Management of Ghana National Gas Company Limited has dismissed allegations of wrongdoing in its recent insurance contract arrangements, insisting that all procedures were lawful and conducted in accordance with established due process.
In a statement issued on Monday, April 13, Head of Corporate Affairs Richard Ernest Kirk-Mensah categorically stated that “no wrongdoing has occurred,” adding that the revised insurance arrangements form part of an improved risk management framework designed to better safeguard the company’s assets.
The response follows media reports suggesting possible irregularities in the transition from the company’s previous lead insurer to a new provider. Although the statement did not identify the insurers involved, management explained that the change resulted from the routine expiration of existing contracts at the end of the year.
Ghana Gas further indicated that all procurement processes associated with the new arrangements received the requisite approvals. According to the company, the contracts were cleared by the Public Procurement Authority and supported by commitment authorisations from the Ministry of Finance.
Mr Kirk-Mensah emphasised that the company remains committed to transparency, accountability, and sound governance. He noted that, as part of standard institutional practice, Ghana Gas will continue to review and strengthen its internal controls where necessary to ensure compliance and effective risk management.
The company, a key entity in Ghana’s energy sector responsible for processing and transporting natural gas for power generation and industrial use, stated that despite the controversy, its core mandate remains unchanged. It reiterated its focus on delivering gas efficiently to meet national energy demands.
While no timeline has been provided for a possible independent investigation, the Board of Ghana Gas reaffirmed its commitment to stakeholders and pledged to uphold high standards of corporate governance amid growing public scrutiny of procurement practices within state-owned enterprises.
