AG denies knowledge of $2.25bn bond

Gloria Akuffo

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.”


Read Latest: Ghana News