Audio By Carbonatix
The Judgment Debt Commissioner says he will summon former GNPC boss Tsatsu Tsikata to answer questions relating to the controversial sale of the corporation's drill ship in 2001.
Mr Tsatsu Tsikata was Chief Executive Officer (CEO) of Ghana National Petroleum Corporation (GNPC) prior to the sale of the oil drill ship for $24m to defray a $19.5m judgment debt owed to French bank Societe Generale.
The Sole Commissioner, Justice Yaw Appau is 'frustrated' that no state institution has come out with documents on the sale. The Ministry of Finance and Bank of Ghana have denied knowledge of the sale. The French bank also insists there is no official documents covering the receipt of the money.
The Sole Commissioner believes the ex-GNPC boss can help explain the controversy surrounding the transaction as the judgment debt occurred during his time as CEO.
A deputy Minister of Energy, Kobina Tahir Hammond under the Kufuor administration, who actually sold the ship has also accused Tsatsu Tsikata of engaging in loss-incurring transactions with French bank Societe Generale, resulting in a judgment debt of $47m.
K.T Hammond said the ship was sold to pay off the debt after he successfully re-negotiated the debt from $47m to $19.5m.
Tsatsu Tsikata has denied these allegations and gone further to state government did not do enough due diligence before the sale. The date for his appearance before the Commission is unclear.
Latest Stories
-
Philanthropist, Akonta Felix Akakpo promises 300-second cycle scholarships in Ketu South Municipality
2 minutes -
Banker in court for allegedly stealing GH¢12m, blowing GH¢600K on online betting
5 minutes -
EOCO affidavit clarifies that Gabriel Tanko Atokple was not declared “wanted”
30 minutes -
Fire outbreak at Akosombo Substation disrupts power supply – GRIDCo
42 minutes -
Bank of Ghana fails to publish 2025 financial statements in violation of BoG Act
46 minutes -
CEOs must act boldly as Ghana faces a defining economic moment – McDan
51 minutes -
LPG operators association commends NPA after stakeholder engagement meeting
54 minutes -
OSP power row can be fixed – Asah-Asante counters CSO concerns over court ruling
1 hour -
Sam George flags ‘headucator’ video for possible prosecution under LGBTQ+ Bill
1 hour -
Presec-Legon tops 2025 NSMQ rankings as Prempeh, Mfantsipim follow in EN Analytics Top 100
1 hour -
Photos: GFA unveils new Black Stars Coach Carlos Queiroz
1 hour -
Oforikrom Municipal Assembly prepares candidates for 2026 BECE
2 hours -
From classroom to workshop: TVET students in Accra assemble bicycle
2 hours -
AGI pushes for clearer lending rules as BoG expands credit access
2 hours -
Sefwi Wiawso passport centre records 1,700 applications in explosive four-month start
2 hours