Defeated New Patriotic Party presidential candidate in the 2012 elections is ready to make a return to the court room this time as a witness to clear doubts that have arisen as a result of the controversial sale of the GNPC drill ship.
Nana Akufo-Addo who was the Attorney General during the sale of the $24 million drill ship has been indicted by some critics for his role in the transaction.
Currently cooling off outside Ghana after the eight months long presidential election petition, the NPP leader will appear before the Judgement Debt Commission if invited, to clear the air on the transaction, Editor-In-Chief of the New Crusading Guide, Malik Kweku Baako, has confirmed.
According to him, Nana Addo told him he is ready to lead the Commission to unravel the mystery behind the sale of the ship.
He was speaking on Joy FM’s Newsfile on Saturday.
Kweku Baako Jnr said contrary to claims that the NPP government dabbled in financial malfeasance and pocketed some $3.5 million from the sale of the drill ship, it is clear from the facts available to him that the Kufuor administration rather rescued the Corporation from the mess it had been entangled in by the NDC.
He said way back in 1998-1999, the Tsatsu Tsikata-led GNPC had incurred a debt of $47 million in a transaction with Societe-General and was in court with the French Bank over the debt.
As part of the transaction, Baako indicated that Tsikata had agreed to sell the drill ship to offset the debt incurred in the transaction.
When the Kufuor government assumed power in 2001, it was faced with the near collapse of the Corporation and needed to take measures to salvage it.
An ex-GNPC boss, Amos Ofori Quaah had told the Judgement Debt Commission that he was not privy to any judgement debt document filed by Societe General, neither was he party to any of the transaction in the sale of the drill ship.
But on Newsfile, Kweku Baako quoted copiously a UK High Court document dated June 6, 2001, in which GNPC was said to be indebted to Societe General to the tune of $40 million with an additional interest.
He also quoted a 9 July 2001 document in which the Discoverer 511 drill ship was under precautionary arrest in Oman as a result of the wrangling between GNPC and Societe General.
Faced with these challenges, the Kufuor government had to take steps to arrest the situation.
He said K.T. Hammond who was then a deputy Minister of Energy was tasked to resolve the impasse between the GNPC and Societe General, to save the country from incurring further cost. He was given the power of attorney to act for and on behalf of GNPC to clear the mess created.
Baako insisted this move was a political decision which can be defended any day.
Hammond, he further explained, then negotiated with Societe General and managed to beat down the debt of $47 million to $19.5 million.
Baako said the government went ahead to sell the drill ship which was competently valued and sold at a cost of $24 million.
The Crusading Guide newspaper editor again quoted a 16 July 2001 payment order, which “ irrevocably and unconditionally” directed the payment of $19.5 million to Societe General, which were monies accrued from the sale of the drill ship.
Malik Baako again quoted a document, a cheque which was an order of the government of Ghana for 3.5m dollars to be transferred from the Ghana International Bank- UK, into the government of Ghana account in New York. That account is available and can be audited, he stressed.
It is therefore not true for anybody to suggest that K.T. Hammond after paying the 19.5 million dollars misappropriated the remaining amount left from the sale of the drill ship, he concluded.
A member of the NDC, Abraham Amaliba, who was a panel on the show said the whole transaction “stinks to the core.”
He demanded to know how the money that was accrued from the sale of the drill ship was expended.
He said the GNPC has no record on the payment of the judgement debt as a result of the sale of the drill ship and questioned why K.T. Hammond gave contradictory accounts after the sale of the ship.
Amaliba said by law, GNPC can operate on sound commercial lines and has a foreign account into which monies accrued from foreign transactions will be paid.
He wondered why the GNPC was not allowed to lead the negotiations.
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