Former Finance Minister Dr. Mohammed Amin Adam has dismissed allegations that the New Patriotic Party (NPP) misused tax revenue funds during its administration.

Speaking on Joy News’ PM Express on Monday, March 17, he strongly defended the government’s handling of the tax refund account, stressing that its use was in line with legal provisions governing public funds.

“Well, I didn’t know what the Minister wanted to say because the tax refund account is part of government revenue, right? It’s always been part of government revenue collected by the Ghana Revenue Authority,” Dr Amin Adam stated.

He explained that 6% of government revenue is earmarked for tax refunds, but any portion of that which remains unused is legally permitted to be used as part of the government’s general revenue.

“It is set aside to pay tax refunds, and to the extent that part of it is not used for tax refunds, the law allows that to be used as regular revenue of the government,” he clarified.

Addressing concerns about whether the funds were diverted inappropriately, he pointed out that Ghana operates a single Treasury account system, meaning funds can be moved around as necessary for government spending.

“You know that, as we say often, money is tangible, right? You move money around from different accounts because it’s a pool.

"We are running a single Treasury account system, so irrespective of what the account name is, the Controller General can fall on it when the need arises,” he explained.

When asked about the legal framework surrounding the tax refund account and whether unused funds should be returned to the consolidated fund, Dr Amin Adam reaffirmed that the process is standard practice.

“But the consolidated fund is what I’m talking about. You have to spend it, and so I don’t know what the finance minister means by that. If it’s been spent, it has been spent,” he said.

He challenged critics to provide evidence that the funds were misused, stating that the real question should be whether the money was channelled through the proper government accounts.

“Ask them if it was spent through the consolidated fund or not. Well, I’m waiting for them to come out with what they think we have spent it on,” he challenged.

Responding to claims that the funds were used to pay for contracts awarded by the state, particularly SML, he pointed out that all government spending—including on infrastructure and public services—is executed through contracts.

“But what is the consolidated fund used for? The fund is used to pay for the execution of contracts. All the projects that are being done across the country are done through contracts. And when the contracts are executed, they are paid for—the road contracts, services contracts, and others,” he stated.

Dr. Amin Adam’s comments come in the wake of scrutiny over the NPP administration’s financial management, particularly regarding tax revenue.

While the current Finance Minister has raised concerns over the use of the tax refund account, Dr Amin Adam insists that the funds were legally utilised and accounted for, reinforcing the argument that there was no mismanagement or diversion.