Tuesday, 27 February

GRA denies accessing US$75m bank loan

Business
GRA office, Accra

The management of the Ghana Revenue Authority (GRA) has denied accessing a US$75-million loan from a bank as claimed by Bolgatanga Central MP Isaac Adongo.

The Ranking Member of the Finance Committee of Parliament had told the media that GRA took the loan illegally without approval from parliament.

He, thus, called for a parliamentary probe.

In a statement signed by Nana Birago Owusu-Ansah, Chief Revenue Officer, Communication and Public Affairs Department, the management of GRA clarified that in 2022, the Authority had the intention of securing a loan facility to embark on a major capital expenditure project and, therefore, wrote to the Ministry of Finance to seek a “no objection” from the minister. 

It said, upon receipt of the “no objection” from the Ministry of Finance, the Board and Management of GRA discussed the issue further and decided not to access the loan facility anymore.

"It was for this reason, that GRA did not proceed to Parliament on the issue", adding: "We wish to categorically state that the Ghana Revenue Authority has not accessed any US$75 million loan from any bank as indicated by the Honourable Member of Parliament for Bolgatanga Central".

Source: classfmonline.com