Drill ship deal still stinks; $3.5m not traceable

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JAMREAH 12 years ago

PRESIDENT MAHAMAH USE LATE KWAME NKRUMAH'S STRATEGY TO FIGHT THE ECONOMIC SABOTEURS.YOU CAN DO THAT VERY SWIFTLY.ASK DR SEKOU NKRUMAH TO SHOW YOU WHERE YOU CAN FIND USSHER FORT AND JAMES FORT.SEKOU KNOWS NSAWAM LET HIM TAKE T ...
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PRESIDENT MAHAMAH USE LATE KWAME NKRUMAH'S STRATEGY TO FIGHT THE ECONOMIC SABOTEURS.YOU CAN DO THAT VERY SWIFTLY.ASK DR SEKOU NKRUMAH TO SHOW YOU WHERE YOU CAN FIND USSHER FORT AND JAMES FORT.SEKOU KNOWS NSAWAM LET HIM TAKE THE CRIMINALS THERE BY ADOPTING HIS FATHER'S CRUDE METHOD.
Johnson Mensah 12 years ago

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.
KKK 12 years ago

KUFFOURS LEGACY FOR GHANA AND DAQUAH-DOMBO-BUSIA SELL-OFFS.

KUFFOURS LEGACY FOR GHANA AND DAQUAH-DOMBO-BUSIA SELL-OFFS.
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Bony 12 years ago

Some people sold the ship right, the ship didn't sell itself so EOCO or whatever your name is stop behaving like a dog who is trying to catch it tail and arrest all these criminals.....

Some people sold the ship right, the ship didn't sell itself so EOCO or whatever your name is stop behaving like a dog who is trying to catch it tail and arrest all these criminals.....
tsatsu fiafittor tsikata 12 years ago

WHY ARE GHANAIANS NOT INTERESTED IN WHAT TSATSU TSIKATA DID WITH THE $47 MILLION DOLLAR LOAN...$again, WHAT DID TSATSU TSIKATA DO WITH THE $47 MILLIONS WHEN WE DID NOT SEE ANY OIL EXPLOITATION IN TANO BASIN OR KETA LAGOON?

WHY ARE GHANAIANS NOT INTERESTED IN WHAT TSATSU TSIKATA DID WITH THE $47 MILLION DOLLAR LOAN...$again, WHAT DID TSATSU TSIKATA DO WITH THE $47 MILLIONS WHEN WE DID NOT SEE ANY OIL EXPLOITATION IN TANO BASIN OR KETA LAGOON?
EVIL DWARF FROM KYEBI 12 years ago

You will cough the money! Motherfucker!

You will cough the money! Motherfucker!
Nicholas J Bedzo 12 years ago

These are sound questions to ask,if
there be a fitious dealings the
documents will be lost,if it is over
10years then is gone.

These are sound questions to ask,if
there be a fitious dealings the
documents will be lost,if it is over
10years then is gone.
Johnson Mensah 12 years ago

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.

Johnson Mensah 12 years ago

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.

First and foremost they said there are on documents so right now where did they get the papers ? Only I'm asking for I want to know where are we heading to.
Kwame Boateng 12 years ago

God only can unravel something that is burried in the bowels of the earth.

God only can unravel something that is burried in the bowels of the earth.
KKK 12 years ago

SURE THERE IS SOMETHING THERE FOR THOSE WHO WORSHIP HIM.

SURE THERE IS SOMETHING THERE FOR THOSE WHO WORSHIP HIM.
citizen 12 years ago

i support pc appiah those who sold the drill ship should be punished by law.no one is above the law O God save Ghana.Amen

i support pc appiah those who sold the drill ship should be punished by law.no one is above the law O God save Ghana.Amen
Zaga 12 years ago

Kufuor and his gang of thieves robbed Ghana blind, then pretend and shout at the top of their voice that the other guys are the thieves. They should be rooted out one by one.

Kufuor and his gang of thieves robbed Ghana blind, then pretend and shout at the top of their voice that the other guys are the thieves. They should be rooted out one by one.
STRAIGHT TALK 12 years ago

Ghanaian politicians and so called businessmen condon with foreigners to rob the nation. So called judgment debt is just one way of doing that.

Ghanaian politicians and so called businessmen condon with foreigners to rob the nation. So called judgment debt is just one way of doing that.
GHANA VI 12 years ago

So you see the too knowing arrogant NPP.K.T Harmon is a nice man but he should know that bighead and old age does not mean custodian of knowledge.He should stop insulting MINISTER KWAKYE FOSU.

