Earlier, Dr Bawumia said the same thing in his typical attempt to claim credit for anything good and dissociate from anything bad. (Recall his abandonment of the Akufo-Addo-led government’s policies on taxes, debt restructuring, surging inflation, corruption, arrogance of power and lack of ministerial reshuffle earlier this year and his continuous claiming of credit for so-called digital projects).

In all of this, two key questions worth asking Dr Bawumia or Dr Amin even before we go into the details is ‘If reserves alone can work this magic, why was the cedi hovering around GHS17 to one US dollar in 2024 when the Bank of Ghana had the strong gold reserves they alluded to at the time Dr Bawumia was the Head of the Economic Management Team and Dr Amin the Finance Minister? Also, what has suddenly happened to the infamous external factors (Russia-Ukraine war, still going on and geopolitical tensions, now worse than before) in the macroeconomic mix?
Their attempt to associate with the good, though typical of them, is not only disingenuous but lacks legs and falls flat in the face of reality and existing facts. The following facts speak to this:

1. Macroeconomic stability is not the result of a single factor: The current positive economic indicators we are witnessing are the direct result of prudent macroeconomic management of the fiscals by the Ministry of Finance and the stern monetary stance adopted by the Bank of Ghana. While we acknowledge the contribution of our international reserves, it is important to clarify that the positive outcomes stem from a comprehensive economic strategy rather than any single inherited factor.

The stability of the cedi reflects President Mahama’s government’s commitment to fiscal discipline, effective monetary policy implementation, and strategic economic interventions that engender confidence in the government and the economy. The Bank of Ghana’s monetary policy stance has been instrumental in achieving this stability through carefully calibrated interest rate decisions and liquidity management. The GoldBod program represents an innovative approach to currency management, leveraging Ghana’s natural resources to support our currency. This strategic initiative has been implemented with careful attention to market dynamics and has proven effective in achieving currency stability

The declining inflation rate, though gradual, demonstrates the effectiveness of our comprehensive anti-inflationary measures. These include not only monetary tightening but also strategic interventions in food supply chains and energy markets to address cost-push factors. It is also the result of growing investor confidence in the leadership of the John Mahama-led government, resulting in investors committing more funding to the economy. This is opposed to high rates of divestments of portfolios that we saw under the Akufo-Addo-Bawumia administration, which increased the pressure on the cedi.

It is instructive to note that interest rates are responding to these improved fundamentals, creating a more conducive environment for business growth and investment. This is not merely coincidental but the result of deliberate policy actions designed to create a stable macroeconomic environment.

