General News of Saturday, 30 December 2017
The Minority in Parliament believe they have been vindicated by the Commission on Human Rights and Administrative Justice (CHRAJ) on its findings in allegations of Conflict of Interest against Finance Minister, Ken Ofori-Atta, in the issuance of the $2.25 billion bond.
The National Democratic Congress (NDC) MPs say CHRAJ’s revelation that the Minister breached several processes in the issuance of the bond confirms claims of wrongdoing although he was not found guilty of conflict of interest.
In a statement copied to citifmonline.com, the Minority Leader, Haruna Idrissu, said “the adverse findings contained in the decision of the CHRAJ vindicate our position that the US$ 2.25 Billion bond issuance was fraught with irregularities and did not comply with Ghanaian law.” The Minority say they will hold a press conference in the coming week on the outcome of the CHRAJ investigations.
Read the full statement below:
MINORITY STATEMENT ON DAMNING FINDINGS AGAINST FINANCE MINISTER BY CHRAJ IN US$ 2.25 BILLION BOND INVESTIGATION
The Minority Caucus in Parliament has become aware of findings contained in the decision of the Commission on Human Rights and Administrative Justice (CHRAJ) on a complaint filed against the Finance Minister over the infamous US$ 2.25 billion bond in March this year.
Contrary to some publications on a number of online portals to the effect that the Finance Minister has been cleared of wrongdoing, CHRAJ in its decision agrees largely with our stated position from the very beginning that the bond issuance did not follow due process.
CHRAJ in its summary of key findings noted several breaches of statutory regulations governing the issuance of bonds and cited the Minister for conduct bordering on criminality.
It is the considered position of the Minority that the adverse findings contained in the decision of the CHRAJ vindicate our position that the US$ 2.25 Billion bond issuance was fraught with irregularities and did not comply with Ghanaian law.
We will engage the media next week to provide details of our position on the outcome of the investigations and consequential matters.
We wish Ghanaians a happy new year.
Haruna Iddrisu (MP).
Parliament in June 2017 was forced to summon the Finance Minister to provide detailed information on the 2.25 billion dollar bond following a motion filed by the Minority.
Concerns had been raised especially by the Minority about the transparency of the $2.25 billion domestic bond with some noting that the apparent secrecy over the deal fueled the allegations of conflict of interest against the Finance Minister, Ken Ofori Atta.
The Minority in its conflict of interest allegations, said a non-executive director on the board of Investment Firm, Franklin Templeton, who purchased 95 percent of the $2.25 billion bond, is also the Chairman of the Enterprise Group, which has links to the Attorney-General and the Finance Minister.
The Minority eventually called for a full-scale parliamentary probe into the bond issue.
A member of the NDC, Brogya Genfi, in April petitioned CHRAJ to investigate the matter on grounds that the Finance Minister, Ken Ofori-Atta, had attempted to “promote a personal interest for himself, as well as family and friends, which interfered with the objective exercise of his duties.”
CHRAJ, after months of investigation, said Mr. Ofori-Atta breached certain processes in the issuance of the bond, however, it did not find him involved in a conflict of interest position.