The National Democratic Congress (NDC) has described as “naked thievery and brazen abuse of the public purse”, a USD$12 million spent on the botched “Agyapa” Royalties deal.
The party says the amount which was spent at the time the nation was battling the Covid-19 pandemic with its accompanying effects on the citizens, shows how insensitive the NPP government is.
During its ‘Moment of Truth’ series at the party’s headquarters Monday, February 19, 2024, National Communications Officer of the NDC, Sammy Gyamfi, indicated that the party is appalled that government could squander such amount at a time the nation was in distress.
“We in the NDC are completely appalled by the decision of the corrupt Akufo-Addo/Bawumia NPP government, to spend this colossal amount of money on the “Agyapa” scam, which never saw the light of day. It is unconscionable and in fact, the height of cruelty, that the government engaged in this naked thievery and brazen abuse of the public purse, at a time our beloved nation was battling the COVID-19 pandemic and Ghanaians were already reeling under excruciating hardships. This is very sad and disheartening,” he read out.
The revelation about the money was made at the Public Accounts Committee (PAC) hearing on the report of the Auditor-General on the accounts of the Minerals Income Investment Fund (MIIF) for the period ended 31 December 2022.
Chief Executive Officer of the MIIF, Edward Nana Yaw Koranteng, made the disclosure when he appeared before the PAC, revealing that an amount of USD$12 million was spent on the deal.
The CEO had also indicated that the sum was spent on the setting up of the “Agyapa” Royalties vehicle, the payment of consultancy fees, the rental of office space and the processes leading to the Initial Public Offering towards the listing of “Agyapa” Royalties on the London Stock Exchange.
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