We’ve not accessed $75 million loan from any bank – GRA

The Management of the Ghana Revenue Authority (GRA) has vehemently dismissed claims of accessing a US$75 million loan from one of the banks in the country.

The MP for the Bolgatanga Central Constituency, Isaac Adongo, had reportedly called on Parliament to investigate GRA for acquiring a loan of US$75 million without parliamentary approval.

But the GRA in a statement said, “We wish to categorically state that the Ghana Revenue Authority has not accessed any US$75 million loan from any bank as indicated by the Honourable Member of Parliament for Bolgatanga Central.”

The GRA clarified that it had the intention of securing a loan facility to embark on a major capital expenditure project, but upon receipt of ‘no objection’ from the Ministry of Finance, it took a decision not to access the loan facility.

“The Management of GRA wants to clarify that in 2022, the Authority had the intention of securing a loan facility to embark on a major capital expenditure project and therefore wrote to the Ministry of Finance to seek a “no objection” from the Minister. Upon receipt of the “no objection” from the Ministry of Finance, the Board and Management of GRA discussed the issue further and decided not to access the loan facility anymore. It was for this reason, that GRA did not proceed to Parliament on the issue,” the GRA stated.

Read below the statement by the GRA

For Immediate Release
ALLEGED RED FLAG RAISED OVER US$75 MILLION GRA LOAN
The Management of the Ghana Revenue Authority (GRA) has sighted news articles and a recording of a media interview granted by the Ranking Member of the Finance Committee of Parliament and the Member of Parliament (MP) for Bolgatanga Central Constituency, Honourable Isaac Adongo, which is circulating on some online media platforms. Hon. Adongo has called on Parliament to investigate GRA for acquiring a loan of US$75 million, which he described as illegal. He also indicated that it was wrong for GRA to access such funds without Parliamentary approval.

The Management of GRA wants to clarify that in 2022, the Authority had the intention of securing a loan facility to embark on a major capital expenditure project and therefore wrote to the Ministry of Finance to seek a “no objection” from the Minister. Upon receipt of the “no objection” from the Ministry of Finance, the Board and Management of GRA discussed the issue further and decided not to access the loan facility anymore. It was
for this reason, that GRA did not proceed to Parliament on the issue.

We wish to categorically state that the Ghana Revenue Authority has not accessed any US$75 million loan from any bank as indicated by the Honourable Member of Parliament for Bolgatanga Central
–End–
SIGNED
NANA BIRAGO OWUSU-ANSAH
CHIEF REVENUE OFFICER
COMMUNICATION AND PUBLIC AFFAIRS DEPARTMENT

 

Click here to read the statement by GRA 

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