GH¢ 862m in revenue goes missing at Ghana Railway Company

According to the Auditor General's report for 2011, an estimated GH¢862 million in revenue has gone missing at the Ghana Railway Company Limited.

The report, which has been submitted to parliament for scrutiny reveals, the amount covers revenue collected between 2005 and 2006 by the Ghana Railway Company.

The report identifies lack of proper management as the reason for the revenue loss and warns, the situation could plunge the railway company into financial distress.

Management of the Ghana Railway Company admits in the report that the missing GH¢862 million is due to administrative errors.

The report also revealed that a total of 121 trucks loaded with bauxite never got to their destination and have since not been found.

The report recommends the missing truckload of bauxite be investigated and the culprits brought to book.

The issue regarding the missing GH¢862 million is currently in court.