Ghana's National Food Buffer Stock Company (NAFCO) had no dedicated audit department before its current CEO, George Abradu-Otoo, assumed office. This lack of oversight allowed staff to operate largely unchecked, according to Abradu-Otoo. In an interview following NAFCO's Annual General Meeting in Accra on September 24, 2026, Abradu-Otoo disclosed that the company's internal systems had lacked basic accountability structures.
Abradu-Otoo introduced reforms covering auditing, procurement, and food safety functions at NAFCO. Expenditure has been tightened to guarantee that money spent translates into real value. He said, "We have controlled expenditure, and so if you incur costs and there is no value, I will not pay." Procurement processes are also being strengthened to match purchases to the company's actual operational needs.
NAFCO is a government-owned entity tasked with buying, storing, and distributing surplus food commodities to stabilize supply and prices across Ghana. Weaknesses in its financial controls carry direct consequences for both food security and public accountability. A buffer stock company operating without an audit function raises questions about how public money was tracked and whether commodities purchased were properly accounted for.
Abradu-Otoo did not specify how long the company went without an audit department or detail the scale of any losses or mismanagement that may have occurred. The company's lack of an audit department for years has raised concerns about public accountability and the management of taxpayer funds used to purchase grains and other staples directly from farmers.
Alongside reforms, NAFCO is working to expand its warehouse network so that every district in Ghana eventually has storage facilities. This expansion will place storage closer to farming communities, ease challenges around preserving harvested food, and strengthen NAFCO's ability to serve as a ready market for farmers with surplus produce.
The reforms are part of a broader push to make NAFCO more efficient and financially sustainable as it carries out its mandate of supporting Ghana's food security system. The planned district-level warehouse expansion and implementation of reforms aim to enhance the company's operations and accountability.
No timeline has been provided for the full implementation of the reforms or the completion of the planned warehouse expansion. No further statements from NAFCO's board or government oversight bodies on the matter have been reported at this stage.
Key points
- NAFCO had no audit department before CEO George Abradu-Otoo took over.
- The company has introduced reforms to enhance accountability and financial sustainability.
- NAFCO plans to expand its warehouse network to improve food storage and distribution across Ghana.
