The Special Prosecutor, Kissi Agyebeng, has announced the commencement of an investigation into suspected corruption and corruption-related offences within the operations of the Minerals Income Investment Fund (MIIF).

Addressing the press on Wednesday, February 12, Special Prosecutor Kissi Agyebeng stated that the probe would focus on payments made in connection with several projects and transactions.

These include dealings with Agyapa Royalties Limited, the Small Scale Mining Incubation Programme (SSMIP), the Quarry Value Addition Programme (QVAP), Asante Gold Corporation, ElectroChem Ghana Limited, the Lithium Asset project, Gold Asset 2 (the Enchi gold project), and other MIIF investments.

The investigation will also look into funds spent on the Chairman of the board, the operational funds of MIIF, the purchase of a parcel of land intended for an office building, contracts and agreements entered into by MIIF, as well as MIIF publications.

The inquiry targets two former officials and two current officials of the Fund who were not named by the Special Prosecutor, Kissi Agyebeng.

The Minerals Income Investment Fund (MIIF) is a sovereign minerals fund mandated by the Minerals Income Investment Fund Act, 978 (as amended) to maximize the value of dividend and royalties income accruing to the Republic of Ghana in a beneficial, accountable and sustainable manner and to monetize Ghana’s mineral wealth in a manner which would bring long term value to Ghana.

MIIF also has 100% ownership of Agyapa Royalties Company, the only state-owned gold royalties company in Africa.