accused<\/a><\/strong>\u00a0<\/span>Ken Ofori Atta for flouting public procurement rules by approving the GHc 10,459,500 loan for the company to undertake a government contract.<\/p>\nBut speaking to journalists, the Finance Minister denied breaking the law.<\/p>\n
\u201cThat will be the purview of the credit committee of the bank\u2026with banking transaction, the credit committee goes through and then makes their recommendation. I would imagine that on my part it was the right thing,\u201d he explained.<\/p>\n
According to the Minority, the failings stem from the failure of the President to constitute the requisite governing boards, including that of adb, to oversee such transactions.<\/p>\n
Addressing the press in Accra on Tuesday, the Minority Leader, Haruna Iddrisu, appealed to the media \u201cto probe further whether this contract was awarded through an open competitive tender process to guarantee and ensure value for money.\u201d<\/p>\n
He also accused Mr. Ofori-Atta of reducing \u201cthe mandate and role of the Ministry of Finance to some credit disbursement entity in order that they can reward the political cronies.\u201d<\/p>\n
\u201cThe minister usurped the authority and functions of the Bank and its Board of Directors, which has curiously not been constituted so we are concerned. So where are the Board of Drectors of the major financial institutions of our country?\u201d Mr. Iddrisu queried.<\/p>\n
–<\/p>\n
By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister, Ken Ofori Atta has rejected claims he breached due process by approving a loan facility from Agricultural Development Bank to McDan Shipping Company Limited. He argues that the bank’s credit committee was responsible for \u00a0the ultimate approval or otherwise. [contextly_sidebar id=”P4atpPUu9k8auD27M3KE2EgZlx21zjP1″]The Minority has\u00a0accused\u00a0Ken Ofori Atta for flouting public procurement rules by approving the […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,171,11],"tags":[9397,3,2254,7117,1161],"yoast_head":"\n
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