I have no details about the $2bn bond – AG tells Adawudu

Attorney General and Minister of Justice, Gloria Akuffo, has responded to a call by private legal practitioner Victor Kojoga Adawudu for details regarding the $2.25 billion bond issued by the Government of Ghana about two months ago.

“I acknowledge receipt of your letter bearing reference number LL/17/26 and dated 4th May, 2017 on the above subject matter. Please be informed that the information being sought per your letter is not available to me and I am therefore unable to respond to the questions posed therein,” the AG’s office responded.

A member of the NDC legal team Kojoga Adawudu, wrote to the AG for details about the bond after NDC party accused Finance Minister Ken Ofori-Atta of conflict of interest in the transaction.

Mr Adawudu in a four-page letter to the AG said he was exercising his right in Article 21(F) of the 1992 Constitution which states that: “All persons shall have the right to information, subject to such qualifications and laws as are necessary in a democratic society.” “...The Constitution of Ghana is predicated on the tripod of transparency, probity and accountability, and as a citizen of Ghana, I am concerned about the apparent opaqueness of the processes towards the issuance of the bonds,” the letter stated.

Below are some of the information requested by Mr Adawudu:

(a) Please provide the date and the exact time all the Bond Transactions were opened or announced to investors to participate;

(b) How was each of the transactions communicated to investors?

(c) Before the official communication to investors of the opening of the Bonds did the Ministry or any of its officials directly or indirectly discuss any aspects of the Bonds with any of the investors?

(d) The date and time the Bond Transactions closed;

(e) The date and time the summary of issuance was made known to investors and the public.

(f) Please confirm the coupon prices for all the Bonds issued;

(g) Whether or not there was any roadshow towards the issuance of the Bonds;

(h) If yes, where did to take place, and what was the duration of the roadshow.