Government clears legacy debts owed bulk oil distributors - Senyo Hosi
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Government clears legacy debts owed bulk oil distributors - Senyo Hosi

- Government has settled in full debts owned BDCs

- This was revealed in a statement signed by the BDCs CEO, Senyo Hosi

- According to the BDCs the debt which accrued between July 2011 and July 2015, was estimated at 1.43 billion dollars

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The New Patriotic Party (NPP) government has completed the payments of debt owed Bulk Oil Distribution Companies (BDCs).

This was revealed in a statement signed by the Chief Executive Officer of the BDCs, Senyo Hosi.

The debts owed by government had accrued between 2011 and 2015.

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According to the Chambers CEO, Mr. Hosi, government made the final payment, which included interest on January 13, 2020.

In all government made payments to the tune of one billion dollars to the BDCs.

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The statement issued by the Chamber on Monday, February 10 indicated that the money received was now due for redistribution to beneficiary banks and petroleum service providers.

YEN.com.gh earlier reported that the UK Crown Court ruling revealed that Ghana went into a fictitious agreement with Airbus, an arrangement which the UK’s Serious Fraud Office describes as fraudulent.

The document from the UK Crown Court further states that Airbus failed to prevent persons associated with it from bribing others concerned in the purchase of military transport aircraft for the government of Ghana.

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Between July 1, 2011, and June 1, 2015, the government of Ghana went in an agreement with Airbus to purchase three military aircrafts.

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Source: Yen

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