General News of 2014-04-09

'SADA Board Chair is clearly in conflict of interest'

Private legal practitioner, Prof. Ken Agyemang Attafuah, says the Board Chairman of the Savannah Accelerated Development Authority (SADA), Alhassan Andani may have placed himself in a conflict of interest situation.
Mr. Adani’s Stanbic Bank is the holder of SADA’s GH¢74.5 million account- an amount lodged with the bank since December 2012.
Prof. Attafuah says Stanbic Bank ought not to have been considered in the first place as one of the banks that could hold SADA’s account because of Mr. Andani’s position both as Chairman of SADA and as Managing Director of Stanbic Bank.
Joy News investigations into the operations of SADA, an agency set up by government to coordinate a special development programme to bridge the wealth gap between the northern and southern parts of the country, have racked up maladministration, malfeasance and questionable transactions.
An audit report covering the agency’s financial transaction in 2012 has faulted managers of the Authority for investing GH¢74.5 million in a call account at the Stanbic Bank headed by its Board Chairman, Mr. Andani.
Information and Media Relations Minister, Mahama Ayariga, told Joy FM’s Super Morning Show host Kojo Yankson on Tuesday there was no conflict of interest on the part of Mr. Andani.
“If Stanbic was offering them (SADA) the best terms relative to all other banks, irrespective of the fact that the Chairman of the Board of SADA is also the CEO of Stanbic, I think that prudence will require that they go to Stanbic Bank”, he explained.
But Prof. Ken Attafuah disagreed.
He said the 1992 Constitution specifically prohibits persons who hold public office from conduct that appears to place them in a position where their roles in the public office collide with their private interest.
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