The Bulk Oil Storage and Transportation Limited Company (BOST) has issued a statement addressing recent reports regarding its acquisition of 18 iPhone 13 Pro Max devices for corporate executives, clarifying the actual cost of the purchase.

In their response, BOST acknowledged the procurement of the iPhones for their corporate executives in May of the previous year.

Contrary to the reported cost of over GH¢28 million, BOST clarified that the total expense for the phones amounted to GH₵234,000, which, when accounting for taxes, equaled GH₵285,412.16p. This accurate figure had been properly documented in the company's financial report.

Furthermore, BOST emphasised that their financial report had undergone scrutiny by the Auditor General, and no adverse findings were identified regarding this transaction.

Addressing the discrepancy in the reported amount, BOST explained that the figure of GH₵28,541,261.00 was due to a typographical error, specifically the misplacement of a decimal point, which inadvertently inflated the cost in the initial report.

The Company consequently urged the public to disregard the erroneous claim that the company had spent 28 million on the 18 iPhones, emphasising that such a figure was both incorrect and misleading.

BOST defended the purchase of the iPhones, highlighting their importance in enhancing communication and access to management information and business intelligence systems within the company.

It claimed that in the petroleum storage and transportation industry, timely decision-making is crucial, and phones play a vital role in facilitating efficient access to critical information.

"In the petroleum storage and transportation space, a split second can make the difference between success and failure. The results so far attest to the efficiency of the systems put in place, which includes the access points for key members of the team to access processed information for efficient decision-making," parts of the statement read.