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MASLOC Audit Report A ‘Malicious Diversionary Tactic’ – Former Dep. CEO


An immediate past Deputy Chief Executive of the Microfinance and Small Loans Centre, MASLOC, Mustapha Abubakari, has described as mischievous and diversionary, the forensic audit report indicting the immediate past Chief Executive of the Centre, Sedinam Tamakloe Attionu.

According to him, the former CEO had previously responded to all the claims made against her and proved her innocence.

Speaking to Citi News, Mustapha Abubakari said, “if this is not mischief, and trying to just cover up because of the corruption NDC wants to expose on NPP, what is it about.? It is a diversionary tactic” he stated.

“Sedina Tamakloe Attionu has been at EOCO on several occasions. She has responded with her lawyers on this particular matter. If not for diversionary or malicious purposes, whoever leaked this report should have had the response of the former CEO.”

A forensic audit by the Economic and Organised Crime Office (EOCO), into the operations of the Microfinance and Small Loans Centre (MASLOC) under the Mahama administration, has unearthed what it calls a massive misappropriation of funds at the Centre.

The report, which was sighted by indicted Sedinam Tamakloe Attionu, and her predecessor, Bertha Sogah.

The report was initiated when the current CEO, Stephen Amoah, took charge of the Centre.

The report, among other things, revealed that MASLOC invested an amount of GHc 500,000 in a 91-day fixed deposit with Obaatampa Microfinance Company Limited, at an interest rate of 25% per annum on July 24, 2014.

The former CEO, Sedina Attionu, in a letter dated August 28, 2014, however instructed the microfinance company to terminate the investment and pay back the amount. However that repaid amount could not be traced, according to the audit report.

The auditors recommended that Sedinam Tamakloe “should be held responsible for the refund of the amount of GHS 500,000 with interest in accordance with regulations 61(5) of the Financial Management Act, 2003 (654).”

Over GHC 1 million for outreach programmes

The report further indicated that MASLOC planned for outreach programmes in all ten regions in 2016, adding that a budget of GHc 1,706,000.00 was approved by MASLOC Board at its 27th General meeting held on April 26 for the execution of the programmes.

Meanwhile, the current CEO of MASLOC, Stephen Amoah has said some persons indicted in the report may face prosecution for their respective roles in the alleged misappropriation of funds at the Centre.

Speaking on Point Blank oEyewitness News on Wednesday, Mr. Amoah however said some of the offenses require that those indicted are surcharged.

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