Former Convener of Individual Bondholders Forum, Senyo Hosi, has taken a swipe at the Ghana Cocoa Board (COCOBOD) and the government over the non-payment of cocoa bills.
In an interview on Joy FM’s Top Story on Wednesday, January 17, he blamed the central government for the failure of COCOBOD to settle customers’ funds.
He asserted that there is no difference between cocoa bills and treasury bills; therefore, if the government is paying treasury bills, it should do the same for cocoa bills.
“Government should wake up. Mr President should wake up. People’s lives are at stake, lives are being destroyed, families are being dissipated unnecessarily and the government has to take responsibility for it. We can’t let people like these suffer for it,” he entreated.
Mr Hosi’s grievance follows some holders of cocoa bills who did not participate in the Government of Ghana Cocoa Bill Exchange programme asking COCOBOD to pay their coupons and principals before the end of January 2024.
According to them, the delay by COCOBOD to pay them their coupons and principals is affecting their livelihood.
The Economic Policy Analyst sympathised with the customers, describing the situation as sad and unacceptable.
He called for the customers’ funds to be paid immediately and urged the government to take responsibility.
According to Mr Hosi, COCOBOD must come out of their shells and defend the lives of the customers.
“Rex Ogbarmey, you can’t sit there and watch these things happen… Lives are at stake and that is what the language of SEC is all about. We have the Governor of the Bank of Ghana, Ernest Addison on the board, the Ministry of Finance, politicians, the Ministry of Trade and Industry, the Ministry of Agric – with all these people, who is running the institution? Is it not the same government? That is why you add it to the general government debt. They have to wake up to their responsibility,” he said angrily.
He also questioned why the Securities and Exchange Commission has been quiet about the development since they are responsible for providing investor protection.
“Where is the protection?” he wondered.
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