Business News of Thu, 8 Jun 20177

Bond issue not illicit activity, provide names – MP demands

The Member of Parliament for Bolgatanga Central, Isaac Adongo insists that government provides the names of those who subscribed to the $2.25 billion controversial bond to prove its innocence in the conflict of interest allegations.

Even though the finance minister was in parliament Wednesday to furnish the house with the details of the bond issue and to clarify the controversy of alleged conflict of interest, the minority seems unconvinced, hence their demand for the names of the subscribers.

Prior to the minister’s visit to parliament, the minority asked for certain details including the issue certificate, the issue date, the denomination of the issue and the names of subscribers. The minister however could not furnish the house with the names of the subscribers because he said that information is classified.

It is on the back of that information being classified that the MP disagreed and told TV3 the sale of bonds is not an illicit activity.

He maintained that there is absolutely nothing wrong with making the names of those who bought the $2.25 billion bond public.

He also said the minority is not satisfied with what the minister presented in parliament yesterday because the minister only gave them documents that they could easily get from the websites of the Securities and Exchange Commission and the Bank of Ghana.

He however expressed satisfaction over the response of the United States Securities and Exchange Commission (SEC) to a petition the minority sent to the body.

The United States Securities and Exchange Commission (SEC) has appointed a case manager for the petition filed by the Minority over government’s recent $2.25 billion bond issue.

Source: 3news.com

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