DIC Unaware Of Debt Payment

The Executive Secretary of the Divestiture Implementation Committee (DIC) has denied knowledge of 34.7 billion old cedis (GH¢3.4 million) paid to Emmanuel Nana Wood, the proprietor of two timber companies, Holex Ghana Limited and Priorities Ghana Limited, all at Akim Oda in the Eastern Region, as judgment debts.

Mr. Asakkua Agambila told the Judgement Debts Commission yesterday that there were no records at the DIC to show how the money was paid to the beneficiary, whose two factories were said to have been confiscated, and which resulted in the payment of the purported amount as judgement debt.

He said that the companies had never been listed for divestiture and that it is the Confiscated Assets Committee, whose Desk or Schedule Officer, who is currently housed at the Osu Castle, who could explain better the circumstances that led to the judgement debt.

“My Lord, the companies have never been forwarded to us (DIC) for divestiture. I would humbly appeal to you to invite the Confiscated Assets Committee to clarify the issue,” Mr. Agambila suggested.

Mr. Justice Yaw Apau, Sole Commissioner, however, read a letter from the Controller and Accountant General’s Department, dated December 29, 2006, directing the Bank of Ghana (BoG) to release 34,758,343,331 billion old cedis for payment as judgement debt to Nana Wood.

He (Justice Apau) could not understand why a copy of the letter from Controller instructing BoG for the release of the funds for payment was given to DIC, which did not play any role in the transaction.

The Commission’s sitting which normally starts at 10:30 am finally started at exactly 11:33 am yesterday following the inability of the Attorney-General’s Department and the Ministry of Finance and Economic Planning (MoFEP) to attend, prompting Justice Apau to bemoan “We have wasted the whole of today”.

Sitting continues today.

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