Everybody who took part in Gold-for-Oil went through proper due diligence

Audio By Carbonatix

Executive Director of the Institute for Energy Policy and Research and member of the New Patriotic Party's (NPP) Communication Team, Kwadwo Poku, has defended the integrity of the government’s Gold-for-Oil programme.

He insisted that all participating companies were subjected to rigorous due diligence processes.

Speaking on JoyNews’ Newsfile programme on Saturday, October 4, Mr Poku asserted that state institutions, including the Bank of Ghana and the Financial Intelligence Centre (FIC), played active roles in verifying the credentials of the firms involved.

Read also: IMANI demands audit as forensic report exposes Gold-for-Oil scandal

“Everybody who took part in Gold-for-Oil went through proper due diligence,” he stated. “The Bank of Ghana undertook what is called the KYC — Know Your Customer — and those companies were also sent to the FIC for them to basically screen these companies.”

The remarks come in the wake of a report by policy think tank IMANI Africa, which alleges a GH¢7.2 billion leakage in the implementation of the Gold-for-Oil policy.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Gold-for-oil

Kwadwo Poku