Samuel Dubik Mahama, the former Managing Director of the Electricity Company of Ghana (ECG), has defended the company’s handling of revenue following an audit report that uncovered a GH₵490 million discrepancy.

In an interview on JoyNews’ The Pulse on January 16, Mahama argued that under-declaration of funds is not a criminal offense, and that the discrepancies arose because ECG needed to retain funds for operational costs, including salaries and maintenance, before remitting the remaining revenue to the state.

He also attributed the financial challenges to external factors such as fluctuations in the foreign exchange market, where the rising value of the US dollar has increased costs.

The audit, which is part of the 2025 Ghana Energy Sector Recovery Programme (GESRP), found that ECG under-declared GH₵490 million between October and December 2023, raising concerns over financial oversight at the state-owned utility.

Source:TheDotNews