1. Reduced government domestic borrowing easing crowding-out effects: As Dr Bawumia and Amin would know, strong reserve build-up is nothing unless it is totally linked with prudent fiscal management anchored by transparency and discipline. Since President Maham took office on January 7, 2025, fiscal consolidation efforts have taken center stage, reducing the government’s reliance on domestic borrowing and freeing up credit for the private sector. This has eased the crowding-out effect that previously drove up interest rates as the government and private sector competed for limited domestic financial resources. Indeed, international media had accused the government in 2024 of undertaking shady borrowing where rates were unfairly determined, erasing the uniformity rule required by investors in the domestic debt market. These have become a thing of the past, strengthening confidence and certainty. Also, the government has demonstrated a commitment to structural economic reforms, including in the energy sector, public financial management, and state-owned enterprises. The launch of the Code of Conduct for appointees is a huge confidence booster in the economy, helping to assure investors that backdoor tactics will not be entertained by the President in their conduct with appointees. These consistent policy initiations and implementation of the reforms have built credibility with both domestic and international stakeholders.
2. Improved export performance, particularly in the gold and cocoa sectors, Ghana’s traditional export sectors have shown remarkable resilience and growth. Gold exports have benefited from elevated global prices and increased production volumes, while cocoa exports have been bolstered by improved yields and favourable international market conditions. The speedy and prudent rollout of the GoldBod has strengthened confidence in the government’s ability to curb the gold smuggling menace, resulting in more miners passing their produce through the formal channels and increasing Ghana’s export revenues. These have increased foreign exchange inflows, supporting the cedi’s stability.
3. Enhanced transparency in foreign exchange market operations. The Bank of Ghana has significantly improved the transparency of its foreign exchange operations through regular publications of intervention data, forward guidance on policy intentions, and clear communication with market participants. The bank’s Monetary Policy Committee has also injected more credibility, transparency and dynamism into its operations through the pre-meeting conference and the publication of voting decisions by members. These are novel but global standards, further anchoring investor confidence in a government that is fiscally prudent and citizen-focused. These have reduced uncertainty and speculation in the forex market, contributing to more orderly trading conditions.
4. Improved sovereign risk profile following economic stabilisation: Following the prudent management of the economy, the IMF, World Bank, and rating agencies have acknowledged Ghana’s progress in economic management. These positive external validations have reinforced market confidence in the country’s economic trajectory and policy framework. On May 9, S&P Global Ratings raised its long- and short-term foreign currency sovereign credit ratings on Ghana to ‘CCC+/C’ from ‘SD/SD’ – the junk status that Akufo-Addo and Bawumia, with my brother, Dr Amin Adam, as Finance Minister, left us. At the same time, the international ratings agency affirmed its ‘CCC+’ issue ratings on Ghana’s debt and further affirmed their ‘CCC+/C’ long- and short-term local currency ratings on Ghana, citing growing confidence in the economy and its managers, declining debt metrics and a clear path to debt sustainability anchored on monetary and fiscal prudence. This is unprecedented and has reduced the risk premium demanded on government treasuries, allowing for lower borrowing costs that eventually feed into the broader economy.
5. Gradual normalisation of yield curve and easing inflation: The result of all these efforts is the unprecedented stability in the cedi and the normalisation of the yield curve, helping anchor the disinflation on a sustainable path. These are beginning to translate into lower prices for the ordinary Ghanaian, just as President Mahama promised them during his campaign.

6. Conclusion: While I do not expect the NPP to praise the government, it is untenable to have them try to claim credit for the success. We all still remember how they tried very hard to associate the surging inflation, falling cedi and ballooning debts to so-called external factors – the Russia-Ukraine war, COVID-19 and the general geopolitics. Instructively, these same factors are in full swing, if not elevated yet, the economic indices are trending downwards. This is a clear case of leadership being the cause, and all other things are effects. President Mahama is clear in what he wants, and he is delivering that to the Ghanaian people, with whom he has a pledge. He will not be distracted by the distractions from people whose records are haircuts, obnoxious taxes and neck-breaking inflation rates.

In a strongly worded press statement released on Wednesday, 22 May, Adongo dismissed recent claims by former Finance Minister Dr Mohammed Amin Adam and 2024 NPP flagbearer Dr Mahamudu Bawumia, who suggested that current macroeconomic gains are the result of gold reserves built under the previous NPP government.

Describing such assertions as “disingenuous” and “devoid of factual basis,” Adongo insisted that the country’s improving economic indicators are not the product of inherited reserves but rather “the result of deliberate, disciplined, and coordinated economic policy under the Mahama administration.”

“If reserves alone were the answer, why was the cedi hovering around GHS17 to the dollar in 2024 when Dr Bawumia and Dr Amin were managing the economy with those same reserves?” Adongo questioned. “What has suddenly changed with the same external factors—the Russia-Ukraine war and worsening geopolitical tensions still ongoing?”

He emphasised that current macroeconomic stability has been achieved through a comprehensive strategy involving strict fiscal discipline, a credible monetary policy stance by the Bank of Ghana, and bold structural reforms.

“This is not a fluke,” Adongo stated. “We are seeing the results of President Mahama’s focus on investor confidence, transparency, and economic credibility. From curbing government borrowing to stabilising the exchange rate and taming inflation, every step has been intentional.”

