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GNPC must be investigated – Franklin Cudjoe

Executive Director of the IMANI Ghana, Franklin Cudjoe has called on President John Mahama to launch investigations into the management of the Ghana National Petroleum Corporation (GNPC) in connection with “PetroSA’s alleged payment of bribes (some US$20m) in its recent purchase of Sabre and Gas Holding Ltd in Ghana.”

According to him, the investigations will be in the best interest of the country “before we are disgraced as a nation and damaged as a trustworthy investment destination.”

Below is the full statement from IMANI Ghana
Can President Mahama help demystify the opaquely managed Ghana National Petroleum Corporation once and for all? There is a huge Corruption manhunt under way in South Africa involving PetroSA’s alleged payment of bribes (some US$20m ) in its recent purchase of Sabre and Gas Holding Ltd in Ghana.

GNPC as market participant and regulator at the same time can be worrying. Did GNPC receive any of these corrupt funds?, how much? It is in the interest of the Country to begin investigations as soon as possible on before we are disgraced as a nation and damaged as a trustworthy investment destination.

Perhaps the GIPC would be interested in this too. Crucially would any of the press houses and business journalists we believe we have take this up?

Below are the details

“South Africa’s police anti-corruption unit said on Friday it had opened an investigation at state oil company PetroSA, which reported “deviations” in financial procedures that a newspaper said involved millions of dollars of irregular payments.”

In an investigative report published on Friday, the weekly Mail & Guardian questioned payments made when PetroSA last year secured crude oil acreage in Ghana through the acquisition of Sabre Oil and Gas Holding Ltd.

“In the process of increasing PetroSA’s chances of successfully closing these deals, unfortunately some deviations from our normal procurement processes have occurred,” the company said.

Source: Citifmonline

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