The Acting CEO of the Valco Trust Fund, Kelvin Yeboah, is currently the most popular person in Ghana. He is being investigated for alleged financial crimes by the Special Prosecutor’s Office while also being held captive by the National Investigations Bureau.
While the NIB, formerly BNI, granted him bail in a separate case involving allegations of corruption and abuse of office, including disobeying legal requirements for procurement thresholds, the OSP is also investigating the case.
He was detained and released on bail by NIB following allegations of financial misdeeds, including paying Ghc190,000 for a photo shoot, Ghc17,000 for a website to track schools under trees, Ghc250,000 for publicity for Schools under trees, and Ghc175,000 for a breakfast meeting with 20 people.
Investigations are also being conducted to determine whether the Acting CEO attempted to remove other signatories from the VALCO Trust Fund Bank Account on November 15, 2021, and fired employees who objected to the change.
The SP, on the other hand, is looking into how the schools that are built under trees and scattered throughout 15 regions of Ghana were actually built.
After a state firm official awarded more than 18 contracts to one company using single sourcing and without board consent, the SP was compelled to look into Kelvin Yeboah’s actions.
The Volta Aluminium Company Limited (Valcocharitable )’s arm, the Valco Trust Fund, has been operating without a board of directors for a few years.
With a planned budget of Ghc3.5 billion, the VALCO Trust Fund began an ambitious effort to demolish schools under trees nationwide in 2020.
The initiative aimed to build 5,403 schools that are now operating under trees or in deteriorated or temporary structures within a five-year time frame.
At Karaga in the Northern Region, where the first eighteen schools were built, Mr. Kelvin Yeboah turned the first sod for the project.
The project includes classroom buildings for kindergarten through grade six, as well as for elementary and junior high schools, along with ancillary amenities including headteacher’s offices, staff common rooms, restrooms, libraries, ICT labs, and boreholes and furnishings to be supplied.
Although the project’s first 15 have been completed in large part, it is currently the subject of debate and inquiries.
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