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Anti-Corruption Movement Demands Forensic Audit of Agyapa Deal

This demand comes after Edward Nana Yaw Koranteng, the Chief Executive Officer of the Minerals Income and Investment Fund (MIIF), revealed in a Public Accounts Committee (PAC) meeting that 12 million US dollars had been spent on the deal. 

The Co-chair of the Citizens’ Movement against Corruption (CMaC), Edem Senanu, has called for a forensic audit of the deal, stating that it needs to be investigated thoroughly. 

This demand comes after Edward Nana Yaw Koranteng, the Chief Executive Officer of the Minerals Income and Investment Fund (MIIF), revealed in a Public Accounts Committee (PAC) meeting that 12 million US dollars had been spent on the deal.

“This is the kind of thing that needs a forensic audit. Let’s get to the minutest detail. I remember how we were really concerned about the projections and how civil society was united that this thing was not good for Ghana,” he said on TV3’s Ghana Tonight program.  “Here we are, one would not have imagined that as much as 12 million dollars had already been put into this so-called deal. We ought to be demanding a very detailed audit of what transpired and who is involved.”

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Mr. Senanu also emphasized the need for legal action against individuals found culpable.

“There has to be prosecution, let’s make sure people are prosecuted. This should not wait for a new government. It is something that needs to be investigated thoroughly and sanctions applied even now,” he added.

President Nana Addo Dankwa Akufo-Addo suspended the Agyapa deal in 2021 following a public outcry. The government proposed the deal to raise funds through mineral royalties for key infrastructure projects. However, the opposition National Democratic Congress (NDC) and some civil society organizations opposed it.

According to the CEO of MIIF, 12 million dollars was expended on the processes to issue the initial public offering on the London Stock Exchange before the suspension.

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In the latest development, the Mines and Energy Committee has given the CEO of MIIF a seven-day ultimatum to provide details on the 12 million dollars spent.

Meanwhile, the NDC has also vowed to investigate and prosecute all persons involved in the botched Agyapa Royalties deal when voted into power.

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