“Serious Fraud Office moves in …..Abuse of concessions”, says the Ghanaian Chronicle in a front page headline. The paper says the Serious Fraud Office (SFO) has begun investigations into the ripping-off of the state of billions of cedis in revenue through the abuse of exemptions by some beneficiary companies. According to the Chronicle, the SFO’s move comes months after the paper had exposed the abuses, mentioning Impregillo Raechi and Impregillo S.P.A., two sister multi-national companies of Italian origin of having abused their exemption facility and ripping the state off 1.16 billion cedis in revenue. Mr Brian Anku Sapati, acting executive director of the SFO, is reported as saying “we have noted with concern how this country has been losing a lot of revenue through such abuses and it is our considered view that if we want to help bring more money into the national kitty, the time to act is now” “It is unfortunate that some beneficiary companies which are to assist the government in its development efforts are abusing this facility” he added. GRi
