Ghana Revenue Authority Denies Acquiring US$75 Million Loan Amidst Parliamentary Inquiry Calls
The Ghana Revenue Authority (GRA) has strongly refuted claims made by MP Isaac Adongo that it accessed a US$75 million loan without parliamentary approval. Adongo had called for a parliamentary investigation into GRA’s alleged acquisition of the loan. The GRA, in response, clarified its position, denying the loan acquisition and explaining that it had only sought “no objection” from the Ministry of Finance for a potential loan facility but later decided not to proceed with accessing the funds.
Key Points:
- Denial of Loan Acquisition:
- The GRA categorically denies acquiring any US$75 million loan from any bank, contrary to the claims made by MP Isaac Adongo. The authority asserts that it did not proceed with accessing the loan facility.
- The clarification comes in response to news articles and media interviews raising concerns about GRA’s alleged unauthorized loan acquisition.
- Intention to Secure a Loan Facility:
- In 2022, the GRA had expressed its intention to secure a loan facility for a significant capital expenditure project. As part of the process, the authority sought a “no objection” from the Ministry of Finance.
- Upon receiving the “no objection,” the GRA’s Board and Management reviewed the matter and decided not to proceed with accessing the loan facility. Consequently, the authority did not present the issue to Parliament.
- Decision Not to Access Loan:
- The GRA’s management emphasizes that the decision not to access the loan was made after careful consideration, following discussions between the Board and Management.
- This clarification aims to address the concerns raised by MP Adongo and to dispel any misconceptions about GRA’s financial activities.
- Parliamentary Inquiry Calls:
- MP Isaac Adongo had called on Parliament to investigate GRA for allegedly acquiring a US$75 million loan without proper approval. The GRA’s response challenges the accuracy of these claims and emphasizes its adherence to due processes.
Conclusion: The GRA’s strong denial of acquiring a US$75 million loan and its detailed explanation of the decision-making process surrounding the intended loan facility aim to address concerns and correct any misinformation. The clarification underscores the authority’s commitment to transparency and adherence to financial protocols. Whether this will lead to a parliamentary inquiry remains to be seen.
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