Special Prosecutor completes corruption risk assessment of Agyapa deal

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Special Prosecutor completes corruption risk assessment of Agyapa deal

The Special Prosecutor, Martin Amidu has announced a conclusion of his office’s corruption risk assessment into the controversial Agyapa Royalties deal.

In a press release issued by his office, Mr. Amidu said he had conveyed the conclusions and observations to the President, Nana Addo Dankwa Akufo-Addo and Finance Minister, Ken Ofori-Atta some two weeks ago in what he says was an action taken out of courtesy before making the announcement public.

After two weeks of this action, the Special Prosecutor said he deemed it important to inform the public about the conclusion of his constitutional mandate.

“The analysis of the risk of corruption and anti-corruption assessment was completed and signed by the Special Prosecutor on 15th October 2020. The Special Prosecutor in a letter with reference number OSP/SCR/20/12/20 dated 16th October 2020 conveyed the conclusions and observations of the anti-corruption assessment to H. E. the President and the Hon. Minister of Finance as a matter of courtesy before informing the public.”

“Two weeks is more than too long for this Office to continue withholding the announcement
of the completion of its sixty-four (64) page report to the public. It is important that this Office has the freedom to discharge its anti-corruption mandate and keep the public informed. I have, therefore, decided to bring the facts of the conclusion of the anti-corruption assessment of the Agyapa Royalties Transactions by this Office to the attention of the public and to avoid the continued speculations on this matter,” the Special Prosecutor added in the press release.

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Citi News is however yet to sight the full 64-page report.

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The controversial deal was suspended by the government last month after intense public and CSO complaints of suspected corruption.

The Minister for Finance in a notice to Parliament said the decision to suspend it was to enable the Special Prosecutor to conclude his corruption risk assessment into the deal.

Martin Amidu earlier blamed the Finance Ministry for the delay in completing his work on the deal.

Mr. Amidu wrote to the Finance Ministry asking “for them to give us the full payments made to the Ministry of Finance to these transaction advisors since the contract begun in 2018 and also to the international service providers.”

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ABOUT THE DEAL

The Agyapa deal is a by-product of the Minerals Income Investment Fund Act.

In 2018, Parliament passed the Act which establishes the Fund to manage the equity interests of Ghana in mining companies and receive royalties on behalf of the government.

The purpose of the fund is to manage and invest these royalties and revenue from equities for higher returns for the benefit of the country.

The government then, through the Minerals Income Investment Fund (MIIF), set up Agyapa Royalties Limited to monetize Ghana’s gold royalties.

This was after Parliament on August 14, 2020, approved the Agyapa Mineral Royalty Limited agreement with the Government of Ghana despite the walkout by the Minority.

The company plans to raise between $500 million and $750 million for the government on the Ghana and London Stock Exchanges to invest in developmental projects.

The deal has generated public discourse with some Civil Society Organisations vowing to reject the agreement claiming it is a total rip-off.

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The post Special Prosecutor completes corruption risk assessment of Agyapa deal appeared first on Citinewsroom – Comprehensive News in Ghana.

SOURCE: citinewsroom.com

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