December 20, 2013

Nii Kwartei Titus-Glover, Tema East Member of Parliament of the opposition New Patriotic Party has thrown his weight behind the Executive Director of the Centre for Freedom and Accuracy, Mr. Andrew Awuni, the initiator of a law-suit against the sale of SSNIT\’s 90% stake in Merchant Bank to Fortiz Private Equity Fund Limited.

Mr. Awuni, last week, initiated legal action against the Bank of Ghana (BOG) over the sale of Merchant Bank to Fortiz Private Equity Fund Limited. He described the sale agreement as shrouded in secrecy and therefore sought for an injunction to prevent the parties from taking further action to complete the sale from the court of law.

But the Commercial Division of the High court, presided by Mrs. Justice Sophia Rosetta Benasko Essah, dismissed the law suit on Wednesday and ruled that he lacked the capacity to challenge the deal.

However, Hon. Titus-Glover has hinted that he will confer with his lawyers and ensure that the sale of SSNIT\’s 90% stake is averted.

According to him, it is not in the interest of SSNIT’s clients to dispose of its stake in the deal. He therefore called on the nation to lead a crusade against the sale of the Bank to Fortiz since, to him, the deal smacks of illegal practices.

He further implored Chief Justice, Theodora Georgina Wood to “find a way to speak to her Judges because they are not helping the cause of the ordinary Ghanaian.”