Feature Article of Thursday, 15 March 2012

Columnist: Concern Citizen

RE: Corruption, Mismanagement And Profligation At Venture Capital Trust Fund

I refer to the above topics and several other topicsconcerning letters, e mails etc written by faceless people and those cowardswho assumed names in writing falsehood lies, vilifications all with thecriminal intent to have the Chief Executive Officer of VCTF, Mr. Daniel Dukuremoved from Office to satisfy their own selfish interest without just cause orany evidence to buttress their claim.

I intend to set the records straight and to put across thetruth for all Ghanaians to see as there is no such corruptions, mismanagement,or stealing at VCTF. I do not know who is sponsoring this wicked behavior ofthose writing the stories and putting them at various websites but the goodLord will surely judge them and their wicked ways for sooner they shall fallwhen the truth comes out.


My Dear reader, There has never been any transaction of USD 100,000 to anyfarmer bearing Ghost name.

Indeed, if they are referring to the recent mediaoutburst about the lady Jennifer mentioned as client of the VCTF, and then letme set the record straight. The lady was not given any USD100, 000. Thefacility granted to the lady was GHc 100,000 and not USD 100,000, and thatmatter had been investigated by the BNI and EOCO, The lady in question got herlawyers to write to the Investigating authorities and the truth came out. It willinterest anybody to know that she has started paying for the debt she owed andthere was nothing criminal about the transaction as the Board of VCTF itselfwent into the matter and made recommendations to that issue. The files are still with EOCO and there was no wrong doingby Mr. Daniel Duku. If those putting up the story and trying Mr. Duku in the media has taken their time to do a littlecheck on the matter, they would have been furnished with the truth of Mr.Duku’s innocence. Again they talk aboutGhost farmers? This also shows the blatant ignorance of those writing thestories because the procedure set for granting facility to assist farmers is socumbersome and rigid that it will be very difficult for Ghost farmers to accessthe facility. A little investigation about how one can access the facility willhave educated the so called John Vianey andothers using assumed names that what they attributes to the CEO cannot happenunder the watch of the VCTF Board and the monitoring team that occasionallyvisit the farms including an office stationed at Techiman solely for thepurpose of monitoring such farms. Indeed a lot of these farmers have startedpaying for the facility they took.

Are we receiving those monies from Ghoststoo?

Apart from the regulatory regime of granting thosefacilities, is the fact that every year the Board approved the Budget for Agricultureincluding Soya bean, Sorghum, YellowMaize etc. and all expenditures are within the stipulated budget and there is no 2.5million USD budgetedfor farmers. All the expenditures on thespecial purpose vehicle on farming activities are audited and there is alsoaudit committee that looks at all inflows and outflows. Again for the hatred,they have for the CEO, the lies they are fed with, they do not see the need tovisit the office and find out the truth for themselves.

- EXIM BANK (3 million US Dollars) VIA DODGYmillennium African Fund, a company alleged to have closed down based in Kumasi.

With the greatest respect Mr. Duku had never worked at EximBank nor was involved in any Criminal activities involving 3million USD. Indeedthe writers are so ignorant that they tend to under rate the institutions theyare mentioning as having been defrauded. Mr. Duku has a US passport and travelson it every time to the US. The AmericanEmbassy in Accra is not close down. If Mr. Duku is wanted by the Authorities,what stops them from arresting him for a fraud involving 3 million in USD. Theman walked everyday in Accra to office and back home. Does it take facelesswriters like the one calling himself John Vianney or Paul Nimako to get himarrested, please they should give Ghanaians a break. At one point they write what they do not know anything aboutand in another breath they have drawn hasty conclusions that cannot pass anyinvestigation test. Mr. Duku travel with American passport to and fro.

- Investigate the launch of the Ghana AngelInvestors Network (GAIN) specifically Ghost Consultancy Fees payments totalingUSD100, 000. Dear Reader, This is another blatant lie, falsehood, ignorant and lack ofknowledge about what GAIN is about. The record shows, when one talk to thosewho handle the GAIN project that on four (4) occasions, Mr. Duku cancelled thebudget for GAIN and reduced the budget to the barest minimum until he wassatisfied that the budgeted amount was okay for the board to approve, and noamount was spent without the board approval. It is therefore preposterous for himto be accused of spending over USD 100,000 etc on it.

Indeed the only consultant that handles the GAIN project wasVCTF legal officers, Oxford and Beaumont who handle the registration and thetrade mark. Dear reader Truth is only one and no matter what lenses youare wearing I hereby produce the full details on file about the cost of thewhole GAIN project which does not exceed 21,931.55USD so for those facelesswriters and their cronies to publish that a whooping USD 100,000was paid to aGhost consultant was not only insulting to the good people of Ghana whodeserved nothing but the truth. Oxford and Beaumont received Gh¢ 1,775 forregistration and the trade mark. Fellow Ghanaians I publish the full statement of Accounthereby audited on GAIN for your own perusal so that we can expose the liars,hypocrites and those who wake up every morning to write falsehood and peddle liarsagainst their fellows.