Adongo praised the innovative GoldBod programme introduced by the Mahama administration as a game-changer in curbing gold smuggling and boosting foreign exchange inflows.

“By encouraging formalisation in the gold sector, we’ve increased our export revenues, strengthened the cedi, and shown how local resources can be leveraged for macroeconomic stability,” he said.

He also pointed to reduced government borrowing, improved transparency in the forex market, and enhanced investor communication by the Bank of Ghana as key contributors to recent gains.

Interest rates are falling. Inflation is coming down. The yield curve is normalising. All of these are fruits of the trust Ghana’s business community and development partners are placing in President Mahama’s leadership,” Adongo said.

Highlighting the country’s improved sovereign risk ratings, Adongo noted S&P Global’s recent upgrade of Ghana’s credit status as a reflection of the Mahama administration’s credibility.

“S&P didn’t upgrade us because of gold reserves. They did so because they see a clear path to debt sustainability, backed by disciplined fiscal management,” he argued.

In closing, the Bolgatanga Central MP took aim at what he called the NPP’s pattern of claiming credit in good times while blaming external factors in bad times.

“When the economy was crashing, they blamed COVID, Ukraine, and everything else. Now that it’s recovering, they want the credit. But the Ghanaian people are discerning. They know leadership is the cause, and all other things are effects,” he added.

Adongo reaffirmed that President Mahama remains focused on his pledge to Ghanaians, undistracted by “those whose records are defined by haircuts, obnoxious taxes, and neck-breaking inflation.”

This key position oversees the country’s fiscal policies and economic management, and Mr. Adongo—known for his firm stance on financial matters—is expected to bring heightened scrutiny to government economic decisions.

As part of the reshuffle, Abena Osei-Asare has been named Chairperson of the Public Accounts Committee (PAC), replacing James Avedzi, the former MP for Ketu North.

The PAC plays a crucial role in auditing government expenditures and ensuring accountability in the use of public funds.

These leadership changes, along with other committee adjustments, aim to strengthen legislative oversight and promote transparency in public administration.

ALSO READ:

How Justice Kulendi inspired Oppong Nkrumah’s law career [Video]

Napo’s wife launches initiative to promote mental wellbeing and financial literacy

His comments come in response to concerns from some of his constituents, who believe he was overlooked for a ministerial position by President John Dramani Mahama.

Some supporters have even argued that Mr. Adongo should have been made Finance Minister instead of Dr. Ato Forson.

Speaking on Asempa FM’s Ekosii Sen on Thursday, February 27, Mr. Adongo acknowledged Dr. Ato Forson’s seniority and experience in financial matters within Parliament.

“In the issue of Finance Minister proper, since I came to Parliament, I’ve always been behind Ato Forson,” he stated.

He explained that when he first entered Parliament, Dr. Ato Forson was already the Ranking Member on the Finance Committee while he was only a member.

“In my second term, they promoted me to be Deputy Ranking, and he was still the Ranking Member. Then, when there was a reshuffle in Parliament, he was made the Leader of the Caucus, and I was made the Ranking Member of the Finance Committee,” he added.

Mr. Adongo further emphasised Forson’s previous experience as a Deputy Minister of Finance, which he said made him a strong candidate for the ministerial role.

“He has also been a Deputy Minister of Finance before. So it was really a tall ask,” he admitted. By acknowledging Forson’s qualifications, Adongo suggested that his appointment was a logical decision based on experience and seniority.

He therefore urged his constituents to remain patient and allow the political process to unfold in due course.

“My time will come,” he assured them, emphasising that he remains committed to serving both his constituency and the country.

Mr. Adongo’s remarks were aimed at calming tensions and reinforcing the importance of structured political progression in governance.

ALSO READ:

I am not an economist – Isaac Adongo clarifies appointment to…

Isaac Adongo breaks silence on Ministerial ‘snub’ [Listen]

Mr. Adongo criticized the Central Bank’s current leadership, led by Governor Dr. Ernest Addison, for failing to control inflation and stabilize the exchange rate.

