Government is battling a Supreme Court order freezing its critical accounts over a debt owed non-bank financial institution, NDK Financial Services.
Government is appealing a judgment debt granted NDK after the state failed to honour the terms of an agreement with the company.
Explaining the trajectory of events, Joy Business editor George Wiafe said government entered into a contract with a private businessman to roll out a rural electrification project between 2005 and 2006.
The businessman had obtained funding for the project from NDK and government was to pay the contract sum into a joint account held by the financial institution and the private businessman.
Government failed to do this paying the money into another account, forcing the hand of NDK to seek justice in court.
George Wiafe says at every state right up to the Supreme Court, the non-bank financial institution has obtained a favourable judgment.
It has obtained a Court judgment freezing accounts such as the Consolidated and Treasure Accounts.
The development is said to be hampering government's running of its business. A senior government official said the freeze is affecting his ability to fuel his official vehicle to conduct government business.
Government is appealing these decisions, hoping that a favourable verdict would allow it to access public funds to run the state.
More soon...
Source: myjoyonline
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Nana you are jumping into conclusion without facts. Do you know when the electrification project was to start? Do you know when the payments were to commenced? We need more than 2005 and 2006 to conclude
Please read understand before commenting. People just saw year of awarding contract and have started ticking themselves. A government official i listened to said they are not affected because they have several accounts. Well that is contradicting to what i just read, that its affecting fuel purchase. Why was money meant for an account diverted into another.when did payment commenced? The fact that a contract was signed in a particular year doesn't mean payment were done in that same year
ONLY 4YEARS MAHAMAS ADMINISTRATION MONEY HAVE BEEN STOLEN LIKE WATER SADA GYEEDA BUS REBRANDING, WOYOME BOGUS BOREHOLE WHY. ONLY STRIKES EACH N EVERYDAY.SO WHAT WILL HAPPEN IF HE GETS ANOTHER FOUR YEARS THE COUNTRY WILL VARNISH.GUYS LETS THINK ABOUT THE FUTURE....KUFFOUR DIDNT PUT MONEY IN OUR POCKET BUT WE DIDNT COMPLAIN LIKE THIS
Questions we should be asking are: (1) when was payment due and which government failed to live by the terms of the contracts.
Government should make sure money use for the court is placed under those accounts. By so doing, the coutys will be deprived of money and we shall see how they will get their salaries.
well i need more information to pass my judgement but who ever is responsible for this mess be it NPP or NDC shd be held accountable. why can we protect the national purse? why is everyone soo corrupt to the extent that we dont have any shame? why cant we just do what we have to do to save the nation from all these debts? they know the consequences of their actions yet they go on to execute them. create the judgment debt and loot the money. why? why? i wish we can place a law that will punish (possibly death penalty and the least life imprisonment) anyone whose action leads to a judgement debt against the nation. this will help control to all this mess. its getting too much. these ple will not do the same if they are running their personal offices but they dont care bcos after its going to be paid by the state. i believe this nation will be more develop if these kind of judgment debts are controlled. In any case i am happy the govt accounts has been frozen. this will help prevent those cr1m1nals from stealing further for their campaign. need more details
Tooooooolllllliiiii Story. please George Wiafe be professional and serious! "A senior government official said the freeze is affecting his ability to fuel his official vehicle to conduct government business". Who is s/he? No name? please come again!
More information needed. When was the money to government for that purpose available. Its a report of political equalisation.
Nana Peter, did you read the Story very well to understand what it's all about ?. Or you only saw 2005 & 2006, so you jumped into conclusion to accused the NPP ?. Let me help you here: It said, the Private Man won a Contract with the Government of Ghana. Unlike your Agbesi Woyome who had no Contract with Government of Ghana, but got his create loot and shares to paid him. After the Private Man won the Contract, the Government failed to honour it's part of the Contract, but diverted the Money into different Account, instead of the Joint Account with the Private Man. This is simple, whoever was responsible at that time, working in the Government, should be call, to tell us where they Diverted the Funds to, and WHY ?. This is not a Matter of Blaming the NPP, because it happened in 2005 & 2006. On the other hand, I think the Supreme Court Freezing Government Account is good for Ghana, at this time of the Year. It will even help to prevent NDC Officials to misuse the Funds for their Campaign. Nana Peter, don't you think so ?. God is saving the remaining Cedis with the misfortune. Some misfortunes are truly BLESSING.
just see what NPP has done under former president kuffour DIPPING INTO STATEcoffers wrongly(***barred word***) and now they are rather calling NDC LOOTERS God will see us all. SHAME TO NPP. See "Explaining the trajectory of events, Joy Business editor George Wiafe said government entered into a contract with a private businessman to roll out a rural electrification project between 2005 and 2006".