NDC withdrew $400 million cocoa loan after losing 2016 Elections – COCOBOD

According to him the money was withdrawn between December 20, 2016 and January 2017.

He disclosed that the issue is presently being investigated and the outcome of that investigation would be made public soon.

Mr. Boahene Aidoo addressing the media Wednesday explained that, the NDC government secured an amount of US$1.8 billion for the 2016/2017 cocoa purchases, which were projected at 850,000 metric tonnes.

But, in January 2017 the total $1.8 billon had been utilized but only 587,125 metric tonnes of cocoa had been purchased.

“The mystery surrounding the exhaustion of the US$1.8 billion is being investigated and the full facts will be made known to Ghanaians in due course. Peculiar to the loan utilization is the last drawdown of US$400.0 million which was effected on 20th December 2016 at the time the NDC had woefully lost the December 2016 elections.”

“It is still surprising how the full drawdown of US$400.00 million (GH¢1.69 billion) was fully expended between 20th December 2016 and 6th January 2017 when the NPP government took over after 7th January 2017.

“Audit findings into the utilization of the amount will be made known to Ghanaians at the appropriate time when the full facts are unravelled.”

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