Confidential records obtained have exposed significant breaches in administrative procedure at the Minerals Income Investment Fund (MIIF). According to an audit by the Ghana Audit Service, the Fund’s board and senior management spent over GH¢11 million on foreign trips in 2024, none of which received the mandatory government approval.
The findings contradict a 2020 directive from the Ministry of Finance, which requires all public officers to seek clearance through the Office of the Chief of Staff before traveling abroad on official business.
The records show that MIIF leadership undertook these trips without authorisation from the Chief of Staff, the sector minister, or the Chief Director, despite clear guidelines issued in October 2020 governing foreign travel.
Auditors attributed the infraction to MIIF’s disregard for the established approval processes. When confronted, MIIF’s Head of Human Resources insisted that travel requiring the signatures of the Chief Executive Officer or Chief Director was appropriately cleared.
He added that for staff above Director level, the HR and Administration Department acted based on instructions from the CEO’s secretariat, with all supporting memos available for review.
Former MIIF CEO Edward Nana Yaw Koranteng also argued that the Chief of Staff had been informed about the trips. However, auditors noted that no documentation was provided to prove this communication.
The issue resurfaced when Acting MIIF CEO Justina Nelson appeared before the Public Accounts Committee. She defended the expenditure, stating that the foreign travel and related conference costs were essential to increase the Fund’s visibility and support operations in its newly established office.
Further scrutiny of MIIF’s financial statements revealed additional concerns. Over a two-year period, the Fund paid more than GH¢2 million in sitting allowances. In 2024 alone, the board, made up of nine members, received GH¢1.2 million, with nearly GH¢1 million disbursed in 2023.
