Strategic Mobilisation Ghana Limited (SML), the company accused of receiving a questionable 10-year contract from the Finance Ministry under the leadership of Ken Ofori-Atta, has responded to the allegations.

The company stated that The Fourth Estate documentary, which outlined the controversial nature of the contract, contains misrepresentations and false claims.

In a press release from its Public Relations Unit on Tuesday, December 19, SML emphasised that its contract with the Finance Ministry and the Ghana Revenue Authority (GRA) is for 5 years, not the reported 10 years.

Additionally, the company refuted the assertion that it receives a substantial $100 million annually for its services.

“The documentary represents a set of misrepresentations, false claims, and a general lack of understanding of the entire operations of the company. We challenge Fourth Estate to produce any contract anywhere that is for a 10-year period.”

“The 5th PPA Board at its 46th Board meeting in a letter referenced PPA/CEO/09/2286/23 approved a contract duration of five (5) years.”

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“Again, it’s NOT TRUE that SML takes $100 million annually from its contract. The contract, which is yet to be operationalized, per their projections leads them to that claim,” an excerpt of their statement said.

A report by the Fourth Estate raised questions about the contract's validity, with the Finance Minister Ken Ofori-Atta expanding it and estimating a potential cost of $100 million to the state over the next decade.

Under the terms of the contract, SML is tasked with monitoring and reporting fuel product diversion and dilution, as well as overall noncompliance in the petroleum industry.

Read also: 10-year questionable contract by Finance Minister gives SML over $100 million annually despite false claims

This responsibility was previously carried out by the National Petroleum Authority (NPA).

Following this, the Minority in Parliament has called for a full-scale parliamentary probe into the contract between the government and the private entity.

The aim is to safeguard billions of cedis that might have been lost in the downstream petroleum sector.