The National Democratic Congress (NDC) is accusing the government of not seeking accountability for some GHS1.5 billion obtained from electricity consumers by the Power Distribution Service (PDS).
In a press meeting at the party’s headquarters, the National Communications Officer of the NDC, Sammy Gyamfi stated that the President has shown no sign of willingness to prosecute the individuals who were involved in the scandal.
PDS generated these revenue between the period from March and October 2019, according to the opposition party.
According to the opposition party, PDS generated an estimated of GHS1.5 billion revenue between the period of March and October 2019.
“The perpetrators of the PDS scam are still walking the streets of Ghana as free men despite the fact that government itself described the transaction as fraudulent. No arrest or prosecution has taken place till date.”
He insisted that the Vice President, the Finance Minister and Millennium Development Authority (MiDA) “aided, abetted and facilitated this scam on the people of Ghana”.
Sammy Gyamfi further noted, that the NDC will ensure that people “who directly or indirectly played a role in this stinking PDS scam” are investigated and prosecuted.
He also said that Ghanaians can be confident that the NDC “shall ensure that all monies collected by PDS from electricity consumers are properly accounted for and ensure the retrieval of any amounts misappropriated by the company.”
PDS was, in July 2019, found to have presented invalid insurance security for the takeover of ECG assets.
The company was initially expected to supply the ECG with payment securities in the form of either a demand guarantee or a letter of credit issued by a bank.
The insurance policy came about due to difficulties faced in offering a bank guarantee.
PDS appealed to use a demand guarantee issued by an A-rated insurance company.
PDS thus submitted the Payment Securities in the form of demand guarantees issued by a Qatari insurance firm, Al Koot Insurance and Reinsurance, which eventually became the source fraud after it was discovered that there were fabricated letters and forged signatures.
The government also noted that Al Koot did not have the capacity to engage in such a transaction-based on its net worth. The company was also not authorised to issue demand guarantees.
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I’m Deborah Aba Narkoah. I’m an avid reader, writer and public speaker.
