Acting Chief Executive Officer of the Valco Trust Fund, Kelvin Yeboah is being probed by the Office of the Special Prosecutor over alleged financial offences.
In a related development, the National Investigations Bureau (NIB) arrested and granted Mr. Yeboah bail on another matter involving alleged corruption and abuse of office including disregarding the rules on procurement thresholds imposed by law.
Some of the alleged financial dealings for which he was arrested and released on bail by NIB include spending GH¢190,000 for a photo shoot, GH¢17,000 for a website to track schools under trees, GH¢250,000 on publicity for Schools under trees and GH¢175,000 for a breakfast meeting with 20 people.
An investigation is also being conducted about whether the Acting CEO on 15th November 2021 attempted to change signatories to the VALCO Trust Fund Bank Account (bank name withheld) by making himself the sole signatory and for which he sacked staff who resisted the move.
The SP, on the other hand, is probing the actual construction of the schools under trees dotted across 15 regions in Ghana.
The SP has been prompted to launch an investigation into the activities of Kelvin Yeboah after the state company official awarded more than 18 contracts to one company on sole sourcing and without the approval of a board.
The Valco Trust Fund is the charity wing of aluminium smelting company, Volta Aluminium Company Limited (Valco) and has been without a board for a couple of years.
The VALCO Trust Fund launched an ambitious project in 2020 to remove schools under trees in the country with a projected budget of Ghc3.5 billion.
The project sought to construct, within a period of five years, some 5,403 schools which currently operate under trees and which are in dilapidated or makeshift structures.
Mr. Kelvin Yeboah cut the sod for the start of the project at Karaga in the Northern Region which witnessed the initial construction of some eighteen schools.
The project includes classroom blocks for KGs, primary and junior high schools with ancillary facilities like headteacher’s offices, staff common rooms, toilet facilities, libraries, ICT laboratories and boreholes and pieces of furniture to be supplied.
While much of the first 15 of the project has been executed, it is now embroiled in controversy and investigations.
