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General News of Wednesday, 6 September 2017

Source: Starrfmonline.com

I have no supply contract with COCOBOD – McDan CEO

The Chief Executive Officer of McDan Shipping Company Daniel McCauley has denied any wrong doing in the GH¢10.45million loan granted to his company by the ADB.

According to him, claims that he leveraged on a perceived relationship with the finance minister to secure the loan are baseless and untrue.

The Minority on Tuesday accused Mr. Ofori-Atta of usurping the authority of the board of ADB in the approval of a loan facility to McDan Shipping Company Limited.

According to the Minority, Mr. Ofori-Atta issued a letter to the Managing Director of ADB to grant GH¢10million to the shipping company to finance a contract with COCOBOD.

Addressing a press conference Tuesday September 5, 2017, the Minority leader Haruna Iddrisu claimed that the Minister of Finance single-handedly, approved the loan facility, in breach of the country’s financial laws. The Finance minister has denied any underhand dealing in the approval of the loan.

Speaking to Starr News’ Kennedy Mornah, Mr. McCauley said he does not have “any supply contract with COCOBOD”.

“The arrangement was purely a business transaction. The accusations are palpably false and the minister could not have usurped the powers of the ADB board.

“I don’t have any supply contract with COCOBOD. I am a client of ADB and I got the credit facility based on merit. I am a businessman and will not do anything to dent the reputation of my business”