A recent audit report has revealed that the Board of the Minerals Income Investment Fund (MIIF) spent more than GH¢11 million on foreign trips in 2024 that were not approved through the required procedures.
According to the findings, several overseas travels undertaken by members of the Board did not receive prior authorisation from the appropriate oversight bodies.
The audit report indicated that the trips were funded with public money but lacked the necessary documentation, approvals, and justification to meet standard public financial management rules by the board of MIIF.
In 2020, the Ministry of Finance introduced a policy requiring all public service officials to obtain prior authorisation before embarking on official foreign travel.
The travel policy in 2020 primarily involves directives to ensure all public servants obtain prior approval for official travel, clearance through the Chief of Staff for foreign trips, and specific rules for vehicle usage and allowances.
However, the management of the Minerals Income Investment Fund (MIIF) failed to comply with this requirement.
A confidential report by the Ghana Audit Service reveals that members of MIIF’s board and senior management spent over GH¢11 million on foreign travel in 2024 without securing the mandatory approvals.
According to the audit, the trips were undertaken without the consent of the Chief of Staff, the sector minister, or the Chief Director, as required by law.
The Ministry of Finance’s Administrative Guidelines for Foreign Travel Allowances—issued in October 2020—state that public officers at the rank of Director and below must seek clearance from their sector minister or relevant Chief Director. The report indicated that these procedures were not followed.
Auditors concluded that MIIF’s disregard for the directive resulted in significant procedural breaches.
Responding to the findings, MIIF’s Head of Human Resources claimed that all trips which required authorisation from the Chief Executive Officer or Chief Director had been properly cleared.
He explained that for international travel involving officials above the Director level, the HR and Administration Department acted on directives from the CEO’s secretariat, and all related memos were available for inspection.
Former MIIF CEO Edward Nana Yaw Koranteng also insisted that the Office of the Chief of Staff had been notified about the travels. But auditors noted that no correspondence was provided to support his assertion.
When the Acting MIIF CEO, Justina Nelson, appeared before the Public Accounts Committee, she defended the high expenditure on travel, conferences, and related engagements.
She explained that the spending was necessary to promote the Fund’s visibility and operational capacity, particularly following the establishment of its new office.
A separate audit of MIIF’s financial statements and annual reports also uncovered more than GH¢2 million spent on sitting allowances over two years.
In 2024 alone, the Fund paid out GH¢1.2 million, while nearly GH¢1 million was disbursed in 2023. The board during that period had nine members.
The audit report also showed that the board members received over GH¢2 million in sitting allowances over two years.
Individuals cited in the audit were reached out to for comment, but they declined to respond.
JoyNews intercepts confidential report revealing how MIIF’s board and key management spent over GH¢11 million on foreign travels in 2024 without government approval, while its 9-member board received over GH¢2 million in sitting allowances over two years.#JoyNews pic.twitter.com/ndHorFgsLX
— JoyNews (@JoyNewsOnTV) November 25, 2025
