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The Executive Director of the State Interest and Governance Authority (SIGA), Mr Stephen Asamoah-Boateng, has issued a warning to chief executives who failed to submit their financial statements to the Ministry of Finance since 2016, to quickly do so else risk being dismissed.

This is after it emerged that 47 state-owned enterprises have not done so in contravention to the Public Financial Management Act.

Also, only 14 out of the 129 state-owned enterprises responded to the ministry’s directive to submit their annual statement in 2019.

Reacting to this, Mr Asamoah Boateng explained that non-performing CEOs of SOEs will be punished.

He said: “Some [CEOs] are having difficulties with their financial statements, there are auditors going in but I’ve put pressure on them and I believe that now, we have about 86 of them who have submitted it”.

“The remaining 14 per cent, we are pushing them very hard even before the COVID and with social distancing, we asked them to get the auditor-general to give them schedules”.

“So, by the close of this year, they should have submitted them, otherwise, they will face penalties”, Mr Asamoah Boateng said.

“It affects their bonuses, it affects their salaries, and it affects their performance; and CEOs who don’t perform, then the recommendation is to go to the president to relieve them of their position”.