$700m loan: ACEP to drag GNPC to court if…

The African Centre for Energy Policy (ACEP) is threatening to drag the Ghana National Petroleum Cooperation (GNPC) to court if it sidesteps parliament to secure a 700-million dollar loan facility.

ACEP has described GNPC’s decision to resort to Ministerial instead of Parliamentary approval of the loan as a selective application of the law.

GNPC has come under a barrage of criticism following the move to facilitate its further participation in the oil and gas sector.

Director of Operations at ACEP Benjamin Boakye told STARR BUSINESS that his outfit has no choice than to drag the corporation to court if it goes ahead with the move.

“If it becomes necessary we will have to go to court to ensure that the right thing is done because a state institution cannot just get up one day and procure $700 million in the name of the people and no approval from the people.

“I think that it is in the interest of the GNPC itself if they have nothing to hide, to bring it to the people for the people to subject the programmes that they want to undertake with that money and then give the necessary approval,” Boakye said.