US investigates $2.25bn bond

pulse-ghana admin 11:19 - 08 June 2017

___6804122___https:______static.pulse.com.gh___webservice___escenic___binary___6804122___2017___6___8___13___file6va80kc9zmtqw9xk92c

Security and Exchange Commission of the United States are investigation the release of the Finance Minister's bond for any breach

A case manager has been appointed by the United States Securities and Exchange Commission (SEC) over the minority’s petition concerning the $2.25 billion bond raised by the Finance Minister.

Following the minorities dissatisfaction over concerns raised about the bond, Samuel Okudzeto-Ablakwa told journalists that Jennifer Carr, who is the case manager has professed his relentless pursuit to uncovering the truth about the issue.

Finance Minister, Ken Ofori-Atta, has come under a lot of criticisms by the minority in parliament when 95% of the bond released in April by US-based investment firm, Franklin Templeton.

The NDC claims therefore has accused the minister of breaching conflict of interest.

A company purportedly aligned with the private interests of Ken Ofori-Atta, Enterprise Group also happen to have a very close relation with Franklin Templeton.

The National Democratic Congress MPs say one Trevor Trefgarne who was on the Board of Franklin Templeton influenced the direction of the bond issuance because of his connection with Mr. Ofori-Atta.Mr Trefgarne is the Board Chairman of the Enterprise Group where Mr Ofori-Atta was once a director.

The Minority subsequently petitioned the US Securities and Exchange Commission to investigate the matter.

The US Securities would be receiving further clarifications from the government to come to the truth of the issue. Parliament on Wednesday heard the Finance Minister on the concerns raised by the opposition but the minority was still not pleased.