The Kufuor government has for unexplained reasons withdrawn the charges preferred against former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Tsatsu Tsikata for causing financial loss to the state through carelessness.
Tsikata was charged for causing financial loss of about 2.2 billion cedis to the state, following forensic auditing of the GNPC. He pleaded not guilty and is on 500 million cedis self-recognisance bail.
Information available to Myghananews.com indicates that Director of Public Prosecutions Osafo Sampong in a letter to the Circuit tribunal chaired by Imoru Ziblim only stated that "Take notice that the State intends that the proceedings against the accused person TSATSU TSIKSATA in the above named case shall not continue."
The circuit tribunal had at its sitting on the 30th of last month adjourned proceeding to the 26th of this month after the prosecution failed to show up in court.
The tribunal had at its previous sitting on January 8, granted the prosecution three weeks to conduct further investigations into the case.
The case will however not be called again with the latest unexplained decision by government.
Sources close to the Attorney General's Department told Myghananews.com that like the Sherry Ayittey case, government is contemplating sending the case to the Fast Track Court.
The real intention of this move is however to secure new bail terms that will prevent the former GNPC boss from traveling outside and earn a living. A highly placed source hinted that Tsatsu will be hauled before the Fast Track court within days.
Tsatsu Tsikata was a couple of weeks ago prevented by Immigration officials stationed at the Airport who claimed that they were on orders. Reference was later made to the on-going case, but reports later indicated that the bail terms does not include preventing him from traveling outside the country.
He was on a 500 million cedi self-recognisance bail.
The former GNPC boss was allegedly to have by-passed the Board of Directors of the Corporation and guaranteed a loan of 5.5 million French francs and another 1.4 million French francs with interest inclusive to Valley Farm, a private cocoa growing company of which GNPC held an initial share of 17.39 per cent.
The loan, totalling about 2.2 billion cedis was from the Caisse Francaise de Development, a French aid agency.
Valley Farm was said to have used the loan to rehabilitate three cocoa farms located at Assin Manso in the Central Region, Dadieso and Nyakoman in the Western Region.
The Prosecution said Valley Farm went distressed and defaulted in repaying the loan, compelling Tsikata, without prior approval of the Board of Directors, to pay the loan as well as interest totalling 6,919,123 French francs out of GNPC funds.
