March 28, 2024 9:47 pm

Return Agyapa deal to Parliament – Akufo-Addo orders Ofori-Atta

President Addo Dankwa Akufo-Addo has instructed the Finance Minister to return the Agyapa Mineral Royalties Limited arrangement to Parliament for reconsideration.

This follows a communication from the Office of the Special Prosecutor of its findings of a corruption risk assessment conducted into the transaction.

According to Martin Amidu, his office submitted findings from the assessment to the Presidency and Finance Ministry as far back as October 16, after completing the exercise a day earlier.

President Akufo-Addo has prioritised allocations, relationship and investments involved as areas Parliament must scrutinise.

He is expected to make a public pronouncement on the development and the way forward for the Special Purpose Vehicle (SPV).

Corruption Risk Assessment

In August this year, the OSP, as part of its mandate, requested from the Finance Ministry documents regarding the SPV which help the country secure about $1 billion to finance infrastructural projects.

This followed criticisms from Civil Society Organisation (CSOs) about red flags in the transaction.

The Minority in Parliament has described the deal as one shrouded in secrecy, adding its nature had the propensity to breed corruption, a position government has vehemently rejected.

Even though the agreement is said to be in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), it was passed without support from the Minority in Parliament.

Read also: Former PPA Boss awarded contract to his disqualified company – CHRAJ

Meanwhile, an Initial Public Offer (IPO) which was put on hold remains suspended.

It was suspended for the disclosure of the findings of the OSP’s corruption risk analysis meant to identify potential weaknesses which may present opportunities for corruption to occur in the arrangement.

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