The Minority in Parliament has accused Finance Minister Ken Ofori-Atta of flouting rules and guidelines of the Bank of Ghana (BoG) as well as engaging in several infractions in relation to the $2.25billion bond issued by the government in 2017.
The Commission on Human Rights and Administrative Justice (CHRAJ) investigated the issuance of the bond following allegations of conflict of interest against Mr Ofori-Atta by the Minority and subsequently cleared him of any wrongdoing.
After studying the report, the Minority maintains that CHRAJ has raised various concerns which raise questions about the legitimacy of the issuance of bond.
At a press conference on Wednesday, 31 January, Minority Leader Haruna Iddrisu stated that the highlights of CHRAJ's findings indicate that the issuance of the bond contradicts BoG's own rules surrounding the sale of bonds.
He said the report indicates that: “The issuance calendar for the first-quarter did not include the issuance of seven-year and 15-year bonds, the trading of which concluded on 31 March 2017, which is within the first-quarter period and not the second-quarter calendar.
“On receipt of the second-quarter issuance calendar at 12:31 PM on 30 March 2017, the Bank of Ghana made an announcement to the public on the re-opening of five-year and 10-year bonds with an indication that this must be submitted electronically through the auction model not later than 3PM on Thursday, March 30, 2017 and settlements will be on Monday, April 3, 2017. Again, CHRAJ notes [that] this contradicts the Bank of Ghana's own rules requiring the Bank of Ghana to announce periodically but not less than a week before auction, the amounts and specific details of the financial instruments available in the case the five-year, seven-year, 15-year bonds at the next auction and their maturity profiles”.
For him, the breach of the period of issue raises red flags which further corroborate the Minority’s earlier suspicion of conflict of interest on the part of the minister.
Mr Iddrisu added that CHRAJ further notes in its report that: “In terms of the seven-year and 15-year bond, the Bank of Ghana gave only a one-day notice to the market on the availability of the seven-year and 15-year bonds prior to the commencement of trading, instead of the two weeks required for new products under the Bank of Ghana guidelines”.
“So where is the transparency?” the Member of Parliament (MP) for Tamale South questioned.
He also added that the CHRAJ findings indict the Finance Minister of breaching aspects of the asset declaration law as well as deceit of public officers after he willfully concealed his interests/assets in several financial institutions.
The Minority, therefore, urged Mr Ofori-Atta “to bow out honourably” and also gave President Nana Akufo-Addo a 14-day ultimatum to fire the minister “as a matter of urgency”, failure of which they will invoke Article 82 of the 1992 Constitution to have him censured.
Source: classfmonline.com
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Ken is not telling NDC directly in the face that they are incompetence and that is exactly what makes the irony of it. And it seems to be more effective than telling them in the face. Rather,Ken has maturely demonstrated with competence, Devotion,patrotism and hardwork that he could manage the economy far better in one year than NDC's 8 years of incompetent Administration. And they feel uncomfortable and are trying desperately to get raid of him but that will definitely not work.Thus, deeds not words seem to send shiver in the spine of NDC.They tried with Vice President and Osafo Marfo and it didn't work and now Ken is in the line.
waaa loook at their ***barred word*** faces...enemies of progress...abayifoc mp3 adepa ampa
Haruna Idddiyotic! You are quite a sense.less person. Now I can see plainly that this is what you are. Go to wherever you want now! Right now! Because Ken is not going anywhere! Even if Nana makes a mistake to sack him, we will not agree! We shall protest till he is reinstated. You have devalued yourself, the womb the birthed you and the breast that suckled you. You are a disgrace to the people of the North. Fiafitorvi! Julor k3 ehie afei!
he will not resign, u ed10ts can go to hell. it is becoming a reality for these ndc ple that they will be in opposition forever if they dont find away to eliminate key officers in this current govt due to their hard work. they are targeting Dr. Bawumia, Ken Ofori-Atta and others. Fellow Ghanaians, pls let us continue to pray for Nana Addo and his team bcos they are not fighting to save this nation but also fighting against demons. lets help them fight against these demons through our little prayers. ndc is an evil party and can go any length to get what they want. we know their records. pls lets do this for our country. thank you.
this NDC minority in parliament are so funny,oooo my God,they are still incompetends in opposition too opposite
U lie Bad! So,any God gifted individuals such Dr Bawumia and Ken Ofori Atta that is doing good job for mother Ghana economy to revive sporadically becomes a heart problem for NDC so-called MPs. Why are u such nation wrec kers like this.So, u want him to resign on what basis? It will never happen today or 2moro. If u don't like the good works the leadership of NAAD is doing for this great country then dust ur passports and move to Togo or hung the nearest transformer. What all these!!! We are tired of these use less and vision less minority MPs.We the citizenry are quite happy on the right initiatives we are enjoying in this current govt. Ain't a politician but I see the great works emanating in this loving country of ours.
If there are any names in the world that scares NDC, it is Ken Ofori Ata and Dr Bawumia. These group of clueless creat, l..o..ot and share gangsters are so afraid of their curropt shadows that they want other people to taint them with their robbery traits even when the whole world know those individuals as incorruptible. Most Ghanaians now know NDC party as a party of destruction and nation wrackers. The day of reckoning will surely come when all of your thie,.,very , stealing and blatant rape of mother Ghana’s economy/resources will be exposed . Loosing an election has made you guys to loose your senses aba. Why this ***barred word*** noises of nuisance values.
If the irregularities of the 2012 election result sent to the supreme court by the then opposition(NPP) could not annulled the election results then, honorable minorities, please and please allow the Honorable Finance Minister to do his work no matter how different flags you raise.
in fact if you have people who don't know their left and right in the country, is a big problem. The minority has lost it and they are no more relevant.
NDC is SHAKEN by the GOOD works of Ken, hence the noise!