Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana narrowly avoided what could have been one of the biggest financial losses in its history, after a sweeping audit he ordered uncovered GH¢13 billion in suspicious and fraudulent claims hidden within government payment systems.
In an interview on Joy News’ PM Express after presenting the 2026 Budget, Dr. Forson described the discovery as a “national near-miss,” highlighting the scale of systemic weaknesses that allowed fake liabilities to pass through several approval layers undetected.
According to the Minister, the audit — triggered by his directive to freeze all payments upon taking office — found inflated liabilities, recycled payment certificates, falsified documents, and completely fictitious invoices that had been processed and were only awaiting final payment.
“The auditors rejected GH¢10 billion immediately,” Dr. Forson disclosed. “Some claims were recycled; some were Interim Payment Certificates for work already paid for; some were falsified store receipts; and others were pure fiction.”
The audit team validated GH¢12 billion of the GH¢13 billion claims but flagged GH¢1 billion as entirely fabricated.
“These were invoices and certificates that had passed through the Controller’s office, the Auditor-General’s office, and even the Bank of Ghana — just waiting for cash,” he explained. “If that audit hadn’t been done, the money would have been lost.”
Instinct That Stopped a Catastrophe
Dr. Forson revealed that his first action as Finance Minister was to instruct his staff to halt all payments — a decision that was initially questioned internally.
“Some of my staff said the payments were legitimate and far advanced. But my instinct told me to stop everything and audit,” he said.
That instinct, he believes, saved the country billions.
A Damning Report Coming
He described the full audit report, expected next week, as “damning” and “extremely troubling,” adding that it provides names of individuals and companies implicated in the attempted fraud.
“The audit will expose them — the names, the companies, and everyone behind these claims,” he said, confirming that the report will be handed to the Attorney-General for prosecution.
Dr. Forson said he intentionally withheld the matter from his budget presentation to avoid overshadowing the policy measures announced for 2026.
Systemic Failure Exposed
The revelations point to a deep structural flaw in Ghana’s public financial management, where fraudulent claims can travel through multiple verification stages without detection.
Public finance experts say the case underscores the urgent need for reforms within government payment systems, enhanced accountability mechanisms, and stronger internal controls.
As the country awaits the release of the audit report, calls for swift prosecutions and institutional overhaul are expected to intensify.
