Kojo Oppong Debunks Minority ADB GH¢10m Loan Claim

The Deputy Minister of Information and Member of Parliament for Ofoase-Ayirebi, Hon. Kojo Oppong Nkrumah has rubbished claims by the Minority on the alleged approval of a GHc10,459,500 million loan from the Agricultural Development Bank (ADB) to the MacDan Shipping Company by the Finance Minister, Ken Ofori Atta.

He explained that the Minority leader, Hon. Haruna Iddrisu made a mischief by only reading the paragraph two of a response letter the Finance Minister wrote to ADB which states his approval to the transaction.

According to him the Finance Minister further stated in paragraph three of the letter that they (ADB) should seek ratification after the board has been constituted.

“The bank did its normal findings and decided that its client, Mac Dan Shipping, was qualified to get a credit facility to do its business. They wrote a letter on June 6, 2017 to significant shareholders of the bank because their board had not been constituted, not necessarily because somebody had declined to constitute the board but because the shareholders were having conversation about who was majority still, because there was an attempt to take some of the shares from government and the other shareholders were saying that they were now majority”, he added.

The Deputy Minister of Information made this statement during an interview on an Accra based radio station.

The Minority Leader, Haruna Iddrisu, in a press briefing on September 5, said the action of the Finance Minister is a breach of the procurement processes and rules since most of the boards and Council of State institutions have not been constituted, including the ADB Board.

He viewed the directive from government as not being in conformity to the laws of the country.

Source: Emmanuel Yeboah Britwum/The Publisher Newspaper