Report by Richard Addai
Flagstaff House, the seat of government, or call it Jubilee House if you like, was the venue of a tense crisis meeting on Thursday, 18th May, 2017, to brainstorm on how the Akufo-Addo administration can wriggle itself out of the quagmire presented by the 2.25 billion dollar bond that has been bought by friends of the Finance Minister.
Unimpeachable deep throat sources close to the meeting told The Ghanaian Lens that the meeting started from around 3pm and lasted well into the evening but ended with a clear understanding that the transaction has become a major source of embarrassment to government and it must be dealt with decisively before it festers.
According to our sources, very senior members of the government and the ruling party who were at the meeting [names and designations withheld for now] expressed apprehension over the possibility of the United States of America’s Securities and Exchange Commission (SEC) making adverse findings against Franklin Templeton in relation to the 2.25 billion dollar bond purchase, and how such an adverse finding might impact on the image of the Akufo-Addo administration.
“This apprehension is not misplaced if one remembers that in the year 2004, Franklin Templeton suffered enforcement action at the hands of the US SEC, which means that even if we think that the Minority is wasting their time by petitioning the US SEC we nonetheless must be prepared should there be an adverse finding against Franklin Templeton or Trevor G. Trefgarne. We must be prepared for how such a situation would impact on us as a government,” one source told The Ghanaian Lens.
The Ghanaian Lens has it on good authority that the meeting resolved to form a small committee of legal experts to coordinate the various responses so as to ensure that there would be very little discrepancy, if any at all, in the responses to the various petitions locally and internationally.