The Director-General of the State Interests and Governance Authority (SIGA), Professor Michael Kpessa-Whyte, has issued a stern warning to ten Specified Entities that have failed to submit their 2024 management and audited accounts, threatening to publish their details if they do not comply by the close of tomorrow.
In an announcement published on SIGA’s official social media platforms, the Authority disclosed that eight Joint Venture Companies (JVCs) and two State-Owned Enterprises (SOEs) have defaulted on the statutory April 30, 2025, deadline.
The statement emphasized that failure to meet this legal requirement constitutes a breach of the governance and accountability frameworks governing public institutions.
“So far, Ten (10) Specified Entities comprising Eight (8) JVCs and Two (2) SOEs have failed to submit their 2024 management and audited accounts to SIGA as required by law and reinforced by President John Mahama. SIGA will be forced to publish their details by the close of tomorrow if the required documents are not submitted immediately. Comply or be dragged to explain your non-compliance to the public,” the statement warned.
This ultimatum forms part of SIGA’s broader efforts to enforce compliance and promote transparency within the public sector. The Authority, which supervises the performance and governance of Specified Entities on behalf of the state, has been intensifying its monitoring mechanisms following President Mahama’s directive to ensure financial accountability across all such entities.
Earlier in June 2025, Prof. Kpessa-Whyte indicated that over 100 entities had already complied with the requirement. “A large majority of them, I don’t have the current figure, but a large majority of them, perhaps about 140 to 150, did comply,” he stated during a media engagement.
He further revealed that SIGA had submitted a detailed compliance report to the Presidency in line with a directive issued by President Mahama. “We had submitted a report to the Presidency because, if you recall, the President also stated that SIGA was given until the 14th of May to submit a report on the compliance of the entities. We had submitted that particular report to the Presidency,” he noted.
The April 30 deadline, set by SIGA, was aimed at ensuring timely submission of quarterly and annual audited financial statements by all Specified Entities, including SOEs, JVCs, and other public interest organizations.
This initiative is part of an ongoing drive to enhance public sector governance and improve the financial health and transparency of state-owned bodies.As the deadline looms, SIGA’s warning signals a decisive move to hold non-compliant entities publicly accountable, potentially leading to reputational damage and further administrative consequences for the defaulters