President John Dramani Mahama has issued a stern warning to Chief Executive Officers of state-owned enterprises, stating that those who fail to submit audited accounts and annual reports by the deadline set by the State Interests and Governance Authority (SIGA) risk losing their jobs.
Speaking at a diaspora town hall meeting on Sunday, May 31, the President said government is tightening oversight of state-owned enterprises as part of broader efforts to improve accountability and strengthen economic management.
According to him, several state institutions had operated for years without presenting audited accounts or annual reports, a situation he described as unacceptable and detrimental to the country’s development agenda.
He noted that losses recorded by poorly managed state-owned enterprises ultimately become liabilities for the state, placing additional pressure on public finances and undermining efforts to restore economic stability.
President Mahama revealed that government has made the submission of audited accounts and annual reports a key performance indicator for chief executives of state enterprises, stressing that compliance would no longer be optional.
“We found out that some state-owned enterprises had not presented annual reports or audited accounts for seven years. I mean, who runs an organisation like that for seven years without audited accounts and annual reports?
“So we have made the submission of audited accounts and annual reports part of their key performance indicators. I’ve told the CEOs that SIGA has set a deadline, I think by the middle of this year. If you have not presented your audited accounts and you have not presented your annual report, the road is your face, you go home,” he said.
The President, however, expressed optimism about the performance of several state-owned enterprises, indicating that many of them are beginning to show signs of improvement following increased monitoring and reforms introduced by the government.
