MASLOC CEO refutes NDC’s corruption, partisan claims levelled against him

Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC) has refuted claims of corruption and partisanship made against him and his office.

Stephen Amoah described the allegations as a smear campaign orchestrated by the opposition National Democratic Congress (NDC) and its flagbearer John Dramani Mahama.

In a statement available to GhanaWeb, the MASLOC boss sought

Read full articleto explain and refute the allegations point by point while asking for the general public to disregard the claims.

“It all started in August 2017, when the NDC Propaganda Machinery alleged that MASLOC under my leadership had imported 1,800 second-hand cars. I must state that the Centre had at that time not imported any such cars,” the statement read.

“Sometime in October 2019, the NDC came up with another concocted story that I had distributed MASLOC funds to NPP supporters at the Jubilee Park in my constituency,” it added.

Meanwhile, In August 2017, the Economic and Organized Crime Office (EOCO), then headed by K.K Amoah, engaged Bafour Awuah & Associates (BAA) as a technical consultant to conduct a forensic investigation of MASCLOC’s operations on EOCO’s behalf, for the period 1st January 2009 to 31st March 2017.

BAA was to assist with investigations to enable MASLOC to attain effective financial management of its resources and the cost was borne by MASLOC on the direct orders of EOCO.

MASLOC provides micro and small loans for start-ups and small businesses in a bid to grow and expand their businesses.

Read the full statement below:

Unfounded Allegation Leveled Against MASLOC CEO 18/11/2020

Good morning ladies and gentlemen and friends of the Media. I called for this meeting to inform you on the smear campaign the NDC has engaged against me and my administration since I was appointed as CEO of MASLOC.

The NDC has on several occasions fabricated stories to tarnish my hard-earned reputation, but has failed in their attempts.

1. Importation of Cars:

It all started in August 2017, when the NDC Propaganda Machinery alleged that MASLOC under my leadership had imported 1,800 second hand cars. I must state that, the Centre had at that time not imported any such cars.

2. Disbursement of cash in the Nhyiaeso Constituency

Sometime in October 2019, the NDC came up with another concocted story that I had distributed MASLOC funds to NPP supporters at the Jubilee Park in my constituency.

To begin with, the said Jubilee Part is not in the Nhyiaeso but Akwetia Line in Subin Constituency. The said exercise was conducted for Kumasi Central Market Women.

On 4th October 2019, the Centre distributed cash of GH¢1,000 each to one thousand beneficiaries drawn from the Kumasi Central Market. The disbursement at the Kumasi Central Market is no exception to the practice that has been in place since the inception of the Centre (2006 to date).

In disbursements of that size, the CEO and other Senior Management are usually invited to grace the occasion. The fact remains that, this disbursement was not conducted in the Nhyiaeso Constituency where Mr. Stephen Amoah is a Parliamentary Candidate.

3. Procuring the services of Forensic Auditors:

Another lies the NDC Propagandist fabricated was that, the Centre procured the services of an audit firm without going through appropriate procurement process.

Here lie the facts;

• The audit firm Barfour Awuah and Associates was appointed by Economic and Organized Crime Office (EOCO).

• The scope of the assignment was to conduct forensic investigation into the operations of MASLOC pursuant to Section 14 (3) of ACT 804.

• The financial implication of the scope of the investigation amounted to GH¢120.7 million.

4. Distribution of Buses to NPP Chairmen:

Former President and NDC Flag bearer J. D. Mahama also engaged in a smear campaign when he accused the Akufo Addo Government of distributing Isuzu Buses procured by MASLOC under his regime to NPP Chairmen.

• The cost of each buses was inflated by about US$30,000.

• GPRTU rejected the buses due to the high purchase cost GH¢705,550.00 which was way above the market average price.

• Upon recommendation to the Presidency by the National Executives of GPRTU, the Presidency accepted and approved to reduce the price from GH¢ 705,550.00 to GH¢328,000.00 representing a reduction of 53.5%.

• On 16.07.2019 at the Forecourt of Parliament House, eighty three (83) Isuzu buses were officially handed over to the G.P.R.T.U Management. The names and numbers including photographs of the GPRTU beneficiaries are in our records.

• Fifteen (15) of the buses were sold to individual prior to the price reduction to reduce the risk of incurring more loses. Remember the sad story of the Gallopers.

• Two (2) buses were given to MASLOC and NUGS respectively.

5. Information making round on Social media – Stealing of GH¢28.8 million

Having failed in their numerous smear campaign and propaganda, the NDC through its hollow mouth piece “Operation Sting”, has yet again embarked on lies and deceit intended to throw dust into the eyes of the public.

The allegation of stealing GH¢28.8 million is nothing short of a palpable falsehood meant to denigrate the hard-earned reputation of the Chief Executive Officer of MASLOC Mr. Stephen Amoah.

It is interesting to note that, the propaganda material which was thrown on the Social Media space lacks credibility and must be disregarded entirely.

Thank you for coming.

God Bless You and God Bless Our Home Land Ghana.

Stephen Amoah
CEO MASLOC
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