So you see the too knowing arrogant NPP.K.T Harmon is a nice man but he should know that bighead and old age does not mean custodian of knowledge.He should stop insulting MINISTER KWAKYE FOSU.
STEVO 12 years ago

Where are the documents that say that we sold the drill ship for $24m?

Ghana is doomed.

Where are the documents that say that we sold the drill ship for $24m?

Ghana is doomed.
Papa Yaw 12 years ago

Yes

Yes
STEVO 12 years ago

Papa Yaw

Which documents are you talking about?

The Sale and Purchase Agreement?

Come again.

Papa Yaw

Which documents are you talking about?

The Sale and Purchase Agreement?

Come again.

Papa Yaw 12 years ago

Oh ho

Oh ho
SAMPSON 12 years ago

K.T.HAMOUND STEALLERS OJULOREEE. JDM JAIL ALL OF THEM.

K.T.HAMOUND STEALLERS OJULOREEE. JDM JAIL ALL OF THEM.
SAMPSON 12 years ago

whenever its NPP comments are less hummmmmmm! GHANA

whenever its NPP comments are less hummmmmmm! GHANA
Say the Truth 12 years ago

LET THE TRUTH PREVAIL!!! OTHERWISE IT WOULD JUST BE NOISE MAKING & PROPAGANDA WITH NO BITE & CONVICTION IN COURT IF THERE IS NO FIRE WITH ALL THE PROPAGANDA SMOKE!!!!!

CALL ALL INVOLVED INCLUDING THE BANKS - GHANA INTERNAT ...
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LET THE TRUTH PREVAIL!!! OTHERWISE IT WOULD JUST BE NOISE MAKING & PROPAGANDA WITH NO BITE & CONVICTION IN COURT IF THERE IS NO FIRE WITH ALL THE PROPAGANDA SMOKE!!!!!

CALL ALL INVOLVED INCLUDING THE BANKS - GHANA INTERNATIONAL BASED ON THE DOCUMENTS IN PUBLIC DOMAIN, GET COURT COURT DOCUMENTS ON JUDGMENT/PAYMENT ORDER ON THE SEIZURE OF THE RIG SHIP, COURT ORDER TO SELL THE SHIP BY THE COURTS, BANK DOCUMENTS ON TRANSFERS TO VARIOUS ACCOUNTS, DETAILS OF TRANSFERS FRO BANK STATEMENTS (ALL COULD BE ATTAINED BY GOVERNMENT REQUEST TO THE BANKS INVOLVED)!!!!

DON'T LET KWEKU BAAKO & CRUSADING GUIDE DO THE JOB FOR GHANA AND PLAY AROUND PROPAGANDA WITH LIES AND DECEPTIONS OF WHICH NO PROSECUTION COULD NOT BE IMPLEMENTED!!!!!

WE ARE SICK AND TIRED OF MERRY GO ROUND & ROUND WITH NOOOOOOOOO EFFECTIVE ACTION!!!!!!!!!!!!!!!!!!!!!!!

LET THE TRUTH PREVAIL!!!!!!!!!!!!!!
GENERAL DeGAULE 12 years ago

"the balance of £1,008 transferred into another account, with the same International Commercial Bank."

A gentleman by name Kobena has claimed like Kwahu Baako that he has evidence that the 43m was transferred into the G ...
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"the balance of £1,008 transferred into another account, with the same International Commercial Bank."

A gentleman by name Kobena has claimed like Kwahu Baako that he has evidence that the 43m was transferred into the Ghana Government with Chase Manhattan Bank.

Perhaps he can emerge from his hideout to give us the facts.
Say the Truth 12 years ago

GNPC $24m Drillship Account Confirmed

Published on November 7, 2013

Grace Adzroe, Acting Controller & Accountant-General

VITAL DETAILS are now emerging on the sale and disbursement of the Ghana National Petroleum Co ...
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GNPC $24m Drillship Account Confirmed

Published on November 7, 2013

Grace Adzroe, Acting Controller & Accountant-General

VITAL DETAILS are now emerging on the sale and disbursement of the Ghana National Petroleum Corporation’s (GNPC’s) Drillship as the acting Controller & Accountant-General, Grace Adzroe has confirmed the existence of the account in which the proceeds of the oil rig were lodged.

GNPC’s Drillship Discoverer 511 was sold for $24million by the Kufuor administration in 2001 to defray multiple indebtedness of the state-owned oil corporation including $19.5million judgment debt to French multinational bank, Societe Generale.

Out of the total amount, $1million was used to settle legal fees and other bills of GNPC with the remaining $3.5million said to have been paid into a foreign account of Ghana.

