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– The Agyapa Accord has been criticized by anti-corruption crusaders who want it to end.
– Special prosecutor said that the agreement was designed to facilitate illicit financial flows and money laundering.
– Ken Ofori-Atta is expected to answer a litany of questions about the controversial deal.
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Former attorney general and justice minister Gloria Akuffo never opposed Agyapa’s controversial royalty deal, Godfred Dame said.
The candidate for Attorney General and Minister of Justice made the disclosure on Friday, February 12, 2021, when he appeared before the Appointments Committee of Parliament.
Photo credit: YEN.com.gh
Source: UGC
“I indicate for the record that the former Attorney General [Gloria Akuffo] he never opposed the transaction and that is clear from all the documents available to me, ”Dame said.
The Attorney General’s office in 2020 stated that the deal did not benefit Ghana. The office added that it was unclear what benefits “will come to the Republic of Ghana and the fund in addition to the one-time payment,” considering that the agreement runs in perpetuity with strict liabilities from the fund throughout its useful life.
Databank Withdraws From Agyapa “Bid-rigging” Deal As Parliament Examines Ken Ofori-Atta; Angry CSOsMeanwhile, the investment bank, Databank, withdrew from the deal as transaction advisers.
The bank’s withdrawal from the deal comes as Finance Minister-designate Ken Ofori-Atta is appearing before Parliament’s Appointments Committee.
Former special counsel Martin Amidu conducted an anti-corruption and corruption risk assessment report on the deal in 2020.
According to the report, there was a reasonable suspicion of “bid rigging and corruption”, as well as the likelihood of “illicit financial flows and money laundering” when selecting the adviser (s) for the transaction.
Amidu resigned as the country’s special prosecutor following the report citing threats against his life and a series of traumatic experiences.
Databank Group CEO Kojo Addae-Mensah said the turmoil generated greatly compromised the company’s ability to execute such a novel and market-sensitive transaction, hence the recall.
The withdrawal has been met with fierce suspicion by civil society organizations who noted that time is pointing to anticipate the questions that will be asked about the deal during Ofori-Atta’s vetting.
Money influences the selection of the members of the State Council under Akufo-Addo – Dr. Nyaho-Tamakloe“So it leaves one wondering if this is not an attempt to pre-empt the discussion of the matter during the background check of the appointed ministers in Parliament next week,” said the group’s leader, Dr. Steve Manteaw.
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