A five-year Memorandum of Understanding, MOU, has been signed between the Public Interest and Accountability Committee, PIAC, and the Economic and Organised Crime Office, EOCO to deal with misappropriation and embezzlement of oil revenue.
By this, the two institutions will work to safeguard Ghana’s petroleum revenue from criminal abuse by preventing Economic and Organised crimes relating to the use of the petroleum revenues.
Speaking at the signing ceremony, the Executive Chairman of the Public Interest and Accountability Committee, PIAC, Dr. Steve Manteaw, said the MOU will enable PIAC pursue criminal conduct of public officials with regards to oil revenue by holding them accountable.
The Public Interest and Accountability Committee, PIAC, is a statutory and citizens- led institution mandated to ensure the efficient, transparent and accountable management and use of Ghana’s petroleum revenues.
Since 2011, its findings and recommendations on the misapplication, misuse, and diversion of petroleum funds allocated to projects has not yielded much results because it has no legal capacity to enforce those recommendations.
This is the more reason the collaboration is key as it will see a transition from transparency to accountability. By the MOU, PIAC will furnish EOCO with relevant documents and avail itself during investigations.
PIAC will also submit copies of its report to EOCO, highlighting relevant sections that require further investigation.
EOCO will also in turn update PIAC at regular intervals on progress of investigations. The Executive Chairman of PIAC, Dr. Steve Manteaw said the inability of PIAC to pursue cases on the misapplication of the oil revenue has always been a worry because it does not lead to accountability of the resource.
The Executive Director of EOCO, ACP KK Amoah said the collaboration will give a push to the work of EOCO because the institution relies on information by other collaborators and informants. He said EOCO will swiftly deal with cases forwarded by PIAC.
The five year old MOU is subject to extension or termination by a written agreement.