Ablakwa accuses Akufo-Addo’s brother-in-law of $5m conflict of interest transaction with BoG

The Member of Parliament for North Tongu, Samual Okudzeto Ablakwa, has accused the Director of Marine Metro Development Limited, Dr Kwame Nyantekyi-Owusu, who he claimed is a brother-in-law of President Nana Addo Dankwa Akufo-Addo, of conflict of interest in the award of a contract by the Bank of Ghana.

According to Ablakwa, Dr Nyantekyi-Owusu is a non-executive director of the board of the Bank of Ghana (BoG) but his firm, Marine Metro Development Limited, was initially awarded the contract for the construction of the new head office of the central bank and a payment of $5 million was made.

The MP, in a post shared on X (formerly known as Twitter), on Monday, September 11, 2023, indicated that he has filed a Right to Information request at BoG to demand the details of the transactions.

“At 10:40 am today, this Right to Information Request was formally presented to the Bank of Ghana.

“It basically relates to a US$ 5 million (GHS57 million) conflict of interest transaction between the BoG & President Akufo-Addo’s brother-in-law. For God and Country,” parts of the post read.

The post had a copy of the Right to Information request which reads in parts as follows:

“What happened to the initial decision of the current management of the Bank of Ghana to construct its new head office at the Accra Marine Drive Project, particularly, following a number of board resolutions and field visits to the Accra Marine Drive enclave between 2017 and 2020. How was Marine Metro Development Limited engaged by the Bank of Ghana and what are the terms of this engagement?

“Why did the Bank of Ghana pay Marine Metro Development Limited an amount of US$5 million which was received in the Ghana Commercial Bank account of Marine Metro Development Limited in December 2020? Considering that the Bank of Ghana is constructing its new controversial head office at a different location that is at West Ridge, why has Marine Metro Development Limited not refunded the US$ 5 million it received from an alarmingly distressed central bank which has made unprecedented losses of a staggering GHS60.8 billion?

“Incontrovertible incorporation documents obtained from the Office of the Registrar of Companies reveal that Dr. Kwame Nyantekyi-Owusu is a Director of Marine Metro Development Limited. (A copy is duly attached for your consideration). From the Bank of Ghana's 2020, 2021 and 2022 Annual Reports and Financial Statements, it is noted that Dr. Kwame Nyantekyi-Owusu has been appointed to and serves as a Non-Executive Director of the board of Bank of Ghana. Does this not present an unmistakable and unmitigated case of blatant conflict of interest?”

The North Tongu legislator has been leading exposés of alleged corruption scandals in the Nana Addo Dankwa Akufo-Addo government. He has alleged corruption allegations in the construction of the National Cathedral of Ghana among others.

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View Ablakwa’s post plus the documents he shared below:

At 10:40am today, this Right to Information Request was formally presented to the Bank of Ghana.

It basically relates to a US$5million (GHS57million) conflict of interest transaction between the BoG & President Akufo-Addo’s brother-in-law.

For God and Country.

Ghana First ???????? pic.twitter.com/6GiQYPIXwf

— Sam Okudzeto Ablakwa (@S_OkudzetoAblak) September 11, 2023

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