Government says a definite action would be taken by close of this week over allegations that the President had misappropriated $5.5 billion of an unnamed finance company in a botched oil business. “Before this week ends, you are going to hear an official statement of the direction the president has taken on this matter,” Deputy Information Minister told Joy news’ Steven Anti in an interview. The Weekly Standard newspaper, edited by Victor Smith, broke the story, and accused the President of paying $4 billion of the alleged debt but was dragged to an international arbitration in the Hague after failing to pay the remaining $1.5 billion. The accusation was later corroborated by Alban Bagbin, Minority Leader in Parliament on an Accra radio station, and insisted an impeachment process would begin immediately plans were firmed up. Incensed by the accusation, the President through his Press Secretary Andrew Awuni issued a 14-day ultimatum for the accusers to substantiate the allegations or retract and apologise, failing which the appropriate action would be taken. The ultimatum expired on Wednesday and without any word or action from the President, widespread perceptions hold that the ultimatum was nothing but an empty threat. However, Deputy Information Minister Frank Agyakum maintained the “ultimatum was not made in vain.” Asked whether the President would take the matter to the National Media Commission, Agyakum noted there were several options opened for redress, but maintained it was the decision of the President’s legal team. According to him, the Weekly Standard newspaper, the originators of the allegations will also bare the brunt of any sanctions even though the ultimatum was directed at the opposition National Democratic Congress. Meanwhile a media practitioner Dr. Arkofa Segbefia has questioned why the President would want to pursue the case in court when he made similar allegations against ex-President Rawlings. “The President should do an introspection.When he alleged the ex-President Rawlings had gone to solicit funds to destabilise the country, did he provide any evidence, and did any body take him to court?” he queried. He was however quick to note that if the President felt slighted by the allegations he could seek redress. He also found it unnecessary for the NDC to have been drawn into the fray, especially when the Weekly Standard Newspaper is not an official mouthpiece of the party. (Listen to the interviews in the attached audio.) Story by Nathan Gadugah