Ghana COCOBOD: We Spent $8,000 On A Domain Name…

Though a top-notch domain for an outlet like Ghana COCOBOD would reasonable cost not more than 10 dollars, COCOBOD claims $8,000 was spent on the name of its website—revealed in an on-going expenditure enquiry.
Yesterday, it emerged that COCOBOD spent $20,000 of the $1.8 billion syndicated loan for the 2015/2016 crop season on the loan signing ceremony.
Now, it has emerged that, eight thousand dollars was spent on acquiring a domain name which usually sell for 10 dollars, per their accounts.
Explaining how such much can be spend on a mere domain name, the Public Relations Officer of COCOBOD, Noah Ameyah told Citi Fm that “COCOBOD had to spend that amount on the website because it had some special security features that would prevent it from being hacked.” 

“The paper that we gave to Parliament indicated that it is rental domain. The domain is the website domain that is created and it is mandatory on such used loans so that other banks and those involved can get the needed information on what the transaction is. It is a special website called best website domain which will prevent anybody from breaking into it,” he explained. 

Aside the 8,000 dollars domain spending and the 20,000 dollars loan signing ceremony cost, COCOBOD also spent an additional amount of $169,000 was also spent as legal fees among other expenditure.