Finance minister & GRA boss snub Akufo-Addo’s directives on SML

  • Africa
  • July 1, 2024
  • 0 Comments

…..Resumes operations despite Presidential directive; MPs, media, academia silenced with cash

In a surprising turn of events, Strategic Mobilization Limited (SML) last week, went back to work under the direction of the Ghana Revenue Authority (GRA)  after a six-month suspension ordered by the President, Nana Akufo-Addo.

The resumption of work, comes despite a specific directive from the President to renegotiate the agreement with SML and present it to Parliament for approval, following the release of a KPMG report.

Insiders reveal that, the GRA Commissioner General, Julie Essiam and the Minister of Finance, Dr Mohammed Amin Adam, both tasked with implementing the KPMG report’s recommendations, chose to quietly allow SML to continue its operations, ignoring the presidential directive.

 In a letter addressed to industry players, the GRA Commissioner General, announced that SML would resume operations on June 14.

This announcement was met with a response from the Minister of Energy, Dr Matthew Opoku Prempeh (Napo), who highlighted that the industry had adopted new standards requiring compliance from all companies. However, his concerns were disregarded, permitting SML to proceed.

The resumption of SML’s operations, has sparked widespread speculation and controversy. The nation has largely remained silent, to the satisfaction of those orchestrating the scheme, which has allegedly siphoned off approximately GHS 1.5 billion from the Ghanaian populace.

There are claims that millions of cedis, have been funnelled into the pockets of key figures in the media, civil society, academia, and Parliament.

This extensive quiet is unusual, especially given the significant public interest following the damning yet confusing KPMG report, which highlighted Ghana’s lack of value from the agreement but did not recommend its outright cancellation.

Many have attributed the wobbly nature of the KPMG’s report to the audit company’s relationship with the government, citing it as the reason behind the failure of the government to refer to the Audit Service or a truly independent body for the audit as demanded by some Civil Society Organizations (CSOs).

Sources indicate that, funds have been distributed to ensure the silence surrounding SML’s resumption.

Some Members of Parliament, who have requested anonymity, have expressed their fear of losing their seats if they speak out.

One informant willing to go public in the future, recounted an incident where a bag of money was placed in the car of a university professor to ensure their silence on the matter.

The seeming opposition from the Energy Minister to SML’s resumption is misinterpreted by some as a personal vendetta against the company.

However, The Herald, has uncovered information, suggesting that the Minister immediately devised an alternative to SML, following its suspension.

Stay tuned for the full story, as we continue to investigate and uncover the truth behind the resumption of SML’s operations and the alleged corruption that has ensued.

The post Finance minister & GRA boss snub Akufo-Addo’s directives on SML appeared first on The Herald ghana.

  • Related Posts

    SMEs, households set to benefit from Zanlink internet upgrades

    Zanlink is also focused on reaching underserved areas beyond the main commercial centres.Read More

    Read more

    Concerns over funding as Tanzania shifts to skills-based education

    This gap is especially concerning for TVET, a subsector that requires specialised workshops, digital equipment and highly trained instructorsRead More

    Read more

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    MPR: Manufacturers say lending rate at 30–37% still crippling production

    MPR: Manufacturers say lending rate at 30–37% still crippling production

    Naira strengthens to N1,441/$1 as CBN holds MPR at 27%  

    Naira strengthens to N1,441/$1 as CBN holds MPR at 27%  

    MPR at 27%: Analysts warn CBN’s tight stance will slow economic growth 

    MPR at 27%: Analysts warn CBN’s tight stance will slow economic growth 

    Otti declares open Abia-Turkiye Investment Summit, assures 100% ROI

    Otti declares open Abia-Turkiye Investment Summit, assures 100% ROI

    VFD Rights Issue: Notice of extension of acceptance period to 26 December 2025

    VFD Rights Issue: Notice of extension of acceptance period to 26 December 2025

    Sovereign Trust Insurance announces board changes as three directors exit 

    Sovereign Trust Insurance announces board changes as three directors exit 

    CDCFIB 2025 recruitment: Over 200,000 candidates fail computer‑based test 

    CDCFIB 2025 recruitment: Over 200,000 candidates fail computer‑based test 

    TETFund invests over N30bn to improve security across Nigerian tertiary institutions 

    TETFund invests over N30bn to improve security across Nigerian tertiary institutions 

    FCCPC caps digital lenders to 5 apps as industry faces January deadline 

    FCCPC caps digital lenders to 5 apps as industry faces January deadline 

    How to select the right Stockbroker in Nigeria 

    How to select the right Stockbroker in Nigeria 

    Condom distribution in Nigeria falls 55% — UNAIDS  

    Condom distribution in Nigeria falls 55% — UNAIDS  

    Analysis: CBN’s 27% rate freeze, weird decision, sensible logic 

    Analysis: CBN’s 27% rate freeze, weird decision, sensible logic 

    Gombe govt allocates N500 million to address child malnutrition crisis 

    Gombe govt allocates N500 million to address child malnutrition crisis 

    Nigerian Breweries in 2025: Financial rebound, stocks double in value, but who is doing better? 

    Nigerian Breweries in 2025: Financial rebound, stocks double in value, but who is doing better? 

    Lagos social register adds 172,927 new vulnerable households in 2025 

    Lagos social register adds 172,927 new vulnerable households in 2025 

    Nigerian equities market recovers N95 billion as CBN holds rates steady 

    Nigerian equities market recovers N95 billion as CBN holds rates steady 

    ‘Bitget’s US Stock-linked Futures Surpassed $5bn in Cumulative Volume’

    ‘Bitget’s US Stock-linked Futures Surpassed $5bn in Cumulative Volume’

    SUNU  Assurances Secures  Approval for  Recapitalisation Plan

    SUNU  Assurances Secures  Approval for  Recapitalisation Plan

    Cardoso to Address Bankers at CIBN Annual Bankers’ Dinner

    Cardoso to Address Bankers at CIBN Annual Bankers’ Dinner

    2025: Policymakers, Financiers, Development Partners, Researchers Gather for Solewant Group’s Africa Energy Summit

    2025: Policymakers, Financiers, Development Partners, Researchers Gather for Solewant Group’s Africa Energy Summit

    Dun & Bradstreet: Over 600M Businesses Identified through DUNS Number

    Dun & Bradstreet: Over 600M Businesses Identified through DUNS Number

    Champion Breweries  Commences N15.91bn Rights Issue to Strengthen Expansion Strategy

    Champion Breweries  Commences N15.91bn Rights Issue to Strengthen Expansion Strategy

    Gov. Nwifuru presents N884.87 billion 2026 budget proposal to Ebonyi Assembly

    Gov. Nwifuru presents N884.87 billion 2026 budget proposal to Ebonyi Assembly

    Cardoso-led CBN recovers N2 trillion from old intervention schemes after audit review 

    Cardoso-led CBN recovers N2 trillion from old intervention schemes after audit review 

    Dangote partners Honeywell International to expand refinery capacity

    Dangote partners Honeywell International to expand refinery capacity

    Intense Group hosts Leadway Digital Summit – Driving the future of non-banking finance in Nigeria 

    Intense Group hosts Leadway Digital Summit – Driving the future of non-banking finance in Nigeria 

    FG unveils Inspire Live(s) online classes nationwide to boost education 

    FG unveils Inspire Live(s) online classes nationwide to boost education 

    CBN says foreign exchange rate now market-driven, retains high cash reserve ratio 

    CBN says foreign exchange rate now market-driven, retains high cash reserve ratio 

    Cardoso: 16 banks have met CBN recapitalisation threshold  

    Cardoso: 16 banks have met CBN recapitalisation threshold  

    CBN holds benchmark rate at 27% as inflation continues to ease

    CBN holds benchmark rate at 27% as inflation continues to ease

    Sanwo-Olu presents N4.237 trillion 2026 budget proposal to Lagos Assembly

    Sanwo-Olu presents N4.237 trillion 2026 budget proposal to Lagos Assembly

    CBN absorbs N2.87 trillion liquidity as 2025 debt issuance hits N17.6 trillion 

    CBN absorbs N2.87 trillion liquidity as 2025 debt issuance hits N17.6 trillion 

    FGN bond auction oversubscribed by 120% as investors bid N657 billion  

    FGN bond auction oversubscribed by 120% as investors bid N657 billion  

    BREAKING: CBN retains MPR at 27% to sustain inflation fight 

    BREAKING: CBN retains MPR at 27% to sustain inflation fight 

    CDCFIB announces recruitment for mid-management positions in Federal Fire Service 

    CDCFIB announces recruitment for mid-management positions in Federal Fire Service 

    Start small, retire big: The young Nigerian’s playbook to wealth 

    Start small, retire big: The young Nigerian’s playbook to wealth