BOST blows over GH₵1million on foreign travelling & transport – Audit report.

The 2020 Auditor-General’s report has revealed that Bulk Oil Storage and Transportation Company Limited (BOST) spent GH₵1,001,494.00 on foreign travelling and transport.

According to the report, BOST has management issues that has to do with cash management irregularities. The report cites loss of funds of US$5,129,170.05 at BOST due to lack of prudent planning.

The Auditor-General notes that management’s lack of due diligence in the disbursement of funds accounted for the many irregularities.

In a detailed view of the spending of the company, the Auditor-General reveals that it uncovered that the Bulk Oil Storage and Transportation Company Limited blew over GHS1 million on foreign travelling and transport alone.

Details of the spending can be found in the table below:

In addition, the Auditor-General notes that the management of BOST misapplied GH¢30,442,551.00 on unplanned activities, which could lead to delay in completion of other important planned projects.

The Auditor-General in its recommendation has advised the management of BOST to justify the misapplication and further desist from such act and operate within budget.