Wednesday, June 29, 2022

Supreme Court dismisses suit against Finance Minister on issuance of dollar bond

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A Seven Member panel of the Supreme Court presided over by Chief Justice Anin Yeboah has unanimously dismissed the suit against the Finance Minister, Ken Ofori Atta, on the issuance of a two point two-five-billion-dollar bond.

The Court dismissed the suit is without merit. The Chief Justice said the reasons of the court would be filed by close of day at the Court’s Registry.

The Dynamic Youth Movement of Ghana (DYMOG) dragged the Finance Minister, CHRAJ and Attorney General to the Supreme Court over CHRAJ’s investigations into the two point two-five-billion-dollar Bond issuance in March 2017.

The Movement was among other things, demanding interpretation of Articles 284, 286 and six other reliefs. A declaration that by going beyond investigations to make a pronouncement on the 1st Defendant in respect of the allegation of breach of conflict of interest, the 2nd Defendant has contravened Article 287 of the 1992 Constitution.

The movement was also seeking a declaration that by interpreting Article 284 of the 1992 Constitution as disclosed between paragraph 3 of page 127 and paragraph 3 of page 133 of the Report, the 2nd Defendant has contravened Article 130(1)(a) of the 1992 Constitution.

The Dynamic Youth Movement of Ghana was also asking a declaration that the failure of the 1st Defendant 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 2nd Defendant on page 120 of the Report, contravenes Article 286(1)(a) of the 1992 Constitution.

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