$2.25bn saga: CHRAJ’s findings vindicate us – Minority

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The minority in parliament has said the findings of the Commission on Human Rights and Administrative Justice (CHRAJ) on the $2.25 billion agrees largely with their position that the issuance of the bond did not follow due process.

The commission’s findings cleared the Minister of Finance (MoF), Ken Offori-Atta of allegations conflict of interest made against him by citizen, Mr Yaw Brogya Genfi.

“On the basis of the evidence available to the Commission, it has come to the conclusion and therefore holds that the allegations by the complainant that the respondent has contravened Article 284 of the 1992 Constitution by putting himself in a conflict of interest situation in relation to the issuance of the 5-year, 7-year, 10-year and 15-year bonds, have not been substantiated,” CHRAJ stated.

The commission however found breaches of the rules on the issuance of bonds. On the basis of this, CHRAJ gave wide-ranging directives in the exercise of its powers under Article 287 (2) of the Constitution.

The commission directed, among other things, that the minister ensures that all processes in the issuance of bonds by MoF and the Bank of Ghana (BOG) are complied with.

Reacting to the release of the report, the minority in a statement dated Friday December 29 said: “CHRAJ in its decision agrees largely with our stated position from the very beginning that the bond issuance did not follow due process. CHRAJ in its summary of key findings noted several breaches of statutory regulations governing the issuance of bonds and cited the Minister for conduct bordering on criminality. It is the considered position of the Minority that the adverse findings contained in the decision of the CHRAJ vindicate our position that the US$ 2.25 Billion bond issuance was fraught with irregularities and did not comply with Ghanaian law.”

The statement said the minority would provide further details of its position on the report in the coming days.

Below is the full statement:

MINORITY STATEMENT ON DAMNING FINDINGS AGAINST FINANCE MINISTER BY CHRAJ IN US$ 2.25 MILLION BOND INVESTIGATION

For immediate release

The Minority Caucus in Parliament has become aware of findings contained in the decision of the Commission on Human Rights and Administrative Justice (CHRAJ) on a complaint filed against the Finance Minister over the infamous US$ 2.25 billion bond in March this year.

Contrary to some publications on a number of online portals to the effect that the Finance Minister has been cleared of wrongdoing, CHRAJ in its decision agrees largely with our stated position from the very beginning that the bond issuance did not follow due process.

CHRAJ in its summary of key findings noted several breaches of statutory regulations governing the issuance of bonds and cited the Minister for conduct bordering on criminality.

It is the considered position of the Minority that the adverse findings contained in the decision of the CHRAJ vindicate our position that the US$ 2.25 Billion bond issuance was fraught with irregularities and did not comply with Ghanaian law.

We will engage the media next week to provide details of our position on the outcome of the investigations and consequential matters.

We wish Ghanaians a happy new year.

Haruna Iddrisu (MP)

Minority Leader

29th December, 2017

Accra

By: Yahaya Masahudu, radiotamale.com