$2.25b bond: DYMOG drags CHRAJ, Ofori-Atta to court

Dynamic Youth Movement of Ghana (DYMOG) an anti-graft group has dragged CHRAJ and the Finance Minister, Ken Ofori-Atta to the Supreme Court for violating its limits in the 2.25 billion-dollar bond case.

The group has made claims that CHRAJ, in reviewing a petition on the controversial bond in which the Finance Minister Ken Ofori-Atta being accused of conflict of interest has decided to make some assertions on the matter that are ‘totally’ out of context thereby infringing the provisions of the 1992 constitution.

To that effect, Executive Convenor of DYMOG, Edward Tuttor established in a press statement that they have issued an injunction against CHRAJ, Mr Ofori-Atta and the Attorney General over the issue.

‘’Interestingly, DYMOG is also taking on CHRAJ because she declared judgment on Ken Ofori Atta with regards to the issue of, Conflict of Interest. We believe it will take a court of competent Jurisdiction to pass judgment on that matter and not CHRAJ’’. The statement read

The group however is accusing the Finance Minister, Ken Ofori Atta for breaching Bank of Ghana’s guidelines established as “Guidelines for the Government Securities Market for Primary Dealers” set to regulate the issuance of Government Securities, not presenting the bond to parliament according to Article 181 of the 1992 Constitution and Article 56 of the Public Financial Management Act, and also the refusal of him to declare his assets thereby breaching Article 286 (1) (a) of the 1992 Constitution.

Also, it has described the actions of Mr Ken Ofori-Atta and CHRAJ with regards to the$2.25b bond as unpardonable hence their call on the Supreme Court to handle the case and issue the appropriate sanctions with accordance to the law.

The group seeks;

The group seeks a declaration that by going beyond investigations to make a pronouncement (of guilt or otherwise) on the Mr. Ofori-Atta in respect of the allegation of breach of conflict of interest, CHRAJ contravened Article 287 of the 1992 Constitution.

The group also wants the court to declare that the failure of Mr. Ofori-Atta to declare his shareholding interests in Data Bank Financial Services Limited, Data Bank Brokerage Limited and Data Bank Financial Holdings Limited to the Auditor-General before taking office as Minister of Finance, as found by the CHRAJ, contravenes Article 286(1)(a) of the 1992 Constitution.

DYMOG also seeks a declaration that by issuing or overseeing the issuance of the said bonds without disclosing his interests in the securities industries in general, Mr. Ofori-Atta breached Article 284 of the 1992 Constitution.