COPEC calls for the dissolution of the BOST board

The Chamber of Petroleum Consumers Ghana (COPEC) has called for the dissolution of the board of the Bulk Oil and Transport (BOST) Company Limited after its second Managing Director resigned within a space of three years.

Executive Director of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah

The Chief Executive Officer of COPEC, Duncan Amoah, said the board must fairly be blamed for supervising different malfeasance that led to the exit of the heads.

“The existing board should be fired because all the things that led to the resignation and firing of the two heads at the place was supervised by this board.”

Chief Executive of BOST resigns

George Mensah Okley tendered his resignation to the President on Friday, August 23, 2019.

Even though the reasons for his resignation are unclear, it is suspected that it may be linked to an issue of contracts at BOST.

Unending troubles at BOST

Mr Okley was appointed by President Nana Addo in 2017 as Managing Director for the state-owned entity, following the removal from office of his predecessor, Alfred Obeng Boateng.

In 2017 BOST was in the news for causing the country to lose of about GHC7 million in revenue for allegedly selling some five million litres of contaminated fuel at a cheap price to two unlicensed companies [at the time]; Movenpinaa and Zup Oil, set up days before the sale.

After the news, there were calls for the then BOST MD, Alfred Obeng Boateng to be interdicted.

However, he was cleared of any wrongdoing by the Ministry of Energy.

Battle with COPEC

In 2018, the Chamber of Petroleum Consumers (COPEC), also accused the then MD, Alfred Obeng Boateng of financial malfeasance.

According to COPEC, Ghana lost about GHC23 million in revenue when 1.8 million barrels of crude oil was sold at a discount to an unlicensed company in April 2018.

At the time, Alfred Obeng Boateng denied the accusations. However, COPEC petitioned the Special Prosecutor to investigate the allegations.

The President subsequently sacked Mr. Obeng and named George Mensah Okley as the new MD.


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