Login to your account

Username *
Password *
Remember Me
Rainbow Radio - Items filtered by date: Monday, 13 August 2018
World football governing body, FIFA has warned the government to withdraw the court process of dissolving the Ghana football Association (GFA) by Monday 27 August, 2018 or face its wrath. Information gathered by Rainbow Sports indicates that, FIFA has written a letter to the Ministry of Sports over the matter. Per the directive, if the ministry fails to comply with this, Ghana would be handed a ban- meaning no club or international team can compete in international competitions. Football activities came to a halt in June after an Accra High Court placed an injunction following an application filed by the Attorney General to enable the government take steps to dissolve the the GFA. This was a result of the exposé by Anas Aremeyaw Anas which led to the resignation of the GFA president, Kwesi Nyantakyi who was çaptured on tape allegedly taking a bribe of $65000 to secure sponsorship for the local league something he is contesting in court. Over 74 referees and officials were involved in the scandal have been suspended by appropriate authorities. By: Isaac Mortey (Intern, Rainbow Radio)
Published in Sports
It has emerged that the Ministry of Finance and the Controller and Accountant General’s Department failed to capture three important transactions in their books. The transactions were, a 3.8 million dollars Judgment debt awarded to the country against Dunkwa Continental Mining Co. Ltd, repayments of GHc51 million judgment debt paid to businessman, Alfred Agbeshie Woyome and over 15 million Euros loan to the National Investment Bank were all hidden from the auditors in 2016. The 2017 Auditor General’s report said: “I again observed that, three transactions, including two court judgments detailed below, were not captured by the MoF [Ministry of Finance] and the CAGD [Controller and Accountant General’s Department] in their books, as a result, these were omitted in the CF accounts.’’ This came to light at the opening of the Public Accounts Committee sitting today [Monday]. Reporting from the sitting, Rainbow Radio’s Parliamentary correspondent, Afia Kwarteng said, the Deputy Finance Minister, Abena Osei Asare and Controller and Accountant General, Eugene Asante Ofosu-Hene, argued that owners of the mining company could not be traced for recovery of the judgment debt after the international court order.
Published in General News
%PM, %13 %788 %2018 %17:%Aug

