The Finance Minister, Ken Ofori-Atta, has denied he contravened best practices in approving a credit facility of GHc10,459,500 from the Agricultural Development Bank (adb).
His denial comes after accusations from the Minority in Parliament that he [Ken Ofori-Atta] usurped the authority and functions of the Bank and its Board of Directors in approving the facility
The Minority Leader, Haruna Iddrisu, at a press conference in Parliament earlier yesterday [Tuesday], said the Minister wrongfully granted the facility to McDan Shipping Company.While blaming President AKufo-Addo for failing to constitute the requisite governing boards, including that of adb, to oversee such transactions, it said Ken Ofori-Atta’s action was to “reward the political cronies.”
“This is to enable the company [McDan] to undertake its business operations, and in particular, to execute a supply contract awarded by the Ghana Cocoa Board,” Haruna Iddrisu stated.
“The minister usurped the authority and functions of the Bank and its Board of Directors, which has curiously not been constituted, so we are concerned. So where are the board of directors of the major financial institutions of our country?,” he asked.
But speaking briefly on the allegations to Citi News, Ken Ofori Atta said it was within the purview of the credit committee of the bank to consider his actions right or wrong.
He however said he was certain that he did the right thing.