During an interview with Woezor TV on Monday, October 21, Adongo described the Bank of Ghana as “not fit for purpose,” emphasising the need for Ghanaians to vote for John Mahama to restore economic stability.

“Inflation, when prices are going up; the medicine you use is the herbs that you harvest from that tree called the Central Bank. When your exchange rate is struggling and your external vulnerability is mounting, again you use the herbs from the central bank.

“The third aliment is that the central bank helps to deal with the interest rates. So you have a tree that is fit for purpose in dealing with all these.

“If that tree itself is sick, how does it help you to treat the sickness if its efficacy is required? So you need to reset the herbalist. The reason why we’re having inflation all over the place, interest rates all over the place, and exchange rates all over the place is because the vehicle for dealing with price development itself is not fit for purpose.

“Normally, in monetary terms, we say the BoG is monetary insolvent. The BoG is currently monetary insolvent. In order words, cannot cure this ailment without drinking the same poison that led it to die,” Isaac Adongo stated.

ALSO READ:

NDC hints of military deployment to Parliament on Tuesday

Dangerous precedent by MPs could paralyze Parliament – ACEPA

We won’t be involved in any ‘showdown’ tomorrow – NPP Caucus

Parliament by majority decision before rising passed the Emissions Levy to impose GH¢100 annual payments on all internal combustion engines including motorcycles.

Speaking during the consideration of the levy ranking member for the Finance Committee Isaac Adongo disclosed the GH¢540 million government is seeking to raise from the levy will be channeled into other things rather than fighting climate change.

The Bolgatanga Central MP argued government has ran out of ideas in raising revenue thus the introduction of what he calls the Smoke Tax. He questioned why government had kept MPs that late just to impose further hardships on Ghanaians.

“Mr. Speaker, quite clearly this government has fallen short of taxing everything. For those of you who speak Akan,” wunnim Nwusie” (Do you know smoke), “Nwusie” (smoke),”Nwusie” (smoke) tax, at 2am you are imposing taxes on smoke. “Nwusie” (smoke) tax at 2am “aabah”.”

“It appears, you are now struggling to find something to impose a tax on. Mr. Speaker, every available excuse has been exploited, now they say that if you are driving an internal combustion engine, you will pay GH¢100 and this will yield about GH¢540 million.

“But shockingly Mr. Speaker, this money which is supposed to assist us deal with climate change does not have any policy orientation whatsoever to tackle climate change. If our emphasis is really to deal with climate change, then we expect that this money should be invested in activities that will lead to find the solution to climate change, but it is not.”

The Bolgatanga Central MP related to the introduction of the Sanitation Levy which according to him has not seen proceeds going into the sector to predict the Emission Levy will suffer the same fate.

“We found an excuse with “borla” to tax sanitation, it didn’t go into sanitation. Now we are taxing internal combustion engine to deal with climate change but the money is not going into climate change; so what exactly are we taxing that money to do.” Adongo queried.

Mr. Adongo further questioned why such a levy is being introduced when government had not put in measures to make use electric vehicles more convenient. According to him the system is not yet wired to be accommodating to electric vehicles arguing the government is putting the cart before the horse with the introduction of such a Levy.

“For you to buy an electric vehicle into Ghana today, you will need to reconfigure the electrical systems in your house to charge that vehicle”

Minister of State at the Finance Ministry Dr. Mohammed Amin Adams however argued such a levy is essential towards the fight against climate change.

According to him, the levy and the legislation are meant to create the enabling environment for investment from the private sector in making the country more electric vehicles friendly.

Parliament on the night of rising for the Christmas break passed 5 tax bills including the Emissions Levy. The others were Stamp Duty Amendment Bill, 2023, Excise Duty Amendment Bill, 2023, Value Added Tax Amendment Bill, 2023 and Exemptions Amendment Bill, 2023.

The House also passed the Appropriation Bill, 2023 to give the legal backing to government to spend an amount not exceeding two hundred and fifty nine billion, fifty-two million, four hundred and seventy-four thousand, seven hundred and fifty Ghana cedis.

