President John Dramani Mahama has issued a strong warning to Chief Executive Officers of State-Owned Enterprises (SOEs), stating that failure to submit audited accounts and annual reports by the deadline set by the State Interests and Governance Authority (SIGA) could cost them their jobs.
Speaking at a diaspora town hall meeting on Sunday, May 31, Monitored by Journalist and Blogger Andre Mustapha Nii Okai Inusah, the President stressed that government is intensifying oversight of SOEs as part of broader efforts to improve accountability, enhance efficiency, and strengthen economic management.
He revealed that several state institutions have operated for years without submitting audited financial statements or annual reports—an issue he described as unacceptable and harmful to national development. According to him, such lapses contribute to financial losses that ultimately become liabilities for the state, increasing pressure on public finances and undermining economic stability.
President Mahama noted that government has now made the submission of audited accounts and annual reports a key performance indicator for all chief executives of state enterprises, emphasizing that compliance will no longer be optional.
“We found out that some state-owned enterprises had not presented annual reports or audited accounts for seven years. I mean, who runs an organisation like that for seven years without audited accounts and annual reports?
“So we have made the submission of audited accounts and annual reports part of their key performance indicators. I’ve told the CEOs that State Interests and Governance Authority has set a deadline, I think by the middle of this year. If you have not presented your audited accounts and you have not presented your annual report, the road is your face, you go home,” he said.
The President warned that CEOs who fail to meet the deadline risk being dismissed, reinforcing government’s push for stricter financial discipline within SOEs.
Despite the tough stance, he expressed optimism about ongoing reforms, noting that several state-owned enterprises are beginning to show improved performance under enhanced monitoring and governance reforms.
