Kow Abaka Essuman, former Legal Advisor to the President, has directly challenged statements by Deputy Attorney-General Dr. Justice Srem Sai. Essuman asserts that funds connected to the Ghana Infrastructure Investment Fund (GIIF) "Sky Train" project are indeed traceable. This statement comes in response to the Deputy AG's public comments regarding the ongoing trial of The Republic v Solomon Asamoah & Another.
Essuman argues that the Deputy AG's claim of "the money cannot be found" does not align with the evidence presented in court. He emphasized that audited financial statements, board minutes, and other records clearly show how the money was handled within GIIF. Signed-off audited accounts detailing the questioned transactions were specifically mentioned. Evidence indicating GIIF received its shares in the consortium arrangement also supports this traceability. These details are documented in official governance and financial records submitted as evidence.
This public disagreement unfolds as the prosecution has closed its case in the trial. The Deputy AG had highlighted allegations of a US$2 million payment by the former CEO and Board Chairman of GIIF to a foreign company. This payment was allegedly made without the necessary approvals. The accused are currently awaiting a decision on their submission of no case to answer, which will determine if the trial continues.
Essuman maintains that the existing evidence supports the defence's view. He stated that the funds are both traceable and properly accounted for. The court will ultimately need to examine all documentary evidence. The outcome of the no-case submission is seen as a crucial test of how the facts are interpreted judicially. This legal debate brings attention to governance and financial transparency at GIIF, a key state institution responsible for significant infrastructure investments.
The Ghana Infrastructure Investment Fund (GIIF) plays a vital role in funding strategic national projects. Its financial management and accountability are therefore of significant public interest. Disputes over fund traceability can impact investor confidence and the perception of financial oversight within state-owned enterprises. The legal process is expected to shed light on the management of public funds in complex project financing.
The ongoing trial comes at a time when Ghana faces economic challenges. Ensuring efficient and transparent use of public resources is paramount. The GIIF "Sky Train" case highlights the importance of robust auditing and documentation. It also underscores the role of legal proceedings in upholding financial accountability. The court's decision on the no-case submission will be closely watched.