The disposal of the ship had been a subject of fierce controversy in the last weeks when the issue was picked up by Sole Commissioner, Justice Yaw Apau who is investigating huge judgment debts and compensation payments to institutions and individuals.

However, the acting Controller & Accountant-General, Mrs. Adzroe yesterday confirmed the existence of the account number 0001191613 at the Ghana International Bank (GIB) in UK where the $24 million was deposited.

She also provided correspondences to the Judgment Debt Commission, indicating monies were transferred from the said account to pay GNPC’s debts.

Mrs. Adzroe indicated the Drillship account, which was solely owned by the Government of Ghana, was opened by the Controller & Accountant General’s Department on July 26, 2001 through their Treasury Officer at Ghana High Commission in UK.

According to her, the account was closed down in 2005 and a balance of £1,008.78 was transferred into the Treasury Officer’s account number 0001191610.

Asked by counsel for the sole commissioner, Kofi Dometi Sokpor, about the institution that gave the Department the authorization to open the account, Mrs. Adzroe could not confirm authority but promised to get back to the Judgment Debt Commission with the details.

She promised to provide to the commission all the details on the transfers from the Drillship account and the authority that gave the Controller & Accountant General to open the account.

GNPC’s Indebtedness

Some of the documents Mrs. Adzroe presented to the Judgment Debt Commission, which were in the possession of the DAILY GUIDE, disclosed how monies accrued from the sale of the drillship were withdrawn from the GIB account to pay GNPC’s indebtedness to various companies.

For instance, a letter dated September 5, 2003, which was written by the then Deputy Minister for Finance and Economic Planning, Dr. Anthony Akoto Osei authorized the Controller & Accountant-General to transfer various sums of money to pay GNPC’s indebtedness to Aquatic Engineering and Construction Limited following a request from the Ministry of Energy.

The letter read: “Please refer to the Minister of Energy’s letter No. SCR/AZ 168/168/01 of 22nd August, 2003 on the above subject.

“You are hereby authorized to transfer an amount of US$1,088,961.48 (One million eighty-eight thousand, nine hundred and sixty one dollars and forty-eight cents) from Account No. 0001191613 which is the Drill Ship D511 account to pay Aquatic Engineering and Construction Limited for maintenance of a GNPC vessel in Angola.

“The amount is to be transferred to Aquatic Engineering and Construction Account as indicated below: Account Number: 28991USD01; Bank: Bank of Scotland, A-LBYN PLACE, ABERDEEN; Sorting Code: 80-05-14.

“By copy of this letter, the Director of the Foreign Operations, Bank of Ghana is being informed of this transaction.

Consequently, the Controller & Accountant-General, John Prempeh acknowledged the receipt of Dr. Akoto Osei’s letter and per letter dated September 9, 2003, directed his Treasurer Officer at the Ghana High Commission in UK to release funds from Drillship D511 account to Aquatic Engineering and Construction Limited.

In the letter, Mr. Prempeh directed, “You are hereby authorized to transfer the sum of US$1,088,961.48 (One million eighty-eight thousand, nine hundred and sixty one dollars and forty-eight cents) from Treasury Officer Special Dollar Investment Account No. 0001191613 at the Ghana International Bank PLC, 69, Cheapside, London into the following Bank Account as per details below for the credit of Aquatic Engineering and Construction Company Limited.

“Account Number: 28991USD01; Bank: Bank of Scotland, A-LBYN PLACE, ABERDEEN; Sorting Code: 80-05-14.”

Furthermore, Aquatic Engineering and Construction Company Limited per a letter dated August 11, 2003 acknowledged receipt of additional $250,000.00 from the Drillship account.

GNPC’s Indebted to CDH

Available documents have revealed that GNPC was also indebted to CDH, running into billions of cedis and the Kufuor administration had to again fall on the Drillship account to pay the debt.

Albert Kan-Dapaah, former minister for Energy in a letter dated December 22, 2003 requested the minister for Finance to pay the GNPC’S indebtedness to CDH from the Drillship account.

The former Energy Minister had indicated that the “GNPC’s indebtedness to CDH of about ¢30 billion was recently settled in negotiation at 14.3 billion.

“The decision has necessitated the mobilization of funds to meet the stipulated payment deadlines, (well, they have been overrun). The first ¢4 billion has been paid out of GNPC’s available funds leaving an unpaid balance of 10.3 billion.

“I should be grateful if you could transfer the remaining balance of about US$450,000 from the D511 Drillship Account Number 0001191613 with Ghana International Bank Plc, London for partial settlement of the outstanding balance.

“Additionally, I also appeal to you to consider settling the further balance of ¢6.3 billion from Government coffers since GNPC cannot possibly meet this obligation. It simply has no funds of its own,” the letter concluded.

