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The new Managing Director of BOST, Mr George Mensah Okley The new Managing Director of BOST, Mr George Mensah Okley

Rot at BOST is a well calculated plan by some selfish officials- Opare Gyan

Written by  Sep 24, 2018
The Editor-in-Chief of the Inquisitor newspaper, Godfred Opare Gyan, is lamenting that some individuals have over the years used the Bulk Oil and Storage and Transportation Company (BOST), to amass wealth for themselves. He told Kwame Tutu on Frontline on Rainbow Radio 87.5Fm Monday anytime he hears BOST, he cries because of the rot at the state institution. ‘’There are some individuals who are using BOST as a gold mine,’’ he added. He made reference to the interest payment of $3million by the Bulk Oil Storage and Transportation (BOST) to Springfield Energy. The Member of Parliament for Bongo in Upper East, Edward Abambire Bawa had raised issues with how the BOST went ahead to pay an additional $3million to Springfield Energy in a dispute, against the advice of the company's legal counsel after Alfred Obeng exited as Managing Director. Mr Alfred Obeng on September 27, 2017 reportedly ordered the payment of $4million as part of the $9 million interest payment Springfield claimed in a dispute. Opare Gyan was emphatic of the plot by officials at BOST to contaminate fuel at the state institution for their individual interest. He was also worried at the politicization of the issues instead of dealing with the relevant matters holistically. He said, ‘’I will repeat that BOST is being used as a gold mine by some individuals. I also pity the current MD because he has surrounded himself with a cartel who does not have the interest of BOST at heart.’’ He also alleged that some think tanks in the country are making money out of BOST due to some of these negative stories and activities at BOST. ‘’The activities at BOST are alarming. People are really making money at BOST. Although BOST was set up for strategic reasons, some selfish individuals have turned the institution into a cow and milking it dry. The current situation is heart wrenching and I will call for better individuals to be appointed to manage the institution,’’ he said. The immediate-past Managing Director of BOST, Mr. Alfred Obeng Boateng, has recently said under his watch, Springfield Energy, one of BOST’s clients, was given US$4 million as part-payment of a US$9 million interest on a principal judgment debt of US$11,104,143.29 awarded them by a court for the lost on an oil consignment which Springfield took to BOST for storage in 2013. Mr Obeng, who was sacked by President Nana Akufo-Addo a couple of months ago, along with other CEOs of state-owned institutions, indicated that he made the payment based on legal advice from the Head of Legal Affairs at BOST.
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