Former President John Mahama has described the Agyapa deal as “theft of Ghanaian royalties” and promised to terminate the controversial arrangement if he wins the 2020 elections.
The NDC flagbearer, who also spoke about the Akufo-Addo’s anti-corruption fight, insisted the Agyapa deal is shady and smacks of wrongdoing just like the botched “PDS deal” which was to sell the Electricity Company of Ghana (ECG) to people very close to the region.
“Agyapa is a very shady deal, it is a theft of Ghanaian royalties. If I become president, I will not accept that deal.
The people of Ghana do not accept that deal. It is against the money laundering rules. If you look at the people who put this together, they are people close to the president and already they have been paid two million dollars.
“This president and his family think they can do anything and get away with it,” he told TV XYZ in an interview Sunday.
He said the Agyapa deal is not different from the terminated PDS deal.
“We will investigate PDS, especially when people related to the President were involved in structuring the PDS deal. There is enough evidence to investigate PDS and prosecute”.
Parliament two weeks ago approved five agreements to allow the country to derive maximum value from its mineral resources and monetise its mineral income accruing to the country in a sustainable and responsible manner, in line the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978).
The approval will enable the country to use a special purpose vehicle, Agyapa Royalties Limited, to secure about $1 billion to finance large infrastructural projects.
In line with that, Agyapa, which will operate as an independent private sector entity, will be able to raise funds from the capital market, both locally and internationally, as an alternative to the conventional debt capital market transactions.
The funds, which are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE), will be a long-term capital, without a corresponding increase in Ghana’s total debt stock and hence without a public debt repayment obligation.
The NDC flagbearer also insisted President Akufo-Addo has lost the fight against corruption hence their silence on the subject at their manifesto launch, adding the failure of the current administration to fight corruption as promised has weakened the confidence of Ghanaians in politicians.
When asked if he was surprised nothing was said about corruption at the NPP manifesto launch at Cape Coast, the former President said: “I’m not surprised they were silent on corruption. They actually have lost the fight against corruption completely. This president is not committed to fighting corruption. Obviously they have lost the fight”.
“This president is a lawyer and has asked the auditor general to go on leave, it means he can ask the EC boss, CHRAJ and other officers of that stature to go on leave. And if you’re on leave and the keys to your office are changed, it means there is no intention of you coming back,” he said.
President Akufo-Addo in a statement dated Monday, June 29, and signed by the Director of Communications at the Presidency, Mr Eugene Arhin directed the Auditor General to proceed on his accumulated leave and hand over all matters relating to his office to Mr Johnson Akuamoah Asiedu, the Deputy Auditor-General, to act as Auditor-General, “until his return from his well-deserved leave.”
The statement explained that the President’s decision was based on sections 20 (1) and 31 of the Labour Act, 2003 (Act 651) which apply to all workers, including public office holders such as the Auditor-General.