Chief Executive of the Bulk Oil Distribution Companies (BDCs), Senyo Hosi, has threatened to sue Assin Central Legislator, Kennedy Agyapong, over allegations of bribery against him.

Mr Agyapong alleged on Twi speaking radio station, Oman FM that Mr Hosi attempted to bribe the Managing Director of the Bulk Oil Storage and Transportation Company (BOST) with $1million to enable him buy the contentious 5 million litres of contaminated fuel sold to an unregistered oil firm – Movenpiina.

According to Mr. Agyapong, Senyo Hosi had tried to bribe Alfred Obeng Boateng -- BOST's CEO -- so that the controversial sale of the off-spec oil would be overturned in his (Hosi's) favour.

However, Senyo Hosi has described the MP's claim as unfounded.

“I have a lot of respect for Mr Kennedy Agyapong as an MP and I will advise that before he shares some kind of information, he should think through it a bit more, and get the necessary truth and understanding,” he said.

Senyo Hosi further adds that it would not make economic sense for him to even engage in such a transaction.

He explains: “If you are selling something for 6.5 [Ghana cedis] and I’m going to give you a bribe for $1million, [Ghc4.5million], how much am I going to pay for the product itself, what is the incentive there," he quizzed.

He said his lawyers are seriously considering an appropriate action.

“We are going to ask our lawyers to try and address that issue...I have a hard-earned reputation and I can’t entertain something like this but let me believe that it’s a genuine error on his part,” he stressed.