An attempt by the minority to scuttle the approval of the taxes by calling for a headcount was thwarted by a 134:137 defeat to the majority.

Kadjebi DCE nearly assaulted by angry youth over death of 2…NPP closes nomination for parliamentary primaries

The deputy ranking member of the Finance Committee of Parliament in an interview on Dreamz FM in Bolgatanga said the meeting was ahead of a major stakeholder engagement with a foreign investor in Washington DC.

The invitation, Hon. Adongo said was strange since Mr. Ofori-Atta has refused to engage the Minority in Parliament on pertinent issues on the economy.

ALSO READ:

• Abena Korkor breaks internet with naked photos
• Twerking not part of ‘borborbor’ – Chief fumes
• Veteran actor passes on [Photos]

“When we went to Washington he (Ken Ofori-Atta) invited us to a meeting at Renaissance Hotel in Washington, I refused to attend the meeting. If you really think that I am a player and an important key stakeholder in the governance of your finances, that is not where to do it. It just didn’t make sense to me and in any case, it was not he the finance minister who brought me to Washington” the Bolga Central MP stated.

Hon Adongo said it would have been unethical to accept Ken Ofori-Atta’s invitation to meet the investor.

The investigator, Detective Chief Inspector Thomas Prempeh Mercer, testified that Agongo, in his statement to the police, admitted giving the money to Dr Opuni to help him (Opuni) cater for the needy.

Chief Inspector Mercer, who is the seventh prosecution witness, was answering questions during cross-examination by lawyer for Dr Opuni, Samuel Cudjoe.

Counsel wanted the witness to agree with him that Dr Opuni never received any GH¢25,000 from Agongo.

The witness, however, disagreed with counsel.

Charges

Dr Opuni was the CEO of the COCOBOD between November 2013 and January 2017, while Agongo is the CEO of Agricult Ghana Limited, an agrochemicals company.

The two were dragged to court by the Attorney-General n March 2017 on 27 charges for allegedly engaging in illegalities in series of fertiliser transactions, which the A-G says caused a financial loss of GH¢271.3 million to the state.

Agongo is alleged to have used fraudulent means to sell substandard fertiliser to the COCOBOD for onward distribution to cocoa farmers, while Dr Opuni is accused of facilitating the act by allowing Agongo’s products not to be tested and certified as required by law.

The two accused persons have pleaded not guilty to all the 27 charges, and are on self-recognisance bail in the sum of GH¢300,000.00 each.

RELATED:

• Opuni trial: Court adjourns case over unserved documents

• Opuni Trial: Witness names farmers who drank liquid fertiliser

Bribery allegations

The GH¢25,000 bribe allegedly paid by Agongo to Dr Opuni is part of the accusations levelled by the A-G against the two.

It is based on the bribery allegation that the A-G slapped Dr Opuni with corruption of a public officer, and Agongo with bribing of a public officer, as part of the 27 charges.

During cross examination, Mr Cudjoe sought to punch holes in the testimony of Detective Chief Inspector Mercer regarding the bribery allegation.

Excerpts of cross-examination

Mr Cudjoe: A1 (Opuni) in his statement on November 28, 2017 informed you that the GH¢25,000 that was paid into his account by A2 (Agongo) was his (Opuni’s) own money which he gave to A2 to pay into his account.

Chief Inspector Mercer: That is not so. A2 (Agongo) wrote in his statement that the GH¢25,000 that he paid into A1 (Opuni’s) Ecobank account on October 10, 2014, was money he (Agongo) gave A1 (Opuni) to support him take care of needy children.

Mr Cudjoe: He never said that. I put it to you that A2 (Agongo) never stated so, and the first explanation was that he could not readily remember what the GH¢25,000 was for.

Chief Inspector Mercer: My Lord, that is not so. Immediately after this statement that he did not remember, he added that ‘I gave the money to him to take care of needy children.’

