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ANOTHER CASE OF ADDO'S FAMILY TAKE ALL POLICY

Author:
Mr Beans
Date:
2019-12-03 08:42:36



Akufo-Addo’s Brother Behind GH¢100 &GH¢200 Banknotes Contract
Posted on December 2, 2019 by Josephine Nettey in Headlines
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It is emerging that, the GH¢100 and GH¢200 banknotes announced by the Bank of Ghana (BoG) last Friday, was printed by President Akufo-Addo’s younger brother, Edward “Bumpty” Akufo-Addo, at a yet to be disclosed cost to the taxpayer, but believed to be running into several millions of pounds. The new notes, greeted with anger are to be in circulation this week.

100 Ghana Cedis 200 Ghana Cedis

The company, which printed the notes, has been mentioned as De La Rue, a security printing firm based in the United Kingdom, and Mr “Bumpty” Akufo-Addo, according to insiders, holds the agency for De La Rue in Ghana, for many years.

What is strange is that, despite his senior brother becoming President, with their cousin; Ken Ofori-Atta, as Finance Minister in direct control of BoG, nothing has changed, even with suspicion of conflict of interest.

BUMPTY PAID GHS2M IN 2018

BoG spent GH¢153 million on printing cedi notes in 2018


The Bank of Ghana last year spent more than GH¢153 million to print the country’s legal tender, the cedi.

The amount spent includes the actual cost of printing the legal tender, fees paid to the agency that supervised the printing process as well as what the central bank describes as other currency expenses.

According to the central bank’s 2018 annual report, the total cost of printing was around GH¢146.7 million while an amount of GH¢2 million was paid as agency fees with more than GH¢4 million spent on other expenses.

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