The Africa Centre for Energy Policy, ACEP, is calling for the interdiction of the leadership of the Millennium Development Authority, MIDA, to allow for thorough investigations into alleged fraudulent misrepresentation in the ECG concessionaire agreement, with the Power Distribution Services, PDS.
At a news conference in Accra, Executive Director of the Centre, Ben Boakye, said though ACEP is not surprised about government’s suspension of the contract, it is worrying that MIDA did not do due diligence on the payment of securities provided by PDS.
According to Mr. Boakye, preliminary information available to ACEP shows, that the insurance provided by PDS has been declared fraudulent by the Qatar-based Alkoot Insurance.
Mr. Boakye was of the conviction that the ongoing investigation in the Agreement if proven to be true, would require a number of actions including an immediate audit of the beneficial owners of the local partners to PDS.
A Lawyer and the Head of Policy Unit at ACEP, Pauline Anaman also explained the legal implication of the agreement, should investigations prove government’s suspicion to be true.