Monday, 15 April

Mines and Energy C'ttee demands details on $12m spent on botched Agyapa deal


The Mines and Energy Committee in Parliament has issued an ultimatum to Edward Nana Yaw Koranteng, Chief Executive Officer of the Minerals Income Investment Fund (MIIF), demanding further details on the $12 million expenditure related to the halted Agyapa royalties deal. 

Mr. Koranteng has been given seven days to furnish the committee with the necessary documents, with a deadline set for February 27, 2024.

President Nana Addo Dankwa Akufo-Addo had previously suspended the Agyapa deal in response to public outcry back in 2021. 

During a recent session of the Public Accounts Committee (PAC) on Tuesday, February 13, 2024, Mr. Koranteng disclosed that $12 million had been spent on the deal before its suspension. 

He clarified that this expenditure was incurred during the process of initiating the public offering on the London Stock Exchange.

The revelation of this spending has ignited public indignation, with the National Democratic Congress (NDC) among those expressing strong opposition. 

The NDC has pledged to pursue legal action against government officials and other individuals involved in the controversial deal should they win the upcoming December elections.

In a statement dated Tuesday, February 20, 2024, and signed by Senior Assistant Clerk/Schedule Officer Benjamin Tachie Antiedu, the Committee clarified that their request for further information aims to guide them in determining the appropriate course of action regarding the allegations.