Dr. Akoto Osei’s Reply

Responding to the letter, Dr. Akoto Osei stated in a correspondence dated January 16, 2004: “I have just been informed that the balance in the D511 Drillship Account Number 0001191613 with Ghana International Bank is $601,726.00

“Subsequently, I am glad to inform you that approval has been given for an amount of $550,000 to be transferred from this account to the CDH account quoted below at the interbank rate of ¢8,881.55. This translates to ¢4,884,852,500.00. This will leave a balance of approximately ¢5.41 billion of GNPC’s indebtedness to CDH.

Controller & Accountant-General’s Response

Based on the January 16, 2004 letter from Dr. Akoto, E. A. Ofosuhene, acting on behalf of the Controller & Accountant-General directed the Treasury Officer at Ghana High Commission in UK to release money to CDH.

“You are hereby authorised to transfer the sum of US$550,000.00 (Five Hundred and Fifty Thousand US Dollars) from the Treasury Officer Special Dollar Investment Account No.: 0001191613 at the Ghana International Bank PLC, 69 Cheapside, London to Account No. 01725102, Sorting Code: 700613 at Ghana International Bank PLC, London, UK for the credit of CDH.

“The transfer is to enable the GNPC pay part of their outstanding indebtedness to CDH,” Mr. Ofosuhene indicated.

It is not immediately clear if all these payments were from the balance of the $3.5 million from the Drillship sale, which is said to be ‘missing’.

By Awudu Mahama/Daily Guide
KOBLA ZEGO 12 years ago

IAM STILL SURPRISED ABOUT THE STONY SILENCE FROM KUFFOUR AND NANA AKUFFO ADDO, THE REAL VENDORS OF THE DRILLSHIP

IAM STILL SURPRISED ABOUT THE STONY SILENCE FROM KUFFOUR AND NANA AKUFFO ADDO, THE REAL VENDORS OF THE DRILLSHIP
NII ADDY 12 years ago

STORY UNFOLDING REALLY BREAKS THE HEART.MY PRAYER IS THE SOLE COMMISSIONER SHOULD HAVE THE KING SOLOMON'S WISDOM TO BRING TO LIGHT WHAT IS IN THE DARKNESS.GHANAIANS ARE WAITING IMPATIENTLY.

STORY UNFOLDING REALLY BREAKS THE HEART.MY PRAYER IS THE SOLE COMMISSIONER SHOULD HAVE THE KING SOLOMON'S WISDOM TO BRING TO LIGHT WHAT IS IN THE DARKNESS.GHANAIANS ARE WAITING IMPATIENTLY.
capt ninepence 12 years ago

Ghanaians heard the way kt Hammond was bullying kwakye ofosu that he was a small boy and what not. what the hell was he trying to say? this is no time for him to say somebody is a small boy. the deputy minister is a Ghanaian ...
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Ghanaians heard the way kt Hammond was bullying kwakye ofosu that he was a small boy and what not. what the hell was he trying to say? this is no time for him to say somebody is a small boy. the deputy minister is a Ghanaian and has the right to find out where our money had been taken to.
Say the TRUTH 12 years ago

As a Minister of Information he should be CRITICAALY MINDED and BE AWARE OF THE DETAILED DOCUMENTS NOW IN THE PUBLIC DOMAIN AS WELL AS THE SOLE COMMISSSIONER ON THE TRUTH OF THE CASE SO WHEN HE IS TALKING ABOUT IT WILL NOT MA ...
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As a Minister of Information he should be CRITICAALY MINDED and BE AWARE OF THE DETAILED DOCUMENTS NOW IN THE PUBLIC DOMAIN AS WELL AS THE SOLE COMMISSSIONER ON THE TRUTH OF THE CASE SO WHEN HE IS TALKING ABOUT IT WILL NOT MAKE HIMSELF LOOK STUPID LATER ON AS YOU ALL ALL BECOME FOR NOT BEEN SMART TO ACCEPT THE REALITY OIF THE CASE THAT THIS A SMOKE WITHOUT FIRE!!!!

SHAKAARA 12 years ago

ONE THING ABOUT OUR COUNTRY IS THAT RUTH NEVER COME OUT IN ANY SITUATION.
THE TRUTH REGARDING THE SALE OF THE DRILL SHIP MAY NEVER COME OUT

ONE THING ABOUT OUR COUNTRY IS THAT RUTH NEVER COME OUT IN ANY SITUATION.
THE TRUTH REGARDING THE SALE OF THE DRILL SHIP MAY NEVER COME OUT

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Drill ship deal still stinks; $3.5m not traceable

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