The Finance Ministry has rejected claims it acted illegally when it allocated ¢300 million to set up the new National Development Bank (NDB) without seeking approval from Parliament.

The Minority has served notice it will vehemently reject the use of public resources for the setting up of the bank because government is circumventing parliamentary scrutiny in establishing the bank.

Speaking to the media, Haruna Iddrisu, Minority Leader in Parliament said, “it is kind of defeatist for me for the ministry of finance to want to establish this national development bank without recourse to parliament.

“Will they come for parliament to provide funding for it? What will be the basis for parliament approving money for such a bank? We will not accept any public sources dedicated to that bank.”

But reacting to the Tamale South MP, the Deputy Finance Minister, John Kumah rejected the claim.

He stated that the Finance Minister in fact did go to Parliament with the issue of the Bank.

“It is not true that the finance minister has not been to parliament. In the 2021 budget, it was part of the budget that a seed fund of about ¢300 million was made available.

“So all these, every time the Finance Minister has been to Parliament, he has informed Parliament so it is a question of the route...are you seeking to set it up by an act of Parliament as in legislation? That is different from not going to Parliament,” he said.