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General News | May 17, 2004

We Were Cajoled to Sign $300m Barber Loan - MP

The Daily Guide

The Member of Parliament for Ketu North, Hon. Modestus Ahiable, has stated that the minority members in Parliament were hijacked and forced to sign the CNTCI $300 million loan agreement.

Speaking to the Daily Guide in an exclusive interview at the NDC headquarters on Friday May 14, hon. Ahiable who is also chairman of the Volta Region al Caucus of MPs claimed that the members of the House, were not given room to study the memorandum of understanding on the loan agreement, but were rushed though to sign what he called, the “so called CNT Group Holdings or CNTCI $300million loan.

He told Daily Guide that the speed, with which the loan was rushed through the House, raises an eye brow. The Ketu North MP recalled that on 13th day of April 2004, Parliament was called to consider the extension of the state of emergency in Dagbon when all of a sudden, the MoU concerning the loan, was sprang on them to sign.

According to him, they asked questions concerning the loan agreement, but the minority was attacked by the majority, thus compelling a number of them, including himself, to leave the chamber. He maintained that MPs were not thoroughly briefed on the loan agreement. The Hon. MP claimed further that they were given only two hours on April 13 to study the document. Hon. Ahiable explained that in the normal circumstances, the document should have been given to them three-days for careful study before any approval was sought.

Meanwhile, Hon. Osafo Maafo, finance minister has dispelled the MPs assertion that the loan was rushed through Parliament, explaining that the document was laid before Parliament for a full one month, March 9, 2004 to April 13, 2004 before it was approved. He pointed out that the loan did not come out from the moon since the Ambassador of China was in the country to have discussions with the President, adding that the government will always go for credible loans and grants to enhance accelerated development.

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