June 2, 2017

The Minister of Finance, Ken Ofori- Atta is expected to appear before Ghana`s law makers within a week to provide the house with detail information surrounding the recent issuance of a Two Billion, Two Hundred and Fifty Million Dollar Bond.

The move is at the instance of the Minority leader Hon Haruna Iddrisu with guidance by Order 49 of the Standing Orders who tabled a Half Hour Motion as on the Floor of Parliament asking the House to prevail on the Minister of Finance to provide detailed information on the Bond the lawmakers.

The Minority is demanding the full complement of documentation related to the issuance of the Bond, including the participants, the utilization of the proceeds and the currency in which the Bond was settled.

The motion was seconded by the Majority Leader Hon Osei-Kyei-Mensa-Bonsu for the Finance Minister to appear before the House to respond to the demands of the Minority Leader which he said was in order since parliament is a representative of the people.

The Public Financial Management Act (PFMA), 2016 (Act 921) and article 181 of the 1992 Constitution enjoins the Minister responsible for Finance to submit same to Parliament for approval.

The Speaker of Parliament Rt Hon Prof Aaron Michael Oquaye gave the order accordingly that the Finance Minister to submit such transactions before the house for scrutiny and approval.

The Minority during a subsequent news conference addressed by its Ranking Member on the Finance Committee, Hon Cassiel Ato Forson explained that the circumstances under which the Bond was issued were not transparent hence the decision to invite the Minister to the House, According to him the Minister`s decision has caused financial loss to the nation.

Christian Kpesese/ ghanamps.com