I don’t have details on $2.25 bn bond – AG tells Lawyer

The Attorney General , Gloria Akuffo has confirmed receipt of a letter by Private Legal Practitioner, Victor Adawudu demanding more

information on the controversial $ 2. 25 billion domestic bond which was issued in April.

She has however indicated that details on the said bond the lawyer is seeking to retrieve, is unavailable to her.

“I acknowledge receipt of your letter bearing reference number LL/17/26 and dated 4th May , 2017 on the above subject matter. Please be informed that the information being sought per your letter is not available to me and I am therefore unable to respond to the questions posed therein.”

What the lawyer requested for

In a letter addressed to the Attorney General and copied to the Ministry of Finance, Mr. Adawudu, who also enclosed a processing fee of GHc 1,000, said the information he was seeking was aimed at addressing several concerns voiced on the matter.

 

“I am exercising my legal and constitutional right and the Attorney General is the principal legal advisor to the government. If you look at the Right to Information Bill, it is the Minister of Justice and Attorney General who is responsible if information is wanted,” he said in a Citi News interview.

“If you look at the information I am seeking, it is a very extensive question and I ask that data should also be added,” he said in the letter.

Mr. Adawudu noted that most of the information on the bond issue was circulating in the media but could not necessarily be taken to be gospel  despite the “rebuttable presumption that it is authentic.”

“The information that we are getting cannot just be said to be the authentic information that is why I am asking for the authentic information from the government.”

Background

Concerns were raised about the transparency of the $2.25 billion bond with some, noting that the apparent secrecy over the deal fueled the allegations of conflict of interest against the Finance Minister, Ken Ofori Atta.

Finance Minister, Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta

Chief Executive Officer of Dalex Finance, Ken Thompson remarked to Citi News that in times past, when bonds have been issued, there have been road shows, announcements or visits to Parliament “but this seems to have happened rather quickly

The Minority in its conflict of interest allegations, said 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.

The Minority eventually called for a full-scale parliamentary probe into the bond issue. The Ashanti Regional Youth Organiser of the National Democratic Congress (NDC), Yaw Brogya Genfi also petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the $ 2.25 billion bond.

Additional Info

  • Origin: citifm/GhAgent