General News of Mon, 12 Jun 201713

Kwaku Baako exposes minority on controversial $2.25 billion bond

Contrary to information from Government of Ghana (GOG) only five investors showed interest in the controversial $2.25 bond transaction, it now been established that the number was more than what had been in the public domain.

“I can tell you more than forty investors took part in this particular bond transaction. I have the list here from the Central Security Depository of the Ghana Stock Exchange”, Editor-in-chief of the Crusading Guide newspaper, Abdul Kweku Baako revealed.

“I have got it here but I cannot show it anybody. …the list of participants “he added.

The minority National Democratic Congress (NDC) have accused the Finance Minister Ken Ofori-Atta of shielding information regarding the agreement between government and Franklin Templeton Company Limited, an international investor.

The minister on the floor of parliament upon invitation Thursday told Ghanaians the transaction was genuine devoid of personal interest as suspected by the minority Members of Parliament (MPs).

But the minorities MPs insist the minister failed to provide full details of the contract demanding copy of the agreement letter to confirm what they are being told.

But Kwaku Baako advised them saying “go through the appropriate legal regime if you are so much minded and concern to get them. …..apply through appropriate legal regime”

“A Finance Minister cannot come and stand before parliament and do a disclosure on every detail. It has its own implications” he explained.

According to him, the Bank of Ghana guidelines guides the transaction as the issuance documents read by the minister in parliament provide necessary information about the transaction.

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