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General News | Apr 23, 2004

Scandal At BOST (2): MD'S Lie Exposed

Chronicle

Mr. J.K.O. Addo-Yobo, Managing Director of Bulk Oil Storage and Transportation (BOST) in a desperate bid to clear his administration, has denied any wrong doing in the payment of sitting allowances to the three-member sub-committee of the board of directors tasked to draw up an organizational chart for the company.

Reacting to The Chronicle's lead story on Monday headlined Scandal Rocks BOST during a newspaper review programme on Peace FM Radio, Addo-Yobo claimed that the committee members were paid the normal sitting allowances that did not exceed ¢1 million each.

"No one in the three member sub-committee tasked to draw up the organizational chart was paid more than the normal sitting allowance which was between ¢750,000 and ¢800,000; none of them, let me say, was paid anything above one million cedis," Addo-Yobo told Sefa-Kayi, the host of the programme.

However, documents bearing the payment of the sitting allowances sighted by The Chronicle showed that Addo-Yobo was far from the truth when he insisted that his administration never paid more than one million cedis as sitting allowances.

The documents indicated that a member was paid as much as ¢3.5 million on September 11, 2003 and another received ¢3 million on July 25 as sitting allowances. Again on September 4, 2003,

two of the members were paid ¢3 million each as sitting allowances.

Beside the ¢3 million payment it also emerged that BOST paid ¢2.5 million and ¢2 million each to the committee members at different sittings.

The lowest payment The Chronicle spotted on the documents was ¢500,000 on May 22, 2003 and on July 18, 2003 to two of the members.

In all the sub-committee sat 29 times from May 8, 2003 to September 24, 2003.

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