HIDENORI IS IN TROUBLE-PAUL DOGBE

WBO Junior featherweight champion, Isaac Dogbe has landed safely in Gila River Arena in Glendale Arizona ahead of his title defense against Japanese Hidenori Otake. The Royal Storm became the WBO super bantamweight champion when he knocked out Jessie Magdaleno in round eleven in Philadelphia (Pennsylvania) in U.S.A. Ahead of his title fight against Hidenori Otake, his father and trainer Paul Dogbe said the team is doing well in Japan. Otake who has been on rampage since November 22,2014 winning nine bout on a row said he is grateful for this opportunity “In capturing the world title for my first time on August 25 I would like to show the world that age does not matter.” In an interview with Isaac Worlanyo Wallace, Paul Dogbe said, Isaac is born ready. “We are set to roll training camp is good so far, Isaac is born ready, he can deal with Otake he is a great guy very strong physically, 37 years old, we think this is his last shot to the world title, so we know he is going to come and be throwing everything at Isaac and we are ready. He will come like a soldier but Isaac is ready the kid is strong. We can’t complain. What Isaac is doing now is praying to the Almighty to intervene. We will start to adjust and look at what he is going to bring”. By: Isaac Mortey (Intern, Rainbow Radio)
Published in Sports
The Economic Fighters League have submitted a petition to the Speaker of Parliament, Prof. Aaron Mike Oquaye demanding that he declares the seats of 54 absentee MPs vacant. The pressure group's petition is premised on the work of Odikro, a civil society movement. They believe it has been established beyond reasonable doubt that these MPs have violated article 97 (1) (c) of the 1992 constitution. The petition, which was signed by Hardi Yakubu-Fighter General, quoted the provision in the above article, which mandates MPs to seek permission before absenting themselves from parliament. However, in the case of the 54 MPs, have failed to give reasonable explanation for being absent. The statement in parts read: ‘’absenteeism not only deprives us, the people of proper representation in Parliament, it can only lead to poor scrutiny of bills, agreements and other Executive actions. It also costs us money.’’ The Odikro report recorded that the 54 MPs were absent from 15 sittings without a reasonable explanation to the Privileges Committee and so, ‘’having established that these MPs have violated article 97 (1) (c) of the 1992 constitution as well as the standing orders of parliament, as the records show, we hereby demand that you declare their seats vacant in accordance with the constitution, which you have sworn an oath to uphold and defend. Doing nothing about this chronic absenteeism make nonsense of the constitution and confirms the view that the laws of Ghana only works when some classes of citizens are involved and are impotent when others are involved.’’ The affected MPs are: Eric Kwakye Dafour, MP for Nkawkaw; Dr Matthew Opoku Prempeh, MP for Manyhia South; Elizabeth Afoley Quaye, MP Krowor; Samuel Atta Akyea, MP Abuakwa South; Dr Kwaku Afriyie, MP Sefwi Wiawso; Mrs Ursula Owusu-Erkuful, MP Ablekuma West; Ignatius Baffour Awuah, Sunyani West MP; Catherine Afeku, Evalue Ajomoro Gwira; Kwaku Agyemang-Manu, Dormaa Central MP; Kwasi Amoako Arthur, Atiwa West MP; Joe Ghartey, Essikadu/Ketan MP; Ambrose Dery, Nandom MP; Dominic Bingab Aduna Nitiwul, Bimbilla MP; Ms Shirley Ayorkor Botchwey, MP Anyaa Sowutuom; Joseph Kofi Adda, Navrongo Central MP; Joseph Tetteh, Upper Manya Krobo and Solomon Namiliit Boar, Bunkrugu MP. The others are: William Okraku Aidoo, Afigya Kwabre South MP; Kwaku Agyenim-Boateng, Berekum West MP; Tina Gifty Mensah, WEIJA Gbawe MP; Benito Owusu-Bio, Atwima-Nwabiagya North MP; Gifty Twum-Ampofo, Abuakwa North MP; Kwame Okyere Darko-Mensah, Takoradi MP; Kingsley Aboagye Gyedu, Bibiani Awiaso Bekwai MP; Carlos Ahenkorah, Tema West MP; Paul Essien, Jomoro MP; Evans Opoku Bobie, Asunafo North MP; Alhaji Habibu Tijani Mohammed, Yendi MP; William Kwesi Sabi, Dormaa East MP; Osei Bonsu Amoah, Akwapim South MP; Francis Ato Kojo, Ekumfi MP; Ms Freda Prempeh, Tano North MP; Daniel Nii Titus Glover, Tema East MP and Anthony Karbo, Lawra MP. The rest are: Charles Binipom Bintin, Saboba MP; Sampson Ahi, Bodi MP; Dr Dominic Ayine, Bolgatanga East MP; Ahmed Arthur, Okaikwei South MP; Joseph B. Dehah, Asutifi North MP; Ken Ohene Agyapong, Assin Central MP; Ben A, Bandah, Offinso South; Kofi Otchere Agyekum, Fanteakwa South, Dr Kwabena Twum-Nuamah, Berekum East MP; Cassiel Ato Forson, Ajumako/Enyam/Essiam MP; Mrs Queenstar Pokua Sawyerr, Agona East MP; Mathias Kwame Ntow, Aowin MP; Kwaku Asante Boateng, Asante Akim South MP; Kobina Tahir Hammond, Adansi Asokwa MP; Emmanuel Nii Okai Laryea, Amasaman MP; Rev John Ntim Fordjour, Assin South MP; Eric Afful, Amenfi West MP; Samuel Ayeh-Paye, Ayensuano MP; Samuel Nartey George, Ningo Prampram MP and Alban Sumana Kingsford Bagbin, Nadowli Kaleo constituency. The report was on the First Session of the Seventh Parliament 2017.
Published in General News
Award winning investigative journalist, Anas Aremeyaw Anas and some other journalists contracted by BBC to investigate a series of mysterious murders in Malawi have narrowly escaped death. The team were working undercover to expose men who claim to suck the blood of children to make get-rich amulets when they were attacked by a crowd of furious villagers. The award journalist was on the mission with Henry Mhango and Darius Bazargan. The journalist according to information available posed as a businessman during the investigation hoping to increase his wealth through “muti” magic [witch doctors who use the parts of human body to make charm for their clients]. He and his crew met with one Kamanga, a “muti” killer who claims to suck the blood of children to make get-rich amulets. Anas and his crew were discussing with Kamanga, when they were attacked by a crowd of furious villagers who thought they were the killers.
Published in General News
On August 2nd we woke up to 30 banks. When we went to bed a day before there were 34 banks. Five banks that had ‘kaput’ had now become Consolidated Bank Ghana Limited. Five had become one; UniBank, Sovereign Bank, Construction Bank, BEIGE Bank, and Royal Bank has been ‘consolidated’ to form a new entity after they, according to the Central Bank, failed to meet their liquidity obligations, consistently missed capital requirements and/or acquired banking licences under false pretence. But this is not new, exactly a year ago, on 14th August, 2017, the banking licences of UT and Capital banks were revoked. The Bank of Ghana then allowed the Purchase and Assumption of these banks by GCB Bank. The news reports that followed were intense with alarming headlines, analysis and opinions, and then nothing so far. The collapse of the five banks has also witnessed a similar trend with the conclusion that the banks failed. In Ghana, bank failure is now the norm! And the cost to me and you of these failures is huge, estimated at over GH¢8billion. Let me put the amount in context. Each and every Ghanaian citizen, whether six months or eