Former President John Mahama asked the Finance Minister to as a matter of urgency refund the alleged diversion of $100 million accrued from Ghana’s Petroleum lifting in the first quarter of 2022.
Mr Mahama said there can be no justification for the said diversion.
According to him, the move is illegal as per Petroleum Exploration and Production Act (Act 919).
In a Facebook post on Monday, Mr Mahama stated that the Finance Minister did not seek parliamentary approval for the diversion.
“Section (15) of the Petroleum Exploration and Production Act (Act 919), is also clear that “Any borrowing exceeding the cedi equivalent of thirty million United States Dollars for the purpose of exploration, development and production shall be approved by Parliament and shall be in consonance with the Petroleum Revenue Management Act.”

“There can be no justification for diverting revenues accruing from the nation's share of petroleum resources into any other account aside from the PHF.

The Minister for Finance must as a matter of urgency repatriate all such illegal payments back into the PHF without delay as there is no record to confirm parliamentary approval on any such loans acquired by GNPC in their work programme,” he stated.
The issue was first made public by the Minority in Parliament.
The Minority, in a statement issued on Wednesday, September 28, insisted the revenue from the Jubilee and TEN fields to a company was transferred illegally.
The Caucus also alleged that the Finance Minister has ceded shares from the 2021 Occidental (Oxy) transaction in respect of the Jubilee and TEN Fields to an offshore company known as JOHL “in a very surreptitious and opaque manner.”
Latest Stories
-
Visa appoints Aminata Kane as Head of Western and Central Africa
1 minute -
African indigenous knowledge and practices can inspire sustainable modern innovations – Scholar
9 minutes -
I won’t advocate raising judges’ retirement age to 75 years– Justice Mensah
12 minutes -
We still welcome you – U.S. Embassy reassures Ghanaians amid travel ban reports
14 minutes -
We won’t take inclusion of private schools in Free SHS for granted – CHOPSS
17 minutes -
Justice Mensah proposes Chinese language training for judges to combat ‘galamsey’
30 minutes -
CDKN and GNCCI partner to integrate Climate Action into business practices
31 minutes -
Minority Caucus welcomes Fitch upgrade but flags risks to 2025 Budget credibility
41 minutes -
Tony Dath hits No.1 on iTunes Ghana with Adadamu EP
1 hour -
AAAG calls for strong policy support to boost vehicle manufacturing in Ghana
1 hour -
2025/26 GPL: New season to start on September 12
2 hours -
‘Will these girls wait till 18?’ – Justice Mensah defends keeping sexual consent age at 16
2 hours -
GOC to commemorate Olympic Day on Saturday
2 hours -
‘It’s a disgrace!’ – Baba Rahman slams poor pitch conditions in Ghana, calls for urgent action
2 hours -
Amasaman OlympAfrica site will be developed for use – GOC President
2 hours