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
-
Karaga MP donates 4,000 gallons of fuel to boost livelihoods in New Year outreach
31 minutes -
GIPC CEO engages European Parliament delegation on Ghana’s investment reforms
36 minutes -
BoG rejects market speculation, emphasises data-driven policies
2 hours -
BoG targets consolidation, discipline in 2026 policy direction
2 hours -
GJA-Ashanti commends EPA’s continuous engagement with journalists who were involved in accident
2 hours -
Wenchi needs development, help us – Chiefs to Aseidu Nketia
2 hours -
EPA boss encourages journalists not to relent in their support to fight galamsey
3 hours -
Domestic Gold Purchasing Programme helped Ghana’s economy during difficult period – IMF
3 hours -
Ike City Group of Companies touches hearts at Dzorwulu Special School with compasionate donation
3 hours -
Vehicle exhaust pipes on the left create about 40% more pollution on the road than those on the right – Study
3 hours -
My Response to Dr Bryan Acheampong: Facts must prevail
3 hours -
U.S. and Ghana Armed Forces strengthen medical readiness at SETAF-AF Best Medic Competition
4 hours -
Earlier passage of BoG’s Amendment Bill could have prevented haircuts – Dr. Asiama
4 hours -
Economic stability gains were hard-won through discipline and institutional effort – BoG Governor
5 hours -
GCB Bank rewards customers at first “Pa To Pa” Promo Draw
5 hours