Mr Cudjoe: In fact, in this statement, he stated categorically that “I cannot remember the exact purpose of the payment, but I vaguely recall paying him some money to cater for needy children he cares for”.

Chief Inspector Mercer: That is exactly what I said.

Mr Cudjoe: At the last adjourned date when you were asked when you interrogated A1 (Opuni) as to the statement of A2 (Agongo), you said he informed you that he did not have any NGO to cater for needy children.

Chief Inspector Mercer: That is so.

The hearing continues today at the court, presided over by Justice Clemence Honyenuga, a Justice of the Supreme Court, sitting as a High Court judge.

The legislator believes the development is of interest to his pending case against the GAT and the government.

Adongo sued the two for using what he described as an illegal method to invest in five indigenous banks.

Added to the suit is the National Trust Holding Company (NTHC), the nominee shareholder of GAT, a special purpose vehicle that was incorporated in December 2018 to help the ADB Bank, the National Investment Bank (NIB) and three private banks to recapitalise to GH¢400 million.

ALSO: I will construct bridge over Oti – Mahama

The fund was designed to rely on private sector funding.

Addressing a Minority press conference earlier on Tuesday, Mr. Adongo noted that the GH¢800 million from government to GAT constitutes a breach of the law establishing the latter.

Speaking to Evans Mensah on PM Express on JoyNews the Bolgatanga Central MP noted that he will notify the court on the issue and also revise his suit if the need be.

The legislator believes something untoward is happening with the management of GAT and seeks to unravel same. He said GAT could be a maneuver for private persons to seize control of the two state-owned banks.

ALSO: Xenophobic attacks: Pray for us – Ghana’s High Commission appeals

Other concerns over GAT

Former President John Mahama also raised concerns over GAT in a Facebook live interaction last week.

Mr. Mahama described the intervention as a bailout programme, saying the government must reveal those who stand to benefit from the arrangement.

also: AGRF returns to Ghana to leverage digital revolution for an inclusive agricultural transformation in Africa

“We call on the Akufo-Addo government to lift the veil on the beneficial shareholders of the Ghana Amalgamated Trust and to curb its supposed predatory bailout assault on the remaining banks which include state-owned banks,” Mahama said.

Source: Myjoyonline.com

A Member of Parliament’s Finance Committee, Isaac Adongo, has said that the Vice President, Dr Mahamudu Bawumia, is limited in his appreciation of the issues following the clean-up exercise of the financial sector by the Bank of Ghana (BoG).

He is of the firm conviction that the reforms that have seen the revocation of the licenses of 420 financial institutions in the last two years were deliberately engineered by the government to collapse some financial institutions.

According to him, the fact that Dr Bawumia once served as a Deputy Governor of the BoG, does not necessarily mean he is good at technical financial matters.

ALSO: Let’s protect the police to protect us – Bawumia

“Dr Bawumia should know that his government is doing nothing to salvage the mess in the financial sector. The mere fact that a person worked at BoG does not mean he knows Ghana’s financial problems.

“The challenge we are facing now is a technical financial matter and Bawumia has no knowledge about it. What he knows best is the re-denomination of the cedi and even in school, he majored in a programme on the 1992 election. What does that got to do with the banks? Bawumia is just not a technical financial person,” he told Accra based Okay FM, monitored by Adomonline.com.

ALSO: Video: CSOs storm Jubilee House over delay in passage of Affirmative Action bill

Dr Bawumia has said that the mode of clean-up by the Central Bank is the best considering the nature of the rot.

ALSO: Audio: Sam George has too many enemies in his constituency – Allotey Jacobs

Source: Adomonline.com | Dorcas Abedu-Kennedy

The Member of Parliament (MP) for Bolgatanga Central, Isaac Adongo has expressed disappointment in the Mid-year Budget Review presented by Finance Minister, Ken Ofori-Atta.

He is, thus, asking the government, especially the Finance Minister to, as a matter of urgency, apologise to Ghanaians for government’s u-turn on the Luxury Vehicle Tax.

