The Management of the Bulk Oil Storage and Transportation Company (BOST) finds itself at the center of a brewing scandal involving the rehabilitation of a multimillion Cedi contract for tugboats at its Akosombo office where a contract was awarded and paid for with no tangible work to show since October 2022.
Sources told this portal the details of the project has been pushed to the Transition team to examine as it was initially planned as a five-month contract, but has stretched to nearly two years, burning through a nearly 6 million cedis with no end in sight.
This portal is told that despite the colossal expenditure, the tugboat remains unfit to make a single voyage even after pressure was mounted by BOST Management led by one Josiah to force the boat to move once.
In their view, if the boat is able to move even onc, they can use that fact to defend the amount they have spent on it for maintenance. They say forcing the boat to move secure a defence against any investigation and prosecution by the incoming NDC administration for causing financial loss to the state.
A copy of a letter signed by Managing Director Edwin Provencal sighted by this portal on the above procurement dated October 14th 2022, addressed to the Managing Director of M&B Limited Bernardson A. Akolgo said BOST was pleased to award the latter the contract for the repair of tugboat, modification of discharge pipelines and installation of pumps at Akosombo at a total cost of Five Million Six Hundred and Fifty-Three Thousand, Four Hundred and Fifty-Five Ghana Cedis, Sixty-Two Pesewas (GHS 5,653,455.62) inclusive of all relevant taxes
The letter said “You are hereby advised to proceed with the fulfilment of Performance Security of Five Hundred and Sixty-Five Thousand, Three Hundred and Forty-Five Ghana Cedis, Fifty-Six Pesewas (GHS 565,345.56) being 10% of the stated amount and signing of Contract within four (4) days of receipt of this letter. You would be required to provide a Performance Bond (at a later date) in the form of a bank guarantee (10%) or Insurance Bond (30%) of the contract sum covering the tenure of the contract.”
Insiders claim that to mask the glaring inefficiencies, BOST management is allegedly inducing VLTC managers with incentives to assign crew members to the tugboat to simulate readiness for a voyage.
This desperate move, critics say, is an attempt to sweep the scandal under the rug.
Eyewitness accounts paint a damning picture of the project’s progress.
Beyond installing non-functional navigational equipment, conducting oil changes, and painting the vessel, no meaningful work has been done.
Alarmingly, the so-called contractor appears to be a phantom figure but evidence is emerging showing linkages to current top management figure of BOST.
According to staff at the Akosombo site, no one has ever identified or seen the contractor, sparking allegations that the project is being handled in-house under unexplained circumstances.
Further compounding the controversy is the alleged involvement of a General Manager of BOST who is said to have personally supplied the installed equipment and logistics for the oil changes, raising questions about procurement transparency and accountability.
With millions of taxpayer cedis wasted and no tangible results, Ghanaians are demanding accountability and calling for an independent probe into BOST’s management of this botched project.
