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AG denies knowledge of $2.25bn bond

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More revelations are beginning to come to the open in $2.25 billion bond issued by the Ministry of Finance and Economic Development recently, as the Attorney General, Gloria Akuffo, has denied knowing anything about the bond issue.

The AG was reacting to allegations of possible conflict of interest made by the Minority in Parliament suggesting that she might have been compromised in the bond issuance.

According to her, she was not aware of the bond, though there are suggestions that a deal of this nature requires the legal input from the Attorney General’s office.

The AG stated this while speaking on Eyewitness News, adding that she heard the news of the bond for the first time from a press conference held by the minority in Tuesday.

“I don’t know whether as a matter of fact these things have happened in what form or on what date which should inform any legal position on my part.

It would be recalled that the Minority had alleged that a non-executive director on the board of Investment Firm, Franklin Templeton, who purchased 95 percent of the $2.25 billion bond, is also the Chairman of the Enterprise Group, which has links to the Attorney-General and the Finance Minister, Ken Ofori-Atta.

Speaking further, Gloria Akuffo explained that she was never a director of Enterprise Group but only served as a non-executive Director for Enterprise Life, which is a sub-sect of Enterprise Group.

“There is a difference between the governing body of Enterprise Group and Enterprise life… I am not aware and I have not been part of any transaction involving the entity which was the subject matter of the [Minority] press conference.”

She also revealed that she resigned as a member of the board on April 1, 2017, where she also chaired the Human Resource Group Committee.

According to her, the Enterprise Group holds a number of entities which are limited liability companies on their own. These, she said, include Enterprise life, Enterprise trustees, Enterprise Funeral Services, Enterprise properties and Enterprise Insurance.

“The governance arrangement is that, there is a group board separate, and apart from these other companies, one of which I served on as a non-executive director, and I am saying that as far as I am aware, Enterprise Life, on which I served, was never involved in the transaction which is the subject-matter of debate now. I am also not aware that Enterprise Group as an entity was involved in this transaction.”


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Contaminated Fuel: BOST fights back, says Minority call for investigation baseless, unfounded

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The Bulk Oil Storage and Transportation Limited, BOST, may have found its voice at last over the sale of contaminated petroleum product to a private company, as it has lashed out at the Minority in Parliament for calling for a thorough investigation of the transaction.

It Managing Director, Alfred Boateng allegedly sold the five million litres of fuel to the company in a way that is not transparent.

BOST, however said the controversy over the sale of the contaminated fuel is just an attempt to distract its current management from the financial rot left behind by the former Managing Director of the company, Kingsley Kwame Awuah-Darko.

According to BOST, Kwame Awuah-Darko plunged it into about $300 million debt.

The Minority in Parliament, while calling for a thorough investigation of the current MD, also disclosed that the circumstances under which 5 million litres of contaminated fuel was dubiously sold has led to a GHc14.25 million loss to the state.

BOST, in a statement, however insisted that these issues were coming to light to frustrate the attempts by the current Managing Director to address the financial rot at the company.

“The Minority’s assertion that the MD of BOST should be interdicted is baseless and unfounded. It is a political plan to divert the new MD’s attention from dealing with the rot of his predecessor, Mr. Kingsley Kwame Awuah-Darko, which has left BOST with a debt close to $300,000,000″, the statement read in part.

Continuing, BOST noted that the rot included the diversion of GHc 40.5 million of company funds to a fictitious account currently under investigation.

It also listed the award of an overpriced contract of $39 million to construct the BOST head office complex and the award of another overpriced contract of $19 million to construct a pipeline from APD to Akosombo, both of which have been suspended.


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Contaminated fuel not yet in the market, NPA assures

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The National Petroleum Authority, NPA, has assured Ghanaians that the contaminated fuel the Bulk Oil Storage and Transportation Limited (BOST) sold to Movenpiina and subsequently to Zup Oil has not hit the market yet.

According to the Acting Chief Executive Officer of the NPA, Alhassan Tampuli, who gave the assurance, the Authority has no reason to believe that some of the contaminated products have ended up in any of the retail outlets.

“Our investigations and preliminary report also indicates that, we don’t have any reason to believe that anything has been put into the market. We are still monitoring.”

It would be recalled that the Minority caucus in Parliament had called for a thorough investigation into the sale of the contaminated fuel and an immediate withdrawal of the product from the market.

However, the NPA boss, while speaking on Okay FM, said: “As at now, we do not have any reason to believe that some of the contaminated products have ended up in any retail outlet. We want to send that message clear to the general public so that the fear and panic out there will be completely debunked.”

On the silence from the NPA on the matter, Tampuli said, the NPA as the regulator is doing its investigation before addressing Ghanaians on the issue with BOST, insisting that his organisation would be the last to speak inspite all the information already available in the public domain.

Speaking further, the NPA boss said with the investigation done so far, it was established that BOST Managing Director, Alfred Boateng sold 5 million litres of contaminated petroleum products to a private company called Movenpinaa.

He however maintained that the 5 million litres of product is still in the custody of BOST except for the 18 trucks that have been moved out; revealing that out of the 18 trucks, 8 of the trucks are still with BOST PD Terminal.

“According to our tracking machines, 10 trucks have moved to a location operated by Zup Oil. We went to Zup Oil premises and we have seen what they have and we have taken a sample and we are yet to confirm the sample. We are also yet to confirm the volumes of products they have in order to ascertain whether or not some of the products have ended up as they are being alleged in the petroleum stations,” he disclosed.


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Abronye DC threatens to expose Lord Commey

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The Brong Ahafo Regional Youth Organiser of the ruling New Patriotic Party, NPP, Kwame Baffoe, also known as Abronye DC, has threatened to expose the Director of Operations at the presidency, Lord Commey.

According to the controversial politician, he will give a detailed expose on Lord Commey if he fails to call his boys to order.

The Brong Ahafo youth organizer was reacting to a threat by a member of the Greater Accra Regional Organizers of the NPP, Kwabena Amoako, to expose Abronye DC if he does not stop drawing Lord Commey into his shady deals.

However, Abronye DC, in his response, demanded a retraction and apology of the comment by Kwabena Amoako, including claims that he was not appointed by the Chief of Staff, Frema Osei-Opare as a member of the task force to retrieve stolen state vehicles.

“I am giving him by the close of the day to either retract the statement or I will expose him and Lord Commey. I will start it right from your station”, he said in an interview on Okay FM.

He also clarified that he never said he was working under the authority of the Chief Staff, insisting that he embarked on his vehicle seizure backed by the provisions of Article 41 of the 1992 constitution as a citizen vigilante.

“I have not received any letter anyway but I said I based my work on Article 41 clause F as a citizen vigilante. It is based on my work that the Chief of Staff established the taskforce. I don’t know that Kwabena Amoako but I am daring him to prove those issues or I will blow his cover to affect Lord Commey since he has taken up the job as spokesperson for him. I don’t need to speak on radio or go about seizing cars to be popular. stated.

“People will hear of us tomorrow. If he goes to receive small money and is doing ‘boy boy’ work I will not engage in the kind of things he is doing. I do not beg to eat. I am daring him to open up or I will blow his cover and that of Lord Commey. I will strip him naked and it will affect Lord Commey if he fails to come out and expose me. I will speak my mind because he is rather forcing me to talk regardless of what will happen to the party because he does not know me. No party official can stop me. They see GHS200 and think everything is ok for them”, he fumed.


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