Gov’t unfazed by Minority’s petition over $2.2 bn bond

The government has said it is not perturbed by the Minority petition to the Securities and Exchange Commission of the United States to investigate its $2.25 billion bond issued this year.

It says the petition among other actions is only a diversionary tactic meant to sway Ghanaians from seeing the positive work the government is doing.

A deputy Minister for information, Kojo Oppong Nkrumah said the government remains focused on fulfilling its promises to Ghanaians and will not debate the Minority in parliament or the opposition National Democratic Congress (NDC) on the issue,The government in April this year raised $2.25 billion from four bonds including a 7 and 15-year bond, at a rate of 19.75%.

The bond which was open to resident and non-resident investors raised disquiet among members of the opposition NDC.

The Minority raised issues of possible conflict of interest following the purchase of 95% of the bonds by Mr. Trefgarne who is a Director of Franklin Templeton and a Board Chairman of Enterprise Group.

The government had defended the bonds issue explaining that it did not flout any regulation.

But the minority appears to have taken a keen interest in the matter and is using any means available to it to get challenge the issuance of the bond.

The Ashanti Regional Youth Organiser of the National Democratic Congress (NDC), Yaw Brogya Genfi, also recently petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) over the matter, calling for investigations into it.

But Kojo Oppong Nkrumah told citi fm that, “a lot of answers have been provided. We have come to believe that they will consistently keep bringing up this issue even when you provide them answers…. They consistently issue statements about it because they know that when they do, the media will be stopped from following any good news and you’ll be chasing that particular story. We don’t have any problem with them, they can attend to any particular establishment as they ask for any information and those establishments shall provide them with that information that they want.”

“In the meantime, while they do that, we will remain focused on the governance agenda”.