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I reported GIISDEC rot to the CID – Deputy CEO GIISDEC

The Deputy CEO of Operations at the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), Kwame Addo Asirifi, has confirmed the petition by some staff citing rot regarding salary discrepancies at GIISDEC as correct.

He revealed this to a reporter in a telephone conversation on Thursday,April 4, 2024, saying that he personally reported the anomalies regarding salary discrepancies to the CID this year. “I know the concerns raised by the staff. I personally reported the matter to the CID of the Police Service, and the Internal Auditor (Francis Bekoe) and the Finance Director (Prince Ofoso Baakoh) were arrested and are on police inquiry bail because it’s  criminal,” he revealed.


Information reaching the author indicated that the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has been embroiled in a scandal involving mismanagement of public funds and accusing fingers being pointed at the highest levels of leadership.

Documents available revealed a series of inappropriate financial practices, including increases in employees’ salaries, which do not in any way reach the benefactors, with the difference running into several millions of Ghanaian cedis, which are unaccounted for.

Referencing the documents intercepted, Ghana Integrated Iron and Steel Development Corporation (GIISDEC) at its inception sought the assistance of the Fair Wages and Salaries Commission (FWSC) to develop a compensation plan and a salary structure that was benchmarked with Ghana Integrated Aluminum Development Corporation.

However, a letter dated December 7, 2020, for compensation structure issued by the Ministry of Finance (MoF) for staff condition of service annulled the earlier arrangement with FWSC. As a result, staff were subsequently placed on Step 1 of the Ministry of Finance compensation structure, with the instruction not to vary the same for two years. It was then that financial clearance was given to 48 staff, including all the government executive appointees, with a total monthly compensation package of GHC 528,816, which remained the same between September 2020 and December 2021.

Further checks of the document show that in 2022, workers detected that staff compensation had risen to GHC 681,204, an average increase of 28.82%, but staff salaries remained unchanged. Investigations into the matter revealed that the Director of Finance used Step 3 of the MoF salary structure throughout the 2022 fiscal year for staff compensation packages, a situation that compelled the workers to ask questions.

When this detected discrepancy in salary was brought to the attention of management, the Director of Finance, Prince Ofosu Baakoh, on behalf of the Chief Executive Officer (CEO), Kwabena Bonsu Fordwor, and the Deputy Chief Executive Officer, Finance and Administration, Nicholas Andoh, acknowledged the discrepancies but were quick to explain that it was an arrangement to cater for some twenty (20) contract staff who do not have financial clearance, as well as other payments for goods and services.

This explanation did not go down well with the staff, as they felt disrespected and cheated. The reason, according to the staff, is that, in the books of the Ministry of Finance, the workers have been migrated from the Step 1 salary structure to Step 3, but in actual fact, these workers are being paid by the management of GIISDEC using Step 1.

The document revealed that the difference in compensation not remitted to the qualified staff in 2022 alone was a staggering GHC 1.832 million. The said documents, which have also been corroborated by Metrotvonline, indicate that the exact amount of money was allegedly captured in the Internal Audit Agency’s (IAA) preliminary audit report.

What is more disturbing is that checks reveal that in 2023, the Step 3 salary structure was upwardly adjusted by 15% for compensation requests, which were granted and approved by the MoF. Unfortunately, workers were still paid using Step 1, denying them what was rightfully theirs.

Some concerned employees who felt let down have begun to speak, and it has been confirmed that the total monthly compensation throughout the year 2023 stood at GHC 791,414, a reflection of a 49.66% increment between 2020 and 2023; however, staff salaries remained the same over the period in question. Compensation analysis computed for the year 2023 established that a staggering amount of GHC 1.45 million had not been distributed to staff with the same excuse given by management. “The difference is used to settle the compensation of 20 contract workers and other expenses.”.

The above notwithstanding, there have been some illegal deductions from workers’ salaries, which have compelled GIISDEC staff to report the issue to the Criminal Investigation Department (CID), which led to the arrest of the Director of Finance, Prince Ofosu Baakoh, and Internal Auditor, Francis Bekoe, by the Financial Forensic Unit of the Police CID.

We also chanced on a letter dated March 14, 2024, in which a staff member of GIISDEC caused his solicitors to petition the board, drawing their attention to illegal deductions amounting to over GHC400,000 from his salary and asking that the same be paid back to him as he rightfully earned. But this petition appears to have fallen on deaf ears, signaling a legal battle and potential judgment debt.

Again, another disappointed and unsatisfied staff member told this reporter in confidence about a letter he presented to the Office of Special Prosecutor to investigate what he called the “fraudulent dealings” of some persons in management positions.

Amidst this turmoil, it has come to light that the corporation has been operating without proper oversight, with no board meetings held for three consecutive quarters, leaving GIISDEC in an “auto-flying mode.” The last time the board met was in the second quarter of 2023, inside sources reveal.

As the gravity of the situation unfolds, calls for accountability and transparency have intensified. These concerned staff of GIISDEC are directing the Chief Executive Officer to rectify outstanding payments and implement a fair compensation structure based on MoF guidelines. All attempts to reach the CEO, Kwabena Bonsu Fordwor, to seek clarity on the matter have proved futile.

DC Kwame Kwakye

Fatherhood Advocate, Consultant, Broadcast Journalist, Writer and Counsellor.

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