“We remember you announced to us that we were going to pay for luxury vehicle, so it’s shocking that this government sees nothing wrong with making sudden u-turn. They should apologise to us for such a huge embarrassment,” he said.

Mr Adongo was speaking on Asempa FM’s Ekosi Sen show, Monday.

The Finance Minister, Ken Ofori-Atta also revealed that Ghana’s debt had ballooned to GH¢ 204 billion.

The announcement confirmed the prediction of the Minority in Parliament, who had earlier cautioned about the skyrocketing figures of Ghana’s debt, a situation they described as worrying.

Sharing his thoughts on the debt situation, the Bolgatanga Central MP said the Finance Minister is only digging his own grave to hang himself for running a fiscal deficit.

He described the figure as cooked number, adding that it is reckless and does not reflect what government is actually spending.

“I can never see any minister or government that will spend such amount for a short period. They have just cooked those figures. They can’t even show a pin of this reckless expenditure,” he stated.

Source: Adomonline.com | Dorcas Abedu-Kennedy

The efficacy of the fertilizer has been questioned by state prosecutors in the case in which Dr Opuni is charged with causing financial loss to the state in the award of the fertilizer contract to businessman Seidu Agongo.

The state’s first witness, Dr Franklin Manu Amoah who is the Executive Director of the Cocoa Research Institute of Ghana(CRIG) had earlier told the court, the fertilizer wasn’t tested on matured plants as was required.

READ ALSO: 8-year-old girl’s anus ruptured after assault [Photos]

He explained this was due to a directive from then COCOBOD boss Dr Opuni asked for approval of the fertilizers.

Dr Manu Amoah was on Monday cross-examined by lead counsel for Dr Opuni, Samuel Codjoe. Mr Codjoe insisted the Cocoa Health and Extension Division (CHED), a wing of COCOBOD that interacted with farmers had captured in its report that farmers were satisfied with the fertilizer.

He also confronted Dr Amoah with his witness statement given by the Economic and Organized Crime Office (EOCO) in which he reiterated the head of CHED Dr Francis Baah’s views that reports on the fertilizer use were positive.

READ ALSO: Asiedu Nketia defends Akamba’s ‘inciting’ video [Audio]

Dr Amoah disagreed with this assertion. He told the court the views of CHED could not be the basis for a renewal of a certificate of a fertilizer.

He further stated that his reference to reports of the fertilizer’s efficacy was simply a repetition of what Dr Francis Baah told the current government’s transition team that dealt with issues relating to COCOBOD.

Dr Amoah argued it’s the Cocoa Research Institute that is responsible for testing fertilizer and getting responses from farmers on its effectiveness.

READ ALSO: Cowbell in the Sky ends for celebrities; public next to take turn

The survey conducted by CHED Dr Amoah maintained is for consumption of its management while that of CRIG will determine whether a chemical should be accepted for renewal or not.

The former COCOBOD CEO and CEO of Agricult Ghana Limited Seidu Agongo are facing 27 charges, including defrauding by false pretence, wilfully causing financial loss to the state, money laundering, corruption by a public officer and contravention of the Public Procurement Act.

They have pleaded not guilty and have been granted a GH¢300,000.00 each self-recognisance bail by the court.

Member of Parliament for Bolgatanga Central, Isaac Adongo, has walked out of a parliamentary probe into the collapse of 7 local banks.

His walk-out was over the failure of the committee to furnish members with all the records of the transaction before the hearing began.

READ ALSO: Check out why Nkwanta South MCE can’t sleep

Governor of Bank of Ghana Dr Ernest Addison and other central bank officials are currently before the committee answering questions.

Adongo argues the committee ought to be given all necessary documentation before proper sitting can start.

Isaac Adongo who is a member on the Finance Committee said the executive summaries provided by the BoG aren’t enough for a thorough investigation.

He’s accusing the committee of attempts to rubber stamp the Central Bank decision.

READ ALSO: Obengfo doctor saves dying man in court

“I just walked. Listen, this is a rubber stamp process, they will deliver no value and I am not willing to be part of it,” Mr Adongo told the media immediately he stepped out of the meeting room on Wednesday.

He said at a forum organised by the Progressive Alliance Media Communicators on the banking crisis that although the challenges facing banks were encompassing, the government and the Bank of Ghana had decided to vilify directors and shareholders in order to escape blame.

ALSO READ: My career hasn’t dipped – Samini

This posture, he said was unfortunate and amounts to stifling Ghanaian entrepreneurship.

As a result, he said a National Democratic Congress (NDC) government will not hesitate to return assets of the collapsed banks to their owners “unless they are found to have committed some tangible illegalities.”

As a result, he said shareholders of the seven collapsed banks – UT and Capital banks in August 2017 and the Beige, Royal, Construction, Sovereign and uniBank banks in August 2018 – and all persons affected by the action should be assured of fair treatment when the party comes to power.

ALSO READ: Mahama’s comeback like elementary school vacation party – Ampaw [Audio]

He mentioned the government’s indebtedness to the collapsed banks, the involvement of current directors of Consolidated Bank with the now defunct banks and the choice of collapse over bailout as issues that raise flags about the genuineness of the decision.

According to him, Mr Agyarko was sacked for failing to give President Akufo-Addo his part of the booty in the controversial AMERI deal.

The Bolga Central MP made the comment on Asempa FM’s Ekosii Sen programme Tuesday while reacting to the dismissal of Boakye Agyarko.

ALSO READ: Menzgold CEO calls BoG’s bluff; calls caution a joke 

President Akufo-Addo fired the Energy Minister, Boakye Agyarko, on Monday, August 6, 2018, but did not state reasons.

The letter signed by Director of Communications Eugene Arhin said the Minister of Lands and Natural Resources, Peter John Amewu will act temporarily until a substantive decision is made.

Though no reason has been given for his sack, many are linking Boakye Agyarko’s sack to the revised AMERI deal which many described as a rip-off of taxpayers money.

ALSO READ: Boakye Agyarko speaks for the first time after sack

But Hon. Isaac Adongo on Ekosii Sen said President Akufo-Addo sacked the Energy Minister just to save himself.

He claimed the President would have been the biggest beneficiary if Parliament had approved the revised AMERI deal.

“Akufo-Addo sacked Agyarko just to divert attention. Is it that he [Agyarko did not give him [Nana] his part of the booty,” he stated.

ALSO READ: AMERI deal: Disband mafia cartel at presidency – Allotey Jacobs to President [Audio]

Hon Adongo said until President Akufo-Addo comes clean on why he sacked Boakye Agyarko, the create, loot and share tag will be an albatross around his neck.

National Democratic Congress (NDC) Member of Parliament for Bongo in the Upper East Region, says he was forced to leave late former Vice-President Amissah Arthur’s burial service, abruptly to oppose the reviewed Ameri deal in parliament.

Edward Bawa says he was prompted on what he describes as a ‘bad deal’ being presented to the house.

READ: Kofi Adams chickens out of NDC National Organiser contest [Audio]

“We were prompted that the AMERI deal was a bad one and so they intentionally waited till Amissah Arthur’s burial before tabling it so I was forced to run to the parliament house to make sure that the bad deal was not reviewed,” he said.

Per the re-negotiated Novation and Amendment Agreement, Ameri Energy would have been bought out and handed over to Mytilineos International Trading Company for 15 years.

Per that deal, Mytilineos offered to pay Ameri Energy off with $52,160,560, while the government of Ghana would have topped it up with $39 million.

The deal was, however, cancelled by President Akufo-Addo, even though he had earlier approved it through an Executive Order while it pended parliamentary nod.

ALSO: GMA suspends strike

But Mr Bawa questioned Energy Minister, Boakye Agyarko’s continued stay in office, if, indeed, he ‘misled’ the President into granting executive approval to the agreement.

He believes it was a calculated attempt by the government to ‘loot’ from the state.