$2.25 bn bond Archives - Citi 97.3 FM - Relevant Radio. Always https://citifmonline.com/tag/2-25-bn-bond/ Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz Thu, 27 Apr 2017 18:05:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.8 https://citifmonline.com/wp-content/uploads/2019/05/cropped-CITI-973-FM-32x32.jpg $2.25 bn bond Archives - Citi 97.3 FM - Relevant Radio. Always https://citifmonline.com/tag/2-25-bn-bond/ 32 32 NDC’s Brogya Genfi petitions CHRAJ over $ 2.25bn bond https://citifmonline.com/2017/04/ndc-brogya-genfi-petitions-chraj-over-2-25bn-bond/ Thu, 27 Apr 2017 18:05:06 +0000 http://citifmonline.com/?p=314526 The Ashanti Regional Youth Organiser of the National Democratic Congress (NDC), Yaw Brogya Genfi, has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ), to investigate the $ 2.25 billion bond issued by government. This petition follows concerns by the Minority over what they term as “conflict of interest” in the deal, which the […]

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]]> The Ashanti Regional Youth Organiser of the National Democratic Congress (NDC), Yaw Brogya Genfi, has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ), to investigate the $ 2.25 billion bond issued by government.

This petition follows concerns by the Minority over what they term as “conflict of interest” in the deal, which the Government has vehemently denied.

[contextly_sidebar id=”wQ2Vf25Av4v0MNukwpVqUFuYV9gOG18E”]The Minority had alleged that the Finance Minister, Ken Ofori-Atta, secured 95 percent of the bond for family and friends.

Brogya Genfi, in his petition, sided with this position, saying Mr. Ofori Atta “has attempted to promote a private or personal interest for himself or for some family members and business associates, and the promotion of the private interest has resulted in, or was intended to result in, or appears to have resulted in, or has the potential to result in an interference with the objective exercise of his duties and an improper benefit or an advantage by virtue of his position”

Mr. Genfi also demanded that the following questions must be answered:

  • Was a substantial portion of the bond purchased by Franklin Templeton Investments, if so, how much? • Is Trevor G. Trefgarne a Director of Franklin Templeton Investments?
  • Is Trevor G. Trefgarne the Chairman/Director of Enterprise Group Ltd?
  • Are Dr. Mrs. Angela Ofori-Atta, Mr. Keli Gadzekpo, Hon. Gloria Akuffo and Hon. Ken Ofori-Atta Directors of the Board of Enterprise Group Ltd.?
  • If not, were they Directors of the Board in the immediate past?
  • Does Databank Ltd. own part of Enterprise Group Ltd. or any of its affiliates?
  • Does Hon. Ken Ofori-Atta have any shares or business interest in Databank Ltd. or did he have any shares or business interest in the immediate past? •
  • Is Keli Gadzekpo a business partner of the Minister for Finance or was Keli Gadzekpo a business partner of the Minister for Finance immediately before the Minister was sworn in as Minister for Finance?
  • Did Hon. Gloria Akuffo resign from the board of Enterprise Group Ltd. and, if so, was this before the commencement of the process of the bond issuance?
  • Did Hon. Gloria Akuffo, as Attorney-General & Minister for Justice, have no knowledge of the bond arrangement and, if so, why not?
  • Were the initial pricing guidelines of the Bond issued around 5:37pm on March 30, 2017, after normal working hours?
  • Was the transaction opened around 9.00am on March 31, 2017, and closed around 4.20pm of the same day?
  • Was the transaction opened before the announcement was made to the public? • Was the placement method used competitive and transparent or was it “cooked” for one single investor? • Did the Minister for Finance make full disclosure of his relational interest in the bond issuance either before or during the process?
  • Did the Attorney-General make full disclosure of her relational interest in the bond issuance either before or during the process?
  • Did the Minister for Finance adhere to the 1992 Constitution, the Code of Conduct for Public Officers of Ghana, CHRAJ’s guidelines on conflict of interest for Public Officers, and other relevant rules and laws pertaining to conflict of interest and issues of corruption?
  • Should the Minister for Finance resign or be removed from office?
  • Did the Attorney-General and Minister for Justice adhere to the 1992 Constitution, the Code of Conduct for Public Officers of Ghana, CHRAJ’s guidelines on conflict of interest for Public Officers, and other relevant rules and laws pertaining to conflict of interest and issues of corruption?
  • Should the Attorney-General resign or be removed from office?

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By: Marian Ansah/citifmonline.com/Ghana

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