Movenpick - 5,285

Printing of Brochures - 9,095

Web Design - 2,850

Graphic Communications - 7,748

Video filming and Photography - 760

Master of Ceremony - 750

Trinity House Décor - 570

Mash Events Management - 589

GAIN Registration - 1,775

Media Relations - 760

Documentary production - 2,688

GTV - 240

Printing - 684

Kumasi Launch - 3,051

TOTAL - GHc36, 845


- The fraudulent deals with the VCTF for farmersscheme

Dear reader, The good book stated clearly that for lack of knowledge mypeople perish. The truth of the matter is that every year a budget is allocatedfor Soya bean, Sorghum and yellow maize etc

In 2011, the budget allocation and the procedure outlinedwas as follows

- Company registration documents

- A Business plan for the project

- A bank statement and a bank clearance

After these documents are presented, a due diligence reportis prepared by the field officers or investments team taking into account, afield visit and report on small farmer holdings before the decision to give ornot to give the facility. Dear Reader, I mustconfess that a lot have applied and were rejected for one reason or the other,some of whom have taken to bad things about the CEO.

It will interest everybody to know that most of the companygiven money in 2011 have started paying on their loan facilities and those whohave defaulted before Mr. Duku came to office have been made to pay their facilitiesand they are now paying. A critical look at to the audit report will show thegood work Mr. Duku is doing. Dear reader let me place on record that VCTF has never doneany business or transaction with the Buffer Stock Company under the ministry ofAgriculture, neither with the CEO, Mr. Eric Osei Wusu. The above attribute iscoming from corrupted imagination of the writers of falsehood, liars and wickedpropaganda of those faceless serial writers on the net. May God forgive them.

Let everybody take interest in the work of public companiesand check corruption but let no one liar, libel and bring into disrepute the hardwork and reputation of those who sacrifice their time and family to publicwork.

The record on the GAIN Account is available and let me placeon record that Mr. Daniel Duku did not personally handle this transactionexcept to okay the final budget after cutting it down four (4)times. The faceless John Vianney and his likes, I do not think haveany reputation to project hence they do not realize the damage they cause toothers when they publish such falsehood, liars, ignorant propaganda etc.

To say and I quote “BECAUSE I BEEN HAVE DISREGARDED BY THECHAIRMAN OF THE BOARD OF VCTF, HON KWABENA DUFFOUR (MIN. OF FINANCE) and assuch Hon. Duffour has never acted on my numerous e mails to him, hence myforced decision to go public to cleanse/ purge this part time NDC/NPP fraudcharacter within the party, and more importantly take this needed step tostraighten up the party itself.

Dear reader, doesn’t this smell of a personal attack and oneman’s vindictiveness to libel, malign and bring into dispute the character ofMr. Duku? A crusade they will never succeed. Doesn’t this smell of a mental disorder to be fascinated byone man’s vengeance against another? Whyare they not going to BNI, the EOCO, and CID etc with their “so calledevidence”. Why this long? Thank God we live in the Era of Constitutional Rule, a Ruleof law where Chapter five (5) of the 1992 constitution is devoted to HumanRights, A day and age where the courts will give an opportunity to all to beheard and an era where those who alleged must provide the evidence to provetheir allegations before judgment is given. An era where democracy demands thatAdministrative principles of law are adhered to and fair trials prevail? An erawhere you can challenge your dismissal if it is wrongful? Thank God we are inan era where John Vianney and their call for Vengeance will not be listened toowithout prove of their case and their call for vengeance will not be listenedto without prove of their case.

Dear Reader, I am a true and true NDC, blood for blood andlived with the principle of probity and accountability yet I do not thinkformer president Rawlings sacrifice his life for people such as John Vianney,Paul Nimako etc. who are afraid to show their ugly faces to see the truth andbe bold to say the truth rather that hide their ugly faces and vilify others,lying about situations and transactions they know nothing of and think they canuse the media to destroy people‘s image. Dear Reader, we are all Humans and are not perfect but weshould do unto others as we expect others to do unto us. To MR. Duku and hisfamily let encourage you with the above words from the Bible. 1stCorinthians chapter 16 vs. 13, “Be alert, stand firm in the faith, be brave, bestrong, Do all your work with love” and Matthew 5 vs. 11 & 12 “Happy areyou when people insult you and persecute you and tell all kinds of evil liesagainst you because you are my followers. Be happy and glad for a great rewardis kept for you in heaven. This is how the prophets who lived before you werepersecuted”. Fellow readers let all look up to the things that are Fair,things that are Just and things are Virtuous. Let’s think about things that canmove this Country forward and leave behind the likes of John Vianney and thePaul Nimako’s

Thanks .