Parliament demands details on $12million expenditure on botched Agyapa deal

Headlines Parliament demands details on 12million expenditure on botched Agyapa deal
FEB 21, 2024 LISTEN

The Mines and Energy Committee in Parliament has given the Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF), Edward Nana Yaw Koranteng, a seven-day ultimatum to provide the Committee with further details regarding the $12 million spent on the botched Agyapa royalties deal.

He is expected to provide the committee with the documents by February 27, 2024.

President Nana Addo Dankwa Akufo-Addo ordered the suspension of the Agyapa deal following a public outcry in 2021.

Mr. Koranteng, during a Public Accounts Committee (PAC) Sitting on Tuesday, February 13, 2024, disclosed that $12 million was spent on the suspended Agyapa royalties deal.

He explained that the amount was expended on the process of issuing the initial public offering on the London Stock Exchange before the suspension.

This has sparked public outrage, including the National Democratic Congress (NDC), vowing to prosecute government officials and persons involved in the controversial deal if it emerges victorious in the December polls.

The Committee, in a statement signed by Senior Assistant Clerk/Schedule Officer, Benjamin Tachie Antiedu, dated Tuesday, February 20, 2024, explained that “The purpose of the request is to guide the select committee on the appropriate steps to take in respect of the allegation.”

Find the full statement below