“Ofori-Atta failed to honor his end of the bargain–Kofi Amoabeng
Prince Kofi Amoabeng, co-founder of defunct UT Bank, has revealed that the Finance Minister Ken Ofori-Atta failed to honor his end of the bargain. According to Mr. Amoabeng, The Finance Minister defaulted badly on the repayment schedule. “The situation was so bad that they could only service the interest on the loan,” he revealed. Mr Amoabeng, whose bank was later collapsed under President Nana Akufo-Addo with Mr Ofori-Atta as Finance Minister, narrated in his book ‘The UT story: Humble Beginnings’, that “Ken and his partner, Keli Gadzekpo, came to me bearing their shares in Enterprise Insurance as collateral for a loan of about ¢5 million”. “At the time, the cedi had undergone redenomination and had been rebranded as ‘new Ghana cedi’. The ¢5 million he requested, therefore, was equivalent to about $5 million,” he pointed. Mr Amoabeng said, even though the duo did not meet certain requirements, he guaranteed they got the loan because of his close relationship with Mr. Ofori-Atta at the time. “We were very good friends, so, I felt obliged, albeit not without conducting the necessary due diligence. It was curious though that they did not prefer the banks where they would have secured the loan at a much lower annual interest rate as compared to our significantly higher monthly compounded interest rates”, he expressed. “Be that as it may, after I perused their documents, I felt it was acceptable to grant the loan. The only snag, and a significant one at that, was that the amount exceeded the Single Obligor Limit. Ideally, I should have declined their request there and then. Instead, I decided to bail them out,” he said “Unfortunately, Ken failed to honour his end of the bargain. He defaulted badly on the repayment schedule. The situation was so bad that they could only service the interest on the loan,” he revealed. “I became concerned because I had assured the board, I knew Ken very well and I was convinced beyond doubt that he would honour his word. Thus, I had egg on my face, especially as my partner had expressly stated his disapproval of the request,” he said. “I called a meeting with Ken and Keli and admonished them to do their best to pay up. I made it clear to them that I did not want my men to hassle them. Sefa Asante was the Credit Officer in charge of that portfolio. Because of my relationship with Ken and the respect I had for him, I prohibited Sefa and his team from applying our usual, rigid recovery methods. “In fact, I gave him express instructions not to ever hassle Ken and his team. They could check on them every now and then, but they had to be discreet about it. If they felt they were being stonewalled, they should not push back or react. Rather, they should revert to me on how to handle the situation,” he said. “Furthermore, to be double sure that Ken and Keli were not hassled, I devised a clever plan and informed them about it. Anytime the board exerted pressure on me, I invited them to a meeting, documented the meeting, and formally informed the board about it. It was all a ruse to hold the board at bay and buy Ken and Keli more time to pay up,” he added. “When the issue lingered, I reduced the interest rate to about 3% a month, just so they could settle their debt. Unfortunately, it took them over four years to pay up. Even then, they serviced it in bits and pieces until they were able to eventually pay up,” he revealed. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your adverts and credible news publications. Contact: 05555568093
NABCO: Words of hope for NABCO beneficiaries
NABCO beneficiaries have been asked to hold high their patience because management is Working to effect payment of arrears before Christmas. Apexnewsgh.com report The statement also assured CPTP trainees that no ‘eligible’ and ‘validated’ outstanding stipends will be unpaid when validation processes are completed. Below is the full statement NABCO Trainees Association of Ghana (NABTAG) 13th December, 2021 Hold High Your Patience; Management is Working to Effect Payment of Arrears Before Christmas. ➖➖➖➖➖➖➖➖➖➖➖ The leadership of NABTAG unreservedly acknowledges the hardship suffered by trainees due to non-payment of arrears. In a similar way, management is not intentional about the turn of events as due diligence has been made to effect payment anytime soon. We want to assure CPTP trainees that no ‘eligible’ and ‘validated’ outstanding stipends will be unpaid when validation processes are completed. Management is presently working round the clock to put things in place. On behalf of trainees, management is hereby pleaded to expedite the necessary arrangement to effect payment of arrears, especially as we enter into the festive season. Be Proud Nation Builders! NABTAG Communication Team Apexnewsgh.com/Ghana Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your adverts and credible news publications. Contact: 05555568093
UER: People of Bawku expresses views on smock wearing ban
According to Regional Security Council (REGSEC) all persons living in Bawku were banned with immediate effect on 23rd November 2021 not to wear their normal traditional smock attire due to a perceived conflict in the area. The statement also advised all persons living in Bawku Township to take note of the directive and comply until further notice. Municipal (MUSEC) was to ensure that the directive is enforced and anyone who fails to comply should be dealt with accordingly. The statement was signed by the father of the region, the Upper East Regional Minister Stephen Yakubu. REACTIONS Even though there has been some level mixed reactions or different opinions from the people of Bawku regarding the ban on smock wearing, the majority of the people who spoke to Apexnewsgh.com still believes the decision by the Regional Security Council (REGSEC) stands tall as far as maintaining peace and preventing impending conflict is concerned in the area. However, below are some of the accumulated views gathered from the people of Bawku following the ban on smock wearing in the area: “I think most of the people are now used to it due to how people themselves are in need of peace. Anything the law enforcement agencies are bringing to maintain the peace, we will all abide by that. For that purpose, the ban on smock-wearing is normal currently. For now, there are no festivals that require the mandatory wearing of smock”. “Because of our tradition here in the northern Upper East or Bawku for instance, when there is any festival people will be compelled to wear a smock, for example, the Damba festival, people will be compelled to wear smock because is their tradition. Wearing of smock shows their culture, the Samapiid festival, people will indeed wear a smock to showcase their tradition, the “Bud Yelle festival, people will like to wear a smock, the Zezula festival, people of Bawku will like to wear a smock to showcase their tradition. Normally, we up north here smock is our tradition especially when there is a festival”. They stressed “So, because there is no immediate festival and the only one approaching is the Samapiid festival on December 29, 2021”. So for now, people are complying with the directive by the law enforcement agency. In the past, during the high heated conflict era in Bawku in the year 2001, 2007, 2008 and 2009, people used to put guns in them and cover them with a smock. So, because of that, they can ride motor to go and perpetuate violence. So, because of that and based on security intelligence, they realized that banning the smock will yield a very good result”. They explained Some other views we gathered also acknowledge the ban compliance in the area, hence making an interesting observation. However, we observed that the people of Bakwu after the smock ban switched to wearing Muslim Zalabia which is even longer than the smock itself. “They are complying, especially the market day people use to wear a smock and other things but, because of the ban on smock wearing, they are now wearing the Batikili or if like the Muslim Zalabia. They should have banned them from wearing a long dress too, because if they suspect the people putting guns inside the smock, what about the Muslim long Zalabia? Because that one is even longer than smock, with that one if you put something inside, no one will even notice it”. However, there are also views of anticipation that the REGSEC might consider lifting the ban for the celebration of the Samapiid festival which is scheduled to take place on December 29, 2021. According to residents, they are still wondering how the prestigious festival will be celebrated without people showcasing their tradition by way of wearing a traditional smock. Apexnewsgh.com/Ghana Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your adverts and credible news publications. Contact: 05555568093
Many other high-profile prosecutions involving corruption ongoing —Prez Akufo-Addo
President Nana Akufo-Addo has revealed, that as part of his fight against corruption, the Attorney General, is prosecuting some high-profile personalities for numerous offenses which includes economic crime, money laundering, procurement breaches and fraud. Addressing the congregation at the National Anti-Corruption Conference on Friday, 10 December 2021, President Akufo-Addo said, the Office of the Attorney General and the Economic and Organized Crime Office (EOCO) have successfully prosecuted a number of high-profile cases, including a case of stealing in the Republic vs. Eugene Baffoe-Bonnie & Others. “Many other high-profile prosecutions involving corruption, economic crime, fraud, procurement breaches and money laundering, like the Republic vs. Alhaji Collins Dauda & 4 Others in the Saglemi Scandal; Republic vs. Ernest Thompson & Others; Republic vs. Dr. Kwabena Duffuor & Others; Republic vs. Stephen Opuni & Others, are ongoing. It is worthy to note that these cases have, as their sole object, the principle of holding public officers to account, and involve sums in excess of $850 million and GH₵2 billion,” he added. He said, “inasmuch as public officials are required to declare their assets upon taking office as a tool of fighting corruption, I am, however, of the candid opinion that existing legislation on corruption, relating to the conduct of public officers in Ghana, appears to be inadequate to deal extensively with public office accountability.” “the need to lay down a set of far-reaching and a more fit for purpose set of regulations for the conduct of public officers, which will give effect to the provisions of Chapter 24 of the Constitution on the conduct of public He pointed that the Attorney General, over the past four months, has undertaken various stakeholder consultations with a number of public sector organizations, civil society and other interest groups to this end. When passed into law, President Akufo-Addo indicated that the Conduct of Public Officers Act will follow the example of legislation in other jurisdictions like the United States Ethics in Government Act of 1978, Public Officers Ethics Act of Kenya, and the U.K. Constitutional and Governance Act of 2010, in addressing issues regarding financial portfolios held by public officers before assuming public office, links to the family business, improper enrichment, care of the public property, professional practices, property, investments/shareholdings and other assets, self-dealing, partiality in the performance of duties, use of public or confidential information to further private interest, amongst others. President added “The Bill provides a gamut of stringent administrative measures and sanctions to deal with violations of the law, ranging from a bar against holding public office for limited and indefinite periods to penal measures. The Bill also seeks to strengthen the role of CHRAJ in the investigation of allegations of contravention of or non-compliance with the Code of Conduct for Public Officers, including conflict of interest, non-declaration of assets, and illicit enrichment,” Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your adverts and credible news publications. Contact: 05555568093
Go deeper, if not you might think there is nothing for your constituency or your district in the budget—Abdulai Abanga told 2022 budget critics
The Member of Parliament for Binduri Constituency of the Upper East Region Abanga Abdulai has challenged opposition critics who claimed the 2022 budget didn’t capture any reasonable thing for the Upper East Region, to go deeper into the budget. Apexnewsgh.com report “If you don’t go deeper in the budget, you might think there is nothing for your constituency or your district but that is not the case. You need to go into the details of the budget”. Speaking to Apexnewsgh.com in an exclusive interview on Thursday, December 9, 2021, Mr. Abanga said, one critical or far-reaching policy he saw in the budget that is goodies for his people in Binduri and Upper East Region at large is the ‘YouStart’ which he thinks will inure to the benefit of the youth in the region. However, he also pointed that the Pwalungu Multi-Purpose dam which he personally described as a game-changer for the people of Upper East was captured in the 2022 budget and funds were allocated for the project. “One critical or far-reaching policy I have seen in the budget that contains goodies for our people is this youth employment solution that has been provided in the budget the ‘YouStart’. This is an initiative the government intends to support over one million youth to be able to set up their own businesses either as individuals, SMEs or groups. What is happening in Upper East currently, is a national problem and our problem is that we have young people who are looking for jobs and they can’t find jobs. So, what we need to do, is to position ourselves well as leadership to get our people ready to take advantage of this policy”. He said Responding to the controversial E-Levy, he said the only way nations across the world could survive is through taxing. “That only way every country across the world survived their economy. In fact, even if the government goes to borrow and come and construct infrastructure, it is the same taxes that the government will collect from the people and pay back the loans. So, we have to decide, if we want to contribute so that we can get more Feeder roads in various constituencies and districts if we want agenda 111 which Binduri is a beneficiary with some other districts in the region. After the construction, we have to recruit doctors, we have to recruit nurses so that when one is sick and he went to the hospital, there will be some people to take care of your health. The Free Senior High School (FSHS) which district is not benefiting from it? In this budget, is going to be taken care of. Planting for Food and Jobs (PFJ), who in the Upper East region, have not benefitted from PFJ? So, E-Levy is a way of raising money to support the roads, the hospitals, FSHS, and so on”. He explained “I would just want to encourage everybody that anytime you drive on the road, anytime you went to the hospital, anytime your child goes to secondary school and he or she is not paying fees, you have to understand that somebody is paying the cost of those things and so, this E-Levy is calling on you to make your contribution towards these social amenities you all enjoy every day. So, you shouldn’t think that you are paying money for nothing in return”. He stressed Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your adverts and credible news publications. Contact: 05555568093