Ghana risks being listed as money laundering destination with Agyapa deal – Minority warns

Ajumako-Enyan-Esiam Member of Parliament (MP), Casiel Ato Forson

The Minority in Parliament says Ghana risks being blacklisted by international organisations as a money-laundering destination if the controversial Agyapa deal is not cancelled.

Ajumako-Enyan-Esiam Member of Parliament (MP), Casiel Ato Forson has described the decision to incorporate the Agyapa Royalties at Jersey as a clear agenda to hide the “beneficial owners” of the company, an action he said is not good for Ghana’s image.

“The government is trying to hide beneficial owners [and because of that] Ghana risks being listed as money laundering destination,” the lawmaker said during a press briefing organised by the National Democratic Congress (NDC) on Tuesday.

The decision by the governing New Patriotic Party (NPP) to incorporate Agyapa Royalties as a special purpose vehicle (SPV) to secure about $1billion to finance infrastructural projects has generated a heated debate.

A total of 15 other civil society organisations have called for the suspension of the agreement until all necessary documents have been disclosed.

The minority has accused the government of hiding key information from Ghanaians by incorporating the company in Jersey, a tax haven.

Mr Ato Forson said the high earned reputation of Ghana risks being destroyed if the deal is not suspended immediately by the government.

“Our understanding is that we are not going to respect the agreement,” the legislator said.

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