No NDC Gov’t Will Honour The Terms In Agyapa Royalties Deal-NDC Fires Salvo At NPP

The opposition National Democratic Congress was yesterday organised a crowded press conference on some national issues as well as matters relating to the party’s campaign heading into the December polls.

The press conference took place at the party’s headquarters at Adabraka in Accra is being addressed by the it’s Minority Leader in Parliament, Mr Haruna Iddirisu and the Member of Parliament for Ajumako-Enyan-Esiam Constituency in the Central Region, Cassiel Ato Forson.

Issues addressed in yesterday’s press conference include the controversial Agyapa deal, the arrest of President of the Concerned Small Miners, Micheal Peprah, over the weekend as well as an update on the party’s manifesto which was supposed to have been launched in late August but has since been postponed indefinitely.

Addressing the journalists, Mr Iddirisu
stated no future government of the National Democratic Congress (NDC) will honour the terms and conditions of the controversial Agyapa Royalties deal.

According to Haruna Iddrisu, the deal presents a major offshore transaction without full disclosure of the value of assets of the company and its fiscal measures to Parliament.

The Minority Leader said the assets of the transaction are grossly undervalued without explicit provision for the transaction made in the just read 2020 supplementary budget.

“The Minister of Finance in presenting this deal is in breach and a clear violation of the law and is required to have reported this deal with full disclosure in his 2020 Supplementary budget to Parliament. Our position is that no future NDC government will honor the terms of this Agyapa Royalties Transaction.”

Meanwhile, the Finance Minister Ken Ofori-Atta has asserted there are no hidden beneficiaries in the just-approved Agyapa Royalties transaction by Parliament as suggested by the Minority and some Civil Society groups.

According to him, the Agyapa Royalties transaction was 100 percent owned by Minerals Income Investment Fund (MIIF), an entity that is also solely owned by the government of Ghana prior to its approval in Parliament.

The Government of Ghana through the Minerals Income Investment Fund (MIIF) set up the Agyapa Royalties Limited in a bid to monetize Ghana’s gold royalties.

In exchange for that, the company intends to raise between US$500 million and US$750 million for the Government on the Ghana and London Stock exchanges to invest in developmental projects. Awlesu

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