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MARKET is Ghana’s oil revenue watchdog
• The board of directors of the newly reconstituted PIAC has been tasked with fulfilling its mandate.
• John Kumah said PIAC must continue its mandate of efficient use of petroleum resources
• The new PIAC Board of Directors will be chaired by Professor Kwame Adom-Frimpong
The newly reconstituted Board of Directors of the Public Interest and Accountability Committee (PIAC) has been tasked with wisely carrying out its mandate by ensuring that citizens benefit from the exploitation of Ghana’s oil resources.
Deputy Finance Minister John Kumah, speaking at the inauguration of the board of directors on Tuesday, September 28, 2021, stressed that PIAC, since its inception, has had a positive impact on management and use of oil revenues in the country.
“The government’s recognition in this regard is demonstrated not only by ensuring stable financial support for its programs and providing office space for the Secretariat, but even to the extent that President Nana Addo Dankwa Akufo-Addo himself was present to kick off PIAC’s 10th anniversary celebration on March 25, 2021 in Accra, ”said Kumah.
He added: “Your appointment is a call to public service, and I am confident that you will justify the trust that your appointing institutions, the government and the people of Ghana have placed in your diverse expertise and capabilities. “
The Deputy Minister of Finance added that the government was keen to engage and support PIAC if necessary, while respecting the independence of the Committee as set out in its law.
Meanwhile, the board of directors of the newly reconstituted PIAC will be headed by Professor Kwame Adom-Frimpong.
The other board members are Mr. Nasir Alfa Mohammed, Ghana Bar Association; Mr. Bashiru Abdul-Razak, Ghana Extractive Industries Transparency Initiative; Ms. Clara Beeri Kasser-Tee, Independent Policy Research Think Tanks and Odeefuo Amoakwa Buadu VIII, National House of Chiefs.
PIAC was first established in 2011 by Article 51 of the Petroleum Revenue Management Law of 2011 (Law 815), as amended and inaugurated to serve as an independent statutory body mandated to promote transparency. and accountability in the management of oil revenues in Ghana.
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