Ken Ofori-Atta, Finance Minister

The Supreme Court has in a unanimous decision dismissed a case filed by the Dynamic Youth Movement of Ghana (DYMOG), challenging the Commission on Human Rights and Administrative Justice’s (CHRAJ) findings relating to government’s issuance of a bond.

The group had contended that the Commission overstepped its limits in the controversial 2.25 billion-dollar Eurobond issued to Franklin Templeton.

DYMOG sued the Commission for clearing the Finance Minister of the allegation of conflict of interest in relation to the issuance of the bond.


The group claimed that CHRAJ, in reviewing a petition on the controversial bond, decided to make some assertions on the matter that are ‘totally’ out of context, thereby infringing the provisions of the 1992 constitution.

DYMOG in its lawsuit contended that the Finance Minister in issuing the $2.25 billion bond to Franklin Templeton placed himself in a conflict of interest situation because one of the directors of the United States-based investment group, Trevor Trefgarne, was also a director of a company, Enterprise Insurance, owned by the Minister.

Among the reliefs the group sought were, “(a) declaration that by going beyond investigations to make a pronouncement (of guilty or otherwise) 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 seven-member panel, comprising Chief Justice Kwasi Anin Yeboah and Justices Dotse, Baffoe Bonnie, Appau, Pwamang, Amegatcher and Prof Kotei, held the case was without merit.

Reasons were not given for the decisions as the court said the full judgement would be available tomorrow.