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Gold for oil agreement must go before Parliament – John Mahama

  • SOURCE: Citi Newsroom | qwesa2big
    • POSTED ON: January 31, 2023

    Former President John
    Dramani Mahama is calling on government to put before Parliament, the gold for
    oil agreement for parliamentary scrutiny and approval since the deal is an
    international financial transaction.

    “According to the 1992
    Constitution of Ghana international financial transactions require the approval
    of Parliament,” he stated at a public forum in London, adding “it does not
    matter that the gold for oil deal is a barter trade.”

    Mr. Mahama made this statement
    in response to a question at the forum attended by members of the UK &
    Ireland Chapter of the National Democratic Congress (NDC).

    President Mahama cited
    the Sinohydro agreement that exchanges the country’s bauxite for infrastructure
    development by China as a classic example of batter trade.

    He further explained that
    if the Sinohydro agreement was a barter deal and went to Parliament for
    approval because it is an international financial transaction, why not the
    current deal in which Ghana’s gold is being exchanged for oil.

    The former President noted that the deal is currently
    shrouded in complete secrecy with only government officials who are involved in
    the transaction knowing the details, describing the development as

    “There is a complete lack of transparency about the
    transaction, and that is one of the major problems with this government. They
    hide everything and do as they please”, he noted.

    Mr. Mahama believes with parliamentary scrutiny,
    Ghanaians will have value for money in the gold-for-oil deal and also know the
    beneficial owners behind the transaction.

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