Head of Corporate Affairs of the Bank, Richard Osei Anane, said a contract exists, but refused to disclose how much is involved.

The Bank has come under the spotlight after Parliament’s Public Accounts Committee (PAC) questioned an alleged GHc2.25 million paid to some showbiz personalities.

Reports suggest dancehall artiste Shatta Wale was paid GHc2 million, while actor Agya Koo was reported paid GHc250,000 to promote made in Ghana products.

READ ALSO: PAC questions Exim Bank’s GHc2 million payment to Shatta Wale, others as brand ambassadors

Shatta Wale and Agya Koo
Shatta Wale and Agya Koo

However, reacting to the reports, Mr. Osei Anane said a contract exists with the two celebrities, but noted that the amounts being quoted are inaccurate.

In a statement, he said 15% of the actual worth of the contracts has already been paid to the personalities.

"In brief, Indeed we have signed contracts with the two artists who are renowned in their own field but they have not even started their roles,” the Exim Bank Head of Corporate Affairs told Accra-based Joy FM.

“For the fact that it is a contractual agreement between two parties, we cannot disclose any content.”

"We have signed a contract with the two artists, we have contract obligations, we cannot disclose the amount but all that we want to say is that the amount quoted is not correct. I can't disclose it because of contractual obligations,” he added.