CASELEY-HAYFORD FINGERED IN GH70K CONTRACT IN GCMC PROBE

Occupy Ghana’s Chartered Accountant, Sydney Caseley-Hayford has been identified to have allegedly received an amount of seventy Ghana cedis as a financial consultant to Ghana Cylinder Manufacturing Company (GCMC).

According to a document seen by thyreporter.com, the financial Consultant, analyst and columnist was contracted by the Chief Executive Officer of GCMC, Frances Essiem at a contract sum of Sixty Thousand cedis plus additional Ten Thousand cedis totaling Seventy Thousand cedis with no deliverables. The Consultant failed to prepare the 2017 supplementary budget and final report.

The Board of GCMC is presently probing Frances Essiem over some financial malfeasance and her conduct as Chief Executive Officer.

‘At the meeting of the Board on the 5 of April 2018, members unanimously asked me to formally, write to you, to demand answers for the reasons why you awarded contracts without the Board or Ministry’s clearance’? a letter dated 13 April,2018 under the hand of Hon. Frank Boakye Agyen read.

The CEO was asked to explain why she took a unilateral decision to contract loan to pay workers for February 2018 without the Board’s approval?

She was accused for singlehandedly ordering the company’s disused machinery to be sold as scrap without due process, and demanded her to prove if she did comply with laid down procedure?

The Board has by a resolution restrained Frances Essiem from disbursement from the stimulus package of Five Million Ghana Cedis (GHc 5,000,000) Government sought for GCMC.

The former National Women Organizer of National Democratic Congress (NDC) and failed parliamentary candidate of the New Patriotic Party in the Adenta Constituency in the Greater Accra has since threated the letter from the Board Chairman and a former Member of Parliament with gross disregard, as she refused to respond to the query from the Board but rather, serving notice to the Board Chairman to back-off if he want to continue as Board Chairman or get himself sacked because She (Frances Essiem has come far with President Akufo-Addo

GCMC is heavily indebted to the tune of GHc 37 million as 31 March 2018 as a result of over-invoicing and over-blotting of contracts awarded to cronies and relatives of the CEO.

Out of the several blotted contracts is Sydney Caseley-Hayford’s seventy thousand consultancy charges without deliverables.

Some of the contracts include;

Procurement of office furniture for GHc 250,430
Procurement of Hand Gloves at GHc26,537.38
Construction of a canteen at GHc 484,575.59
Construction of offices at GHc 373,339.50
Renovation of Bungalow at GHc 127,341.90
New plant at GHc26.4m
Frances is alleged to have recruited and sacked three Finance and Managers from the company for failing to dance to her tune(s).

Impeachable information to thyreporter.com, reveals that GCMC outstanding debt with its suppliers is about USD$ 1.4m, and that the company was unable to pay for raw materials bought on credit with zero interest.

As at press time, the Chief of Staff, Energy Minister and Executive Chairman, State Enterprise Commission who were all copied by the Board are still acting adamant.