‘Gold for Oil’ deal must go to parliament for scrutiny – Former President Mahama

‘Gold for Oil’ deal must go to parliament for scrutiny – Former President Mahama

John Dramani Mahama

The former President of Ghana, John Dramani has called on the government to send Ghana’s ‘Gold for Oil’ deal to parliament for scrutiny.
According to him, the deal is an international financial transaction and would require parliamentary approval.
Making an inference at a public forum in London he stated that “According to the 1992 Constitution of Ghana international financial transactions require the approval of Parliament, it does not matter that the Gold for Oil deal is a barter trade.”
In a response to a question at the forum, attended by members of the UK & Ireland Chapter of the National Democratic Congress (NDC), President Mahama cited the Sinohydro agreement that exchanges the country’s bauxite for infrastructure development by China as a classic example of barter trade.
He further explained that if the Sinohydro agreement was a barter deal and went to Parliament for approval because it is an international financial transaction, why not the current deal in which Ghana’s gold is being exchanged for oil.
The former President noted that the deal is currently shrouded in complete secrecy with only government officials who are involved in the transaction know the details, describing the development as unacceptable.
“There is a complete lack of transparency about the transaction, and that is one of the major problems with this government. They hide everything and do as they please,” he noted.
The former president believes with parliamentary scrutiny, Ghanaians will have value for money in the gold for oil deal and also know the beneficial owners behind the transaction.

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