“Procurement Fraud Is Killing This Country” – Renowned Banker Frank Adu Jnr Wails

Procurement Fraud Is Killing This Country” – Renowned Banker Frank Adu Jnr Wails

Accra, Ghana — Former CalBank Managing Director, Frank Adu Jnr, has issued a stern warning over the deepening impact of procurement fraud on Ghana’s economy and governance, describing it as an accelerating national crisis.

Speaking recently on TV3’s Business Focus, Adu Jnr decried the current two-party political system—dominated by the NPP and NDC—as a breeding ground for corrupt procurement practices. He stated these systems often prioritize election-year gains over fiscal discipline, saying:

“Procurement fraud is killing this country,”

emphasizing that the unchecked manipulation of public contracts has eroded economic structures and public trust 

⚖️ Key Highlights from Adu Jnr’s Remarks

• Destructive political cycle: Adu Jnr argued that Ghana's “two-horse race” democracy encourages short-termism—especially in the third and fourth years of a government—when expensive, often fraudulent contracts are floated to curry electoral favor.

• Economic sabotage: Citing the Domestic Debt Exchange Programme (DDEP), he criticized government missteps that destabilize financial systems—such as issuing high-interest T‑Bills simultaneously—labeling them symptomatic of deeper procurement manipulation 

• Call for systemic reform: Adu Jnr underscored the need to decouple politics from procurement and foster independent institutions capable of enforcing fair contract awards and transparency.

???? Public Outcry and Echoes Online

Ghanaian netizens have echoed Adu Jnr's sentiments, specifically pointing to procurement scams involving ambulances and cyber security contracts. One Reddit user observed:

“Nothing will go anywhere…the corruption has become so rampant and obvious they don't even bother hiding it.” 

This echoes widespread frustration: while major procurement scandals are repeatedly exposed, citizens lament the lack of meaningful accountability.

???? Implications & Way Forward

1. Institutional Independence: Adu Jnr advocates for a procurement framework insulated from political leaders and electoral pressures—championing merit-based, technocratic oversight.

2. Fiscal Discipline: He urges governments to prioritize long-term economic integrity rather than short-term electoral popularity, warning that persistent procurement fraud erodes investor confidence and public welfare.

3. Civic Awareness: With public uproar mounting over high-profile fraud cases, Adu Jnr believes this cultural shift in awareness can drive demands for real reform.

Bottom Line:
Frank Adu Jnr’s warning isn’t just a critique—it’s a clarion call for Ghana to overhaul procurement processes, strengthen institutional checks, and break election-driven cycles of spending abuse. The economic survival of the nation may depend on it.