Should Yoofi Grant pay for his sins at GIPC?

Should the former Ghana Investment Promotion Centre (GIPC) chief executive officer, Mr. Reginald Yoofi Grant, be required to refund or face trial for all the monies he received while in office after he was due to retire on March 10, 2024?

By that time, he had already long passed the mandatory retirement age of 65 years.

A damning exposé lifted the lid on the irregular and seemingly unlawful extension of Mr. Grant’s employment contract, which has drawn widespread condemnation from legal experts, civil society, and the general public.

New government revokes Grants appointment

Meanwhile, the new John Mahama administration which took office early 2025 yesterday January 27, revoked Grants appointment. Sources indicate that Mr Grant has not been reporting to work since the results of the December 2024 elections were announced.

A flagrant breach of the Constitution

The detailed investigation showed that Mr. Grant, who was born on March 10, 1959, attained the mandatory retirement age of 60 years on March 10, 2019. However, his employment contract was extended by the former President for an additional year, allowing him to continue in his role until 2020.

The problems escalated when Mr. Grant crossed the constitutional age limit of 65 years on March 10, 2024. Article 199 of the 1992 Constitution is unequivocal on the retirement age and pensions of public officers, stating that “A public officer shall, except as otherwise provided in this constitution, retire from the public service on attaining the age of sixty years.” The Constitution does provide for limited extensions, but these are strictly capped at a maximum of two years at a time, not exceeding five years in total. Yet, in a blatant disregard for the law, Mr. Grant claimed that his contract was extended even further, allowing him to continue in his role until the end of the year 2024, but failed to show the said contract letter to management or the board of directors.

According to Michael Youri, a lawyer, “This is a clear violation of the Constitution, which sets clear parameters for the retirement and engagement of public officers. The fact that Mr. Grant was allowed to continue in his position despite exceeding the mandatory retirement age is a troubling breach of the law that must be addressed with urgency.”

“The trust that the Ghanaian public has placed in GIPC has been betrayed by this blatant disregard for the law. The monies that Mr. Grant has unlawfully received must be returned to the institution, as these funds belong to the hard-working citizens of Ghana,” he added.

Accountability and restitution

“If Mr. Grant has been drawing salary and enjoying the benefits of his position at GIPC for nearly a year after he should have rightfully retired, then it is a clear case of abuse of office and a misappropriation of public funds, and he must be made to refund every pesewa he has received since March 2024. The continued employment of Mr. Grant beyond the constitutional age limit has not only undermined the principles of good governance but has also potentially deprived younger and equally capable Ghanaians of the opportunity to serve in leadership roles within GIPC,” said Orstin Abednego Rawlings, President of United States African Command (AFRICOM).

The call for Grant to refund his unlawful earnings is seen as a necessary first step in restoring the integrity of the GIPC and reassuring the Ghanaian public that the principles of good governance will be upheld without fear or favor.

A stain on GIPC’s reputation

The latest revelations have dealt a further blow to GIPC’s already tarnished reputation. The institution is currently saddled with a staggering debt of over GH¢50 million, while worker’s social security contributions have remained unpaid for an extended period. This precarious financial situation, coupled with the blatant disregard for the retirement age and contract extension rules, has severely eroded public trust in the GIPC.

“GIPC is a critical institution that serves as the custodian of the hard-earned contributions of Ghanaian workers. The continuous mismanagement and disregard for the rule of law have eroded public trust in the institution and put the financial security of millions of Ghanaians at risk,” said Shallovern Srodah, National Chairman of the Council of Indigenous Business Association (CIBA).

A call for sweeping reforms

As the dust settles on this latest scandal, the spotlight has once again turned to the urgent need for sweeping reforms within GIPC and other public institutions in Ghana. Governance experts and civil society organizations have called for the implementation of robust oversight mechanisms, strengthened accountability measures, and a renewed commitment to transparency to prevent such egregious abuses of power from occurring in the future.

“The people of Ghana deserve a GIPC that is truly accountable to them, one that prioritizes the interests of workers over the personal agendas of its leadership,” stated Mr. Srodah. “This latest incident is a clarion call for fundamental changes in the way our public institutions are managed and governed.”

With the call for the former GIPC boss to refund his unlawful earnings, the stage is set for a new era of accountability and transparency at the Centre. However, the true test will be in the implementation of comprehensive reforms that ensure such blatant disregard for the law never happens again.

The Ghanaian public, whose hard-earned investments and contributions have been entrusted to GIPC, will be watching closely, demanding nothing less than a complete overhaul of the institution’s governance structures and a steadfast commitment to upholding the principles of good governance that are the hallmark of a thriving democracy. The people of Ghana deserve a GIPC that is truly accountable to them, one that prioritizes the interests of investors and the broader public over the personal agendas of its leadership. This latest incident is a clarion call for fundamental changes in the way our public institutions, especially those responsible for managing the nation’s economic assets, are governed. Only through sweeping reforms that restore transparency, strengthen accountability, and align GIPC’s operations with the highest standards of integrity can the trust of the Ghanaian people be fully regained. Ghanaians have their contributions with GIPC, and it is imperative that these contributions are managed with utmost responsibility and integrity.

By Innocent Samuel Appiah

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