Attorney General describes Agyapa deal as burdensome

Attorney General describes Agyapa deal as burdensome

The controversial Agyapa Royalties deal continues to generate various opinions in the country.

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The latest revelation concerning the agreement indicates that the deal that was signed by the government of Ghana is opposed by the Attorney General and Minister of Justice, Gloria Akuffo.

According to a letter posted by Starrfm.com.gh, Madam Gloria Akuffo pointed out to the Finance Minister that the Agyapa deal is “unconscionable”.

Attorney General describes Agyapa deal as burdensome

Ghana's Attorney General, Gloria Akuffo. Source: Starrfm.com.gh
Source: Depositphotos

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The legal opinion offered to the Republic of Ghana by the AG said: “The agreements run in perpetuity and, therefore, have no fixed term”.

She also noted in her opinion to the state that the agreement also violates the Bank of Ghana Act, 2016 (Act 918), which state that any transaction in the country must be made in the currency unit of Ghana which is the cedi, but the Agyapa deal has figures quoted in US Dollars.

The leaked letter further showed that the Attorney General warned that “the agreements also appear to be cast in stone with no options to evaluate their effectiveness and/or satisfactory performance so as to renew or terminate same should the need arise. This makes the agreement unconscionable”.

Ghana's Parliament, on Friday, August 21, 2020, in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), approved agreements to allow the country to derive maximum value from its mineral resources.

The agreement will give Agyapa Royalties Limited the right to secure about $1 billion to enable the government to finance large infrastructural projects.

Attorney General describes Agyapa deal as burdensome

Attorney General, Gloria Akuffo's recommendations on the Agyapa Royalties deal. Source: Starrfm.com.gh
Source: UGC

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The Minority in Parliament boycotted the deal and accused the government of mortgaging Ghana’s gold resources.

Former President John Mahama and some civil service organisations in the mining industry have all kicked against the Agyapa deal.

YEN.com.gh earlier reported that Vice President, Dr. Mahamudu Bawumia, says whether he will take over from his boss, President Nana Akufo-Addo or not, is in the hands of the Almighty God.

According to the veep, he is focused on his work as vice president for now and is not thinking about becoming president for now.

Bawumia made the comment while responding to the question “Would you like to succeed your boss one day?” during an interview on Peace FM on August 26, 2020.

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Source: Yen.com.gh

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