President Akufo-Addo’s Energy Minister, Mr. Boakye Agyarko told a blatant lie to the Ghanaian people yesterday at a hurriedly organised press briefing where he announced that the Akufo-Addo government has not found any wrongdoing in relation to the transaction that saw the BOST boss, Mr. Alfred Obeng sold five million litres of contaminated fuel to a company under circumstances that smack of gross insider trading.
According to Akufo-Addo’s Energy Minister, Akufo-Addo’s Energy Minister investigations by the BNI and National Security established that fifteen (15) companies put in a bid to purchase the contaminated fuel and that Movenpinaa Energy’s offer was the highest hence the contaminated fuel was sold to them.
“Among the fifteen companies that expressed interest, Movenpinaa’s price was the highest. Its initial price was GHS 0.90 per litre as the highest followed by Nation Links Oil which quoted GHS 0.80 per litre. Despite these quotations, BOST pushed Movenpinaa to pay GHS1.30 per litre which is the highest BOST has ever sold contamination products. The highest that was sold under the previous administration headed by Kwame AwuahDarko was GHS 1.00 per litre,” the Minister stated.
Clearly, these are blatant lies.
First of all, the assertion that fifteen companies put in a bid to purchase the contaminated is a clear afterthought aimed at closing the door on any discussions with regards to sole-sourcing and to create the impression that the sale of five million litres of contaminated fuel to Movenpinaa Energy through a competitive bidding process and not through sole-sourcing.
Indeed, in an interview with EkuorbaGyasi on Atinka FM on June 23rd, 2017, Mr. Alfred Obeng indicated that Movenpinaa was the only company that put in a bid and that rebuffed suggestions that procurement processes should have been applied to giving them the product.
Asked by EkuorbaGyasi whether the company that had expressed interest in buying the contaminated fuel did so before even its registration officially as a company, this is what Mr. Alfred Obeng said, “one thing to be noted is that when slop is being disposed [of] it does not matter to us if the company is a registered one or not or the date of registration. In our yard we have Ghana revenue authority, CEPS, Ghana petroleum authority so it appears to be a bonded warehouse, if it were sale of good products the companies would have to go through all necessary processes.But no documentation [is] needed once it is slop.”
Asked by EkuorbaGyasi whether it was slop or contaminated products that BOST sold,Mr. Alfred Obeng was at his hedging best when he stated that “it is almost the same thing just that slop is a mixture or two of our substances when we say contaminated substance we mean a good product that is mixed up with another unwanted material.”
Indeed, Mr. Obeng was most categorical that it was after the product was given to Movenpinaa that he came under pressure to give some of the product to other companies so he advised Movenpinaa to sell some of the product to some of the companies including Macwest and Zupp Oil.
“At the time we agreed to sell to this company (Movenpinaa) we had other companies rushing in so we urged the company to sell some out to some local companies that needed it. They (Movenpinaa) asked us to, on their behalf, sell 2 million litres out to Macwest or Zup Oil,” Mr. Alfred Obeng told EkuorbaGyasi and listeners of Atinka FM.
Documents available show that on 2nd June 2017, the very day on which BOST sold the contaminated product to Movenpinaa, Movenpinaa also promptly sold two million litres of the contaminated fuel to Macwest (apparently on the advice of Mr. Obeng).
On the issue of Movenpinaa being the company to have made the highest offer of GHȼ1.30per litre for the product, documents available (and published in this edition) clearly show that Akufo-Addo’s Energy Minister lied to the Ghanaian people.
Movenpinaa Energy made an offer to purchase the whole of the five million litres at a unit price of fifty pesewas per litre (GHȼ0.50).
Movenpinaa Energy’s offer letter, under the heading, “EXPRESSION OF INTEREST TO PROCURE FIVE MILLION LITRES OF CONTAMINATED PRODUCTS AT ACCRA PLAINS DEPOT”, dated 19th May, 2017, reads, “it is my pleasure to inform you of our interest to purchase five million litres of your contaminated products at APD terminal”.
The offer letter concluded that, “our proposed price per litre is GHȼ0.50. We are therefore waiting for your approval and directive. Counting on your support. Thank you. Yours faithfully, G. A. Asiamah, Ag. CEO”
Although Movenpinaa Energy’s offer letter was dated 19th May, 2017, it was not until the 2nd day of June 2017that letter was received by BOST, and that same day, the BOST boss ‘most efficiently’ dealt with the offer without recourse to procurement processes and directed that “the entire five million litres should be given to them [Movenpinaa Energy] at a unit price of one Ghana cedi (GHȼ1.00) [at] open credit”.
2nd June, 2017, very strangely, also just happened to be the day after Movenpinaa received its Certificate of Incorporation and Certificate to Commence Business from the Registrar General.
Clearly, the evidence does not support the assertion by Akufo-Addo’s Minister that Movenpinaa made an offer to buy the contaminated fuel at a price of GHȼ1.30 per litre and that the said offer was the highest.
On the contrary, documents clearly show that it was rather Movenpinaa that sold two million litres of the contaminated fuel to Macwestcompany at a unit price of GHȼ1.32, making a very tidy profit of Six Hundred and Forty Thousand Ghana cedis (GHȼ640,000.00) or Six billion, four hundred million cedis in the old currency!
Interestingly, Akufo-Addo and his team appear not find it worthy to investigate how a company that was not in existence as at the 19th of May, 2017, got to know of the existence of contaminated fuel at BOST APD to the extent of knowing the exact quantity such as to put in a bid in a letter dated 19th May, 2017!
Government may have used its Executive powers to clear the BOST boss, but this matter is far from over.
Stay tuned as we dig further to bring you more revelations on this saga.