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.
“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.
Latest Stories
-
UK social media campaigners among five denied US visas
5 hours -
BP sells stake in motor oil arm Castrol for $6bn
5 hours -
GPL 2025/26: Asante Kotoko beat Eleven Wonders to go third
7 hours -
Algerian law declares France’s colonisation a crime
7 hours -
Soldiers remove rival Mamprusi Chief Seidu Abagre from Bawku following Otumfuo mediation
8 hours -
Analysis: How GoldBod’s operations led to a $214 million loss at the BoG
8 hours -
Why Extending Ghana’s Presidential Term from Four to Five Years Is Not in the Interest of Ghanaians
8 hours -
Young sanitation diplomat urges children to lead cleanliness drive
8 hours -
Energy sector shortfall persists; to balloon to US$1.10bn in 2026 – IMF
8 hours -
Gov’t secures $30m Chinese grant for new university of science and technology in Damongo
8 hours -
Education Minister commends St. Peter’s SHS for exiting double-track, pledges infrastructure support
8 hours -
ECG to be privatised – IMF reveals in Staff Report
8 hours -
Accra Unbuntu Lions Club impacts 500,000 Ghanaians in 5 years of social service
8 hours -
VALCO Board holds maiden strategic meeting with management
9 hours -
African Festival: Nollywood star Tony Umez joins Nkrumah musical in Accra
9 hours