Finance Minister did not benefit from bond deals – Michael Boadi

The Corporate Affairs Manager of the Ghana Integrity Initiative (GII), Michael Boadi, has backed the findings of the Commission on Human Rights and Administrative Justice (CHRAJ) on the allegations leveled against the Finance Minister regarding conflict of interest in the issuance of the US$ 2.5 billion bond.

According to Mr. Boadi, the evidence provided by Mr. Brogya Genfi,

Read full articlea citizen who made the allegations, did not suggest that the Finance Minister enjoyed any benefits from the bond deals.

Mr. Boadi argued that most investigations are usually characterized by prejudices, which defeat the purpose of such investigations.

“There are two possibilities; it is either the person is guilty or not guilty and in this case, the evidence made available by Mr. Brogya Genfi did not suggest that the individual Is guilty. It is stated in plain language that where personal interests or the private interest conflicts with his public office. The evidence available does not suggest that the Finance Minister personally benefitted from the bonds”, he stated.

He added that the recommendations of CHRAJ should be considered in order to ensure transparency and integrity in terms of bond issuance.

“If the recommendations are adhered to and implemented, a lot will improve in the way bond is issued in this country. There are good recommendations. Brogya Genfi may not be happy but at least the fact that there are recommendations to improve the transparency and Integrity of bond issuance were made is a fantastic idea”, he suggested.

Background

A member of the National Democratic Congress (NDC), Brogya Genfi, petitioned CHRAJ in April to investigate the Finance Minister, Ken Ofori-Atta’s position in the issuance of the US$ 2.5 billion bond.

In its 140-page report, CHRAJ said although it found no concrete evidence on conflict of interest against the Minister, he [Ken Ofori-Atta] breached several procedures.

Minority debunks media report

The Minority in Parliament dismissed reports in a section of the Ghanaian media that CHRAJ has exonerated Finance Minister Ken Ofori-Atta from any wrong doing in the issuance of the US$ 2.5 billion bond.

The Minority claims that CHRAJ’s decision brings to bear several breaches of statutory regulations governing the issuance of $2.25 billion bond and cited the Minister for misconduct bordering on criminality.

This, according to the Minority Leader, Haruna Iddrisu, vindicates the position of the minority in Parliament.