Databank withdraws from “bid-rigging” Agyapa deal as Parliament vets Ken Ofori-Atta; CSOs angry

Databank withdraws from “bid-rigging” Agyapa deal as Parliament vets Ken Ofori-Atta; CSOs angry

- The Agyapa deal has been criticized by anti-corruption crusaders who want it terminated

- Former Special Prosecutor, Martin Amidu said the deal was designed to facilitate illicit financial flows and money laundering

- Ken Ofori-Atta is expected to answer a litany of questions on the controversial deal

Our manifesto: This is what YEN.com.gh believes in

An investment bank, Databank has withdrawn from the controversial Agyapa Royalties deal as transaction advisors.

The bank’s withdrawal from the deal comes at a time when the finance minister-designate, Ken Ofori-Atta appears before the Appointments Committee of Parliament.

Databank withdraws from “bid-rigging” Agyapa deal as Parliament vets Ken Ofori-Atta; CSOs angry
Photo Credit: Ministry of Finance Ghana
Source: Facebook

Former Special Prosecutor, Martin Amidu, conducted a corruption and anti-corruption risk assessment report on the deal in 2020.

According to the report, there was reasonable suspicion of “bid-rigging and corruption” as well as the likelihood for “illicit financial flows and money laundering” in selecting the deal’s transaction advisor(s)."

Amidu resigned as the country’s special prosecutor following the report, citing threats on his life and a series of traumatic experiences.

Read also

Money influences selection of Council of State members under Akufo-Addo - Dr. Nyaho-Tamakloe

The Group CEO of Databank, Kojo Addae-Mensah explained that the bank was pulling out due to attacks on its reputation as a result of the finance minister-designate’s association with it.

He said the tumult generated not only grossly compromises the ability to execute such a market-sensitive and novel transaction, but also has a real tendency to severely damage the invaluable business reputation of Databank.

The bank’s withdrawal from the deal has been met with fierce suspicion with Civil Society Organisations observing that the timing aims at preempting the questions to be asked on the deal during the vetting of Ofori-Atta.

“It, therefore, leaves one wondering whether this is not an attempt to preempt the discussion of the matter during the Minister-designate's vetting next week in Parliament,” leader of the group, Dr. Steve Manteaw was quoted as saying.

Away from Agyapa to other news on YEN.com.gh, the legal team of President Nana Akufo-Addo is reportedly flirting with the idea of subpoenaing John Mahama to mount the witness box in the ongoing election petition.

Read also

Election petition: Kumasi-based preacher reveals Mahama’s petition will fail

A spokesperson for the team, Kojo Oppong Nkrumah, disclosed this on Thursday, February 11, 2021.

“I have heard conversation by some that if they elect to subpoena the Electoral Commission chairperson maybe we should also elect to subpoena the petitioner…” he said in a post-trial interview monitored by YEN.com.gh

Tsatsu Tsikata said he would reopen the petitioner’s case to subpoena the EC chair into the witness box for cross-examination.

The seven-member panel hearing the case said a party to a case cannot be forced to induce evidence.

According to the panel, the respondents have a right not to induce evidence after the petitioner had closed his case.

Enjoy reading our stories?

Join YEN.com.gh's Telegram channel!

Download YEN's news app on Google Play now and stay up-to-date with major Ghana news!

Source: Yen

Online view pixel