The chairman of the GOIL Board of Directors is accusing president Nana Akufo-Addo of breaching procedures in his appointment of a new Chief Executive officer of the company.

According to William Asumaning GOIL is a public listed company on the Ghana Stock Exchange with its own regulations which makes it impossible for the president to appoint or disappoint a CEO without observing the necessary procedures.

He is convinced the president did not follow due procedures in his new appointment of the GOIL CEO.

The statement signed by the CEO is in reaction to media reports that President Nana Akufo-Addo has appointed Mr. Osei Prempeh as new GOIL CEO.

The reports also suggested the president made appointments to the Forestry Commission and the Ghana Health Service.

William Asumaning pointed out that GOIL is not aware of any appointment of a CEO.

The full statement is as follows;

STATEMENT BY GOIL BOARD ON APPOINTMENT OF A NEW CEO

Information available to the GOIL Board per a publication on Ghanaweb on Friday, the 24th of February, 2017 captioned "Nana Addo Picks New Heads for Forestry Commission, Ghana Health Service and GOIL" indicates that the new CEO appointed for GOIL is one Mr. Osei Prempeh.

The Board would like to draw the attention of the SHAREHOLDERS and the public to the fact that GOIL is a public listed company on the Ghana Stock Exchange with its own Regulations. The Regulations state the process through which a CEO can be appointed or removed.

The Board would like to state emphatically that it is not aware of the observance of such processes as stated in the regulations leading to the appointment of any CEO and that we as a Board have not made any such appointment.

SIGNED.

Prof. William Asumaning (Board Chairman)