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Special Prosecutor Martin Amidu has launched an investigation into Agyapa’s controversial mineral royalty agreement and has officially written to Parliament requesting information on the agreement.
In a letter dated September 10, 2020 addressed to the Secretary of Parliament, the Special Prosecutor said that his investigation is carried out in compliance with the mandate of his Office to exercise the functions and powers of prevention of corruption.
Joy News parliamentary correspondent Joseph Opoku Gakpo reports that since then the Office of the Secretary of Parliament has begun processes to comply with the directive and has compiled several documents on the transaction that will be sent to the special counsel on Monday, September 11, 2020.
The documents collected include the 2018 Mineral Income Investment Fund Bill; Mineral Income Investment Fund (Amendment) Bill 2020; and the Minerals Royalty Investment Agreement between the Government of Ghana, the Mineral Income Investment Fund, Agyapa Royalties Limited and ARG Royalties Limited in relation to the Monetization of Gold Royalties.
Other documents fulfilled for submission include the Amended and Restated Mineral Royalty Investment Agreement, relationship agreement, assignment agreement, and severance agreement between the government and financial institutions handling the agreement such as Merril Lynch International.
The report of the Parliament’s Finance Committee on the agreement is also part of the documents to be sent to Martin Amidu.
“I write in accordance with Sections 2 (1) c, 29 and 73 of Law 959 and Regulation 31 (1) and (2) of LI 2374 sending the office to exercise the functions and powers of prevention of corruption , to request that you provide this office with the information and all documents related and / or in connection with the approval of the Parliament of the Agyapa Royalty Transaction to help this office execute its object of prevention of corruption ”, says the letter from the Special Prosecutor to Parliament.
“Your timely compliance with this legal notice of request will allow the office to present to the government and the pertinent government agencies any finding and recommendation regarding said transaction or its processes that may be incompatible with the provisions of articles 257 (6) and 268 of the 1992 Constitution and current laws on ownership of all mineral resources in Ghana and fiduciary responsibilities entrusted to the President of Ghana as trustee holding all such mineral resources of the Republic of Ghana in trust for and on behalf of the people of Ghana ” Added the letter.
“This Office will focus on any potential of such a transaction to promote and facilitate the alleged commission of corruption and corruption-related crimes and advise the government accordingly,” said Mr. Amidu.
The letter gave parliament a seven-day ultimatum to present the documents.
“In view of the public interest generated in this matter in the tense electoral environment this year, you will be greatly appreciated if you make the requested information available to the Office and submit the required documents to this office on or before Tuesday, September 17. date, 2020, ”the letter read.
The letter gave parliament a seven-day ultimatum to present the documents. “In view of the public interest generated in this matter in the tense electoral environment this year, it will be highly appreciated if you make the requested information available to the Office and present the required documents in this office on or before Tuesday, September 17, 2020, ”The letter said.
On August 14, 2020, Parliament approved the Agyapa Minerals Royalty Investment Agreement and 4 related documents to enable the monetization of future Ghana gold royalties.
Under the agreement, Agyapa Mineral Royalties Limited has been incorporated in Jersey near the UK to receive and administer royalties from 16 gold mining leases over the next 15 years or so.
In return, the firm will be listed on the London and Ghana stock exchanges later this year and will raise at least $ 500 million for the government to invest in infrastructure, healthcare and education.
The listing will allow individuals to buy a 49% stake in the company. Some 22 civil society organizations, including IMANI Africa and the African Center for Energy Policy, have called for the suspension of the agreement, insisting that it does not benefit the country.
