Gov’t Doesn’t Owe Agyakot Co. Ltd …says Ceo

The Chief Executive Officer of Agyakot Company Limited(ACL) Mr. Samuel Agyapong released a statement yesterday to debunk claims making the rounds that his company owed the Ghana Growth Fund over four million Ghana Cedis.

The Ghana Growth Fund(GGF), a subsidiary of Group Ndoum(GN) yesterday posted a writ of summons on the internet through some local online portals purporting to have sued Agyakot and three others comprising of Finance Minister, Attorney-General and Minister for Roads and Highways over their indebtedness to the GGF.

The GGF apparently invests money on behalf of Gold Coast Fund Management(GCFM) which also falls under the umbrella of Group Nduom(GN). The GCFM has recently been in the news for its inability to pay her clients due to the GGF’s inability to cough-up their investment in capital and interest adding up to Gh¢4,416,719.37.

But according to the statement released yesterday and signed by the CEO of ACL, Mr. Samuel Agyapong, he indicated that as far as his company is concerned the GGF funded a project they were executing for government after which certificate of completion of work done was raised and based on that the government through the Finance Minister paid directly into the accounts of GGF at the GN Bank which also happened to be under the GN and owned by Paa Kwesi Nduom.

He said, the last job and the last payment made by the finance ministry of about four million Ghana Cedis was paid directly into GGF’s account at the GN Bank in December last year and no job has been done since because the GGF has not been able to raise funds.

Mr. Agyapong narrated further that the rest of the uncompleted works are due to lack of funds and “quite frankly because of the delays in the work schedule even our percentage in the contract has been consumed by Nduom’s high rate of interest and because the cheques are paid directly into his account at GNB i don’t receive nothing”.

He noted saying, “as far as I am concerned government is not owing Agyakot and Agyakot is not owing GGF but am quite surprised that I have not been served any summons and yet its all over in the media”