According to African Education Watch the principal of Ola college of education in 2018, contract a loan of Gh¢250,000.00 with an interest of GH¢300,000 from the Akatakyiman Rural Bank without approval from the council, ministry of education, or the ministry of Finance contrary to S.25 of the public financial management Act, 2016 Act 921 which the cited it from the Auditor General report.
Due to this the expert from the Auditor General recommended in their report that the principal of the Ola college of education and the Accountant of the school should be sanctioned for not complying with the Act.
Experts from the Auditor General report in 2019 unearthed a total amount of GH¢23.4 million unaccounted for, as a result of malfeasance, cash management, procurement, stores, and contract management, payroll irregularities, etc.
The Auditor-General recommended the refund of the unaccounted funds, sanctioning of schools heads and accountants, and increase compliance of the public financial management and procurement laws,
African Education Watch wrote that the belief that if there is no relevant prosecution of criminals after they have launched a platform form to call for the appropriate authorities to make use of the auditor general report in 2019 to get back the unaccounted funds.
They also stated that such monies could have been using to elevate the face of the public basic schools in the country.
