The opposition National Democratic Congress (NDC) says what has now become commonly known as the “Agyapa deal”, did not only undervalue the country’s mineral royalties, but it was also meant to deny future governments and generations mineral revenues that are critical to the development of the country.
According to the party, its position on the deal has been affirmed by the latest revelation about the colossal expenditure made by the Minerals Income Investment Fund (MIIF) on the botched “Agyapa” Royalties deal.
The party has, therefore, vowed to deal ruthlessly with any person or group of persons who would be found culpable if it wins the next elections to form the next government.
At one of its recent sittings to digest the Auditor-General’s report on Public Boards, Corporations and other Statutory Bodies for the period ended 31 December, 2022, the Public Accounts Committee (PAC) of Parliament revealed a certain weird development.
It would be recalled that there was a consideration of the report of the Auditor-General on the accounts of the Minerals Income Investment Fund (MIIF) for the period ended 31 December 2022.
A revelation made by the Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng, indicated that a colossal amount of USD$12 million was spent on the botched “Agyapa” Royalties deal.
According to the CEO, this huge amount was spent on the setting up of the “Agyapa” Royalties vehicle, the payment of consultancy fees and the rental of office space.
He also mentioned the processes leading to the Initial Public Offer towards the listing of “Agyapa” Royalties on the London Stock Exchange, as some of the key areas on which the money was spent.
NDC’s position on the matter
At the “Moment of Truth” press briefing yesterday, the party stated that it was completely shocked by the aforementioned revelation and the further disclosures by the MIIF’s CEO.
Addressing the media, the National Communications Officer of the party, Lawyer Sammy Gyamfi, emphasised that the revelations supported the NDC’s long held view that the Agyapa deal was meant to short change Ghanaians.
He said, “We are on record to have stated that the “Agyapa” Royalties deal was yet another phoney scheme cooked by the corrupt and nepotistic Akufo-Addo, NPP government, for the sole purpose of appropriating the mineral royalties of the country for themselves in perpetuity”.
This, he stated, explained why the NDC took a principled position and stood with Ghanaians during the intense public debate on the infamous “Agyapa” deal
In further protest, the NDC Minority Caucus in Parliament consequently staged a walkout when the “Agyapa” deal was presented to Parliament for approval.
Special Prosecutor’s advise
Subsequently, the Office of the Special Prosecutor established in its Corruption Risk Assessment Report that the “Agyapa” deal was fraught with procurement rigging and statutory breaches.
Additionally, the report indicated that it was a potential for money laundering and inimical to the interest of the nation. The OSP added that the deal violated the Public Procurement Act, the Public Financial Management Act and the 1992 Constitution.
Sammy Gyamfi indicated that the most startling revelation by the OSP in its Corruption Risk Assessment report on the “Agyapa scam” was the fact that some illegal payments were made to certain entities.
These entities, he alleged, included Databank, a company which was founded and is still owned by the immediate-past Finance Minister, Ken Ofori-Atta.
He added that; “The OSP also found that similar illegal payments were made to Africa Legal Associates, a law firm, belonging to Gabby Otchere Darko, another cousin of President Akufo-Addo.
All these payments were found by the OSP to be unlawful, hence null and void. Yet, till date, these illegal payments which did not give the country any value or benefit have not been retrieved by the state,” Sammy Gyamfi said.
According to Mr Gyamfi, “Sadly but unsurprisingly, the corrupt ruling New Patriotic Party used their numbers to approve the sleazy deal, in spite of the huge public outcry over the lack of value for money that the deal presented”.
NDC to prosecute/retrieve stolen funds
According to the NDC, the “Agyapa scam” clearly amounted to wilfully causing financial loss to the state, therefore the culprits must not go unpunished.
“We in the NDC and all well-meaning Ghanaians, repose huge trust and confidence in H.E John Mahama, to pursue and retrieve for the state, public funds that have been lost to looting schemes such as this ‘Agyapa’ scandal”, he said
