The Public Interest and Accountability Committee (PIAC) has raised fresh alarm over the failure of Explorco, a subsidiary of the Ghana National Petroleum Corporation (GNPC), to account for petroleum revenues owed to the Republic of Ghana.
In its 2025 Annual Report released on 8th April 2026, PIAC revealed that Explorco has failed to account for petroleum revenue amounting to US$561,648,785.37 due the government between 2022 and 2024 ,despite numerous calls by the Committee for the funds to be deposited into the Petroleum Holding Fund (PHF).
PIAC’s Chair, Richard Ellimah, signed off on the report which formally recommends that “GNPC and its subsidiary, Explorco, should account for petroleum revenue amounting to US$561,648,785.37 due government and deposit same into the PHF.”
The persistence of the issue across multiple reporting cycles points to a pattern of non-compliance that PIAC says can no longer be overlooked.
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