Finance Minister Ken Ofori-Atta has been accused of breaching several statutory regulations in the issuance of the $2.25 billion bond.
A report by the Commission on Human Rights and Administrative Justice (CHRAJ) cleared Mr. Ofori-Atta of the allegations of conflict of interest in the issuance of the bond, but found him guilty of some infractions in the process.
CHRAJ noted that the Finance Minister “is either a director, former director or shareholder, or beneficial owner, of several companies whose objects relate to the securities market sector”.
Another observation by CHRAJ indicated that he “has business partners and associates related to the securities industry” which is likely to conflict with the interests of the state in relation to the securities market such as the issuance of bonds.
The Minority believe the above breaches, as outlined by CHRAJ, are enough to see the Finance Minister booted out of office.
Speaking at a news conference, Minority Leader Haruna Iddrisu said President Akufo-Addo must sack the minister or they will initiate processes to have him removed from his position through a motion of censure per Article 82 of the constitution.
“We serve notice that in event that the President, Nana Akufo-Addo does not exercise appropriate judgement, we will initiate an action of censorship against the Minister. We in the minority feel strongly vindicated by the [CRHAJ] report… All of us must uphold the laws of Ghana including the Minister for Finance,” he said.
Meanwhile, the New Patriotic Party MP for Bantama, Daniel Okyem Aboagye, has defended the Finance Minister, insisting the NDC only want to use the situation to score partisan points.
According to him, the CHRAJ report rather presents an opportunity to improve the laws and rules on bond issuance.