The Auditor-General’s Report has revealed some irregularities at the Northern Development Authority (NDA) in Tamale.

The NDA is said to have invested an amount of ¢5 million into an investment company, ManCapital Microfinance Ltd in 2015.

This was contained in the 2020 report on the audit of Ministries, Departments and other Agencies.

The NDA’s investment was done without the approval of the Finance Ministry.

According to the report, the ¢5 million investment which was made in December 2015 grew to ¢7,123,967,79 in June 2018.

However, Man Capital was among the 347 microfinance entities whose licenses were revoked by the Bank of Ghana during the cleanup of the sector.

Therefore, “the said amount remains unrecovered as a result of liquidity challenges.”

In this regard, the Auditor-General has recommended that the Authority takes steps to recover the total amount of ¢7,123,967,79.

The Northern Development Authority was questioned about an outstanding amount of ¢2,375,910 unaccounted for in the sale of some 2,037 tricycles.

The Authority sold the vehicles valued at ¢7,121,000 on credit, contrary to the Board’s directives.

“The authority was able to recover GH¢4,745,090.00 leaving a difference of GH¢2,375,910,” the report added.

It further recommended that “the CEO should recover the debt of GH¢2,375,910.00 from the beneficiaries, failing which the total amount should be recovered from the CEO and the Officers in charge.”

The Northern Development Authority(NDA) was set up by an Act of Parliament to provide a framework for the accelerated economic and social development of the Northern Development Zone (NDZ) and for related matters.

NULL Invalid API key or channelobject(stdClass)#8069 (1) { ["error"]=> object(stdClass)#8277 (3) { ["code"]=> int(403) ["message"]=> string(117) "The request cannot be completed because you have exceeded your quota." ["errors"]=> array(1) { [0]=> object(stdClass)#8239 (3) { ["message"]=> string(117) "The request cannot be completed because you have exceeded your quota." ["domain"]=> string(13) "youtube.quota" ["reason"]=> string(13) "quotaExceeded" } } } }