[ 2015-04-24 ]

BDCs reject fake audit report
Chamber of Bulk Oil Distributors has rejected
accusations of fraud being levelled against them
based on an audit of their business dealings with
the Bulk Oil Storage Company.

According to a report in the state-owned Daily
Graphic, the audit covered a three year period and
suggest that there has been collusion between the
BCDs and some officers of BOST to under value the
quantum of storage services provided.

It also suggests that the BCD’s rather owe BOST
and in effect government.

However, Senyo Hosi, Chief Executive of the
Chamber of Bulk Oil Distributors told Joy News the
document the media relied on for their report was
“totally doctored” and “fake”.

“I have every reason to suggest that none of the
words reflect on any audit yet to be
commissioned,” he said.

Mr. Hosi said it would be impossible for the bulk
oil distribution companies (BDCs) to overdraw from
BOST under the period the disputed draft audit
report claimed. BOST had no strategic stock
throughout the period in question and the BDCs
have served as strategic reserve, he explained,
“so there is no way you who had nothing I can
steal from you or I can draw from you; it is just
not possible”.

Meanwhile, the Ghana Chamber of Bulk Oil
Distributors in a statement described the report
as “completely false”.

“We are by this appealing to all Bulk Oil
Distribution Companies, oil financing banks and
the public to remain calm in the face of these
unfounded allegations.”

Below is the full statement
RE: ANTI-CORRUPTION DRIVE: MASSIVE FRAUD EXPOSED
--- BOST OFFICIALS, BDCs CITED.
RE: BDCs CONFESS TO COLLUSION WITH PUBLIC SERVANTS
AT BOST TO LOOT STATE COFFERS
It has come to the attention of the Management and
Board of the Ghana Chamber of Bulk Oil
Distributors (CBOD) a publication on the front
page of the Daily Graphic and Daily Post on
Thursday, 23rd April, 2015, and captioned as
above.

To the extent that the allegations contained in
the publication are completely false, and impute
serious criminal conduct to unnamed Bulk Oil
Distribution Companies, CBOD is giving it the
seriousness it deserves. It must be noted
unambiguously that:

1. There has been no fraud on the part of industry
in our dealings with BOST.

2. Neither has industry connived with any
officials to loot the coffers of the State.

3. There are no confessions to any collusion to
loot coffers of the State.

The attempt by perpetrators of the story to blend
voice recordings of evidence given in camera at
sittings by a committee set up by the Energy
Ministry, to look into complaints by BDCs against
some BOST officials, held 3 yrs ago, with an
unrelated stock reconciliation audit is most
disingenuous and unfortunate.
The Board in consultation with management has
resolved to organize a press conference on Monday,
April 27th, 2015 to address the allegations of
fraud.

We are by this appealing to all Bulk Oil
Distribution Companies, oil financing banks and
the public to remain calm in the face of these
unfounded allegations.

Thank you and God Bless Our Homeland Ghana!

Source - Senyo Hosi - CEO

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