GNPC loan ruling: I’m not a happy man – Napo

General News of Thursday, 8 January 2015


Methew Napo

Member of Parliament for Manhyia South, Mathew Opoku Prempeh, has expressed disappointment about the outcome of the injunction application against GNPC thrown out by the court.

Commercial division of an Accra Fast Track High court on Wednesday dismissed an injunction application brought before it by three Members of Parliament, seeking to stop the Ghana National Petroleum Corporation (GNPC) from securing a $700 million dollar loan.

They are: Dr Anthony Akoto Osei, MP for Tafo Pankrono; Dr Mathew Opoku Prempeh, MP for Manhyia South, both in the Ashanti Region, and Samuel Atta Kyea, MP for Abuakwa South in the Eastern Region.

According to the MPs, GNPC did not seek approval from Parliament before securing for the loan, this, they explained violates the Petroleum Revenue Management Act 2011(act 815) and is therefore null and void.

The court also said the three MPs had failed to show how they would personally suffer any loss if GNPC proceeds to acquire the loan.

But speaking on Asempa FM’s Ekosii Sen Wednesday, Dr Opoku Prempeh wondered why GNPC cannot raise such money but rather opting for a loan.

“Though I am not happy about the outcome in court, I have no option than to accept it. In fact, they are not thinking about the country and Ghanaians as a whole.

“This issue is an issue of interest to the government of Ghana but it seems no one is speaking the truth. Our lawyers are studying the ruling and we shall come out later,” he added.