The sale of Merchant Bank to Fortiz Equity Fund could suffer a major setback next week when MPs return for an emergency sitting on the transaction.
Information available to Joy News indicate that the legislators have been recalled from their New Year break by the Speaker of Parliament for sitting on Monday to probe the deal.
More than 80 MPs, Joy News has learnt, have signed a motion to demand a parliamentary inquiry into the deal.
Deputy Minority Leader Dominic Nitiwul, who is spearheading the motion, told Joy News the MPs would investigate allegations of conflict of interest against President Mahama’s brother Ibrahim Mahama and his lawyer Tony Lithur.
They would also consider if there was value for money in the controversial transaction, he said.
According to Mr. Nitiwul, the probe could stall the 90 million Ghana cedis deal. Fortiz is acquiring SSNIT's 90 per cent stake in Merchant Bank.
But Mr Nitiwul thinks "there are too many controversies surrounding the transaction". He also believes the people of Ghana have simply been short-changed in the deal.
Mr Nitiwul indicated that the motion has become necessary claiming the public seems not to be too satisfied by the purchase, making it incumbent on Parliament to exercise its oversight responsibility over the state asset.
He hinted that Parliament would recommend that the deal is discontinued when they are not convinced by details of the transaction.
Before any decision is taken, he said interest groups would be invited by the house as well as invitation of memoranda from the general public.
meanwhile, the Bank of Ghana and SSNIT Board have warned any further delay in the sale could bring Merchant Bank to its knees.
But Organised Labour who represents workers interest on the SSNIT Board says the Bank can turn around its fortunes if all debts owed it are collected and therefore wants the deal suspended.
Latest Stories
-
Papaase residents kick against alleged plans to mine on River Kantango
8 mins -
Paris Olympic hopes hang in the balance as Ghana’s 4×100 relay team drops baton at World Relays
4 hours -
Western Regional House of Chiefs commends Bawumia for his humility and respect for traditional authorities
5 hours -
#JustTurned18: First-time voters critical to deciding 2024 presidential election
6 hours -
Video: EC lied that the cost per voter in 2020 was $7.7; it was $12.5 – Bright Simons
6 hours -
Former IGP passes on
6 hours -
Ejisu by-election: Kwadaso MP gave money to EC officials out of goodwill – Ahiagbah
7 hours -
Millennium City: Land owner breaks silence on fatal shooting of soldier
7 hours -
Photos of 2024 Aboakyer Festival
7 hours -
#JustTurned18: I now have an opportunity to use my thumb to bring someone into power – Excited prospective voters
8 hours -
OSP acted as a whistleblower transferring Cecilia Dapaah’s case to EOCO – Sammy Darko
8 hours -
IMF calls for tariff adjustment for energy sector cost recovery
8 hours -
Samson’s Take: Journalists, block the pretentious idiots
10 hours -
Real Madrid crowned LaLiga champions after Barcelona’s defeat at Girona
10 hours -
Daniel Otting Awuah elected SRC President of Ghana School of Law
11 hours