April 26 for the execution of the programmes. It was discovered that 24 payment vouchers were prepared with a total of 2,044,780.00 was said to have been withdrawn.
Checks by the Audit report committee at the various regions also indicate there was no trace of the programmes for which the monies had been disbursed.
According to the auditors, there was also no record of refund of the monies even though there is evidence the projects for which monies were released were all ghost projects.
The audit report insists Mrs Tamakloe must be held responsible for the misappropriation of the amount and be made to refund.