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Our locked up cash with Brooks Assets won’t affect operations – TTU

Management of the Takoradi Technical University (TTU) has allayed fears that challenges faced in retrieving locked up investments with Brooks Assets Management Limited will affect the running of the company.

The university has recently been criticized for its alleged involvement in a non-profitable investment scheme amounting to a loss of about three million cedis.

But in an interview with Citi News, Public Relations Officer of the University, Kow Payin Nketsia Richardson, however, clarified that the situation is not having a toll on the finances of the tertiary institution.

He, however, revealed an arrangement with the Economic and Organised Crime Office (EOCO) to retrieve the locked up investments.

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“This investment was in 2016 and going forward the University has been running for all these years and even though it has brought some challenges, it is not something that the University cannot handle. We are actually waiting by the close of the next week, EOCO is going to advise the University as to the next step.”

The Governing Council of TTU recently ordered a forensic audit into the accounting books of the University.

Apart from the GHC 2.5 million investment in the Brooks Financial Services, which the technical university is struggling to retrieve, the school is also said to be struggling to pay a GHC 17 million debt.

Source: citinewsroom.com

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