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Presidency Responds To “Unfortunate” & “Needless” Statement From GOIL Board   
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It has now been established that the board of Ghana Oil Company (GOIL), slipped up for hastily accusing President Akufo-Addo of side-stepping the due process in removing and appointing a Chief Executive Officer for the oil company.

The Board Chairman, Prof. William Asumaning, was in the news recently for the wrong reasons when he took a subtle dig at the appointing authority following news of the appointment of a new head at GOIL.  

The faux pas had to do with a statement he personally signed without cross-checking the veracity of the news report.

The Board would like to draw the attention of....that GOIL is a public listed company on the Ghana Stock Exchange with its own Regulations. The Regulations state the process through which a CEO can be appointed or removed....The Board would like to state emphatically that it is not aware of the observance of such processes....and that we as a Board have not made any such appointment,” portions of statement read.

It is based on this misleading notion that Presidency has stepped in to correct the false impression being fueled by Prof. William Asumaning.

Ag. Director of Communications at the Presidency, Mr. Eugene Arhin, issued a statement today to put an end to the news which was based on “mere speculation and conjecture by an online publication”.

In a statement copied to Peacefmonline.com, the presidency indicated that the statement by Prof. William Asumaning was “unfortunate” and “completely needless” and he could have saved himself from the embarrassment if he had done a background check before taking a swipe at the President.

He added that should the President decide to appoint a new CEO, he would do it in accordance with laid down procedures.

Full Statement below…


The Office of the President has taken notice of a statement issued by Prof. William Asumaning, the Board Chairman of Goil, on Saturday, February 25, 2017, in relation to the purported appointment of a “new” Chief Executive Officer of the Company by the President of the Republic.

The statement by the Board Chairman references a Ghanaweb publication of 24th February, 2017 titled “Nana Addo Picks New Heads for Forestry Commission, Ghana Health Service and GOIL”.  It is on the basis of this story that Prof. William Asumaning put out his statement.

One would have hoped, in the interest of best practices, that the issuance of such a statement by Prof. William Asumaning would have been hinged on concrete evidence, in the form of appointment letters, and not mere speculation and conjecture by an online publication. The statement by the Board Chair was unfortunate and completely needless, to say the least.

For the avoidance of doubt, I wish to state that the President of the Republic, Nana Addo Dankwa Akufo-Addo, has not appointed a new CEO of GOIL, and when he decides to do so, it will be done in accordance with laid down procedures.


Eugene Arhin

Ag. Director of Communications
Source: Chris Joe Quaicoe/ email: [email protected]

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