The National Democratic Congress has accused the Akufo-Addo of “causing financial loss” to the state over the botched Agyapa Gold Royalties deal.

At a press conference addressed by the party in Accra today, National Communications Officer, Sammy Gyamfi, accused President Akufo-Addo and Vice President Dr. Mahamudu Bawumia of habouring what he describes as “countless skeletons of corruption in their closet”, following recent revelations at the Public Accounts Committee hearings.

It has emerged per disclosures by the Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Edward Nana Yaw Koranteng, that government has already committed some $12 million to the failed Agyapa Gold Royalties arrangement which came under intense public scrutiny sometime in 2020.

Speaking earlier today at the NDC’s ‘Moment of Truth’ press conference, Sammy Gyamfi called out these payments, labeling them as cruel and unconscionable and amounting to corruption and an abuse of the public purse, at the time when the country was still battling the ravages of the Coronavirus pandemic.

The NDC referenced the Corruption Risk Assessment by former Special Prosecutor, Martin Amidu, which established that the processes leading to the approval of the deal, among other things violated the Public Procurement Authority Act, Public Financial Management Act and provisions of the 1992 Constitution.

Based on the above, the NDC concluded that the suspended Agyapa deal was declared null and void by the OSP, hence payments to certain entities are illegal and have no legs to stand on. The party has therefore vowed to retrieve the sum of $12 million should the NDC and John Mahama win the 2024 general elections, and to prosecute current government officials who were involved in making these payments.

In 2020, the government set out to monetize future mineral royalties through the Agyapa Mineral Royalties deal. As part of the arrangement, the Special Purpose Vehicle was to among others list on the London Stock Exchange to trade shares in exchange for future gold and other mineral royalties.

The proposal however faced stiff opposition from a section of Ghanaians, including Civil Society over concerns bordering on lack of transparency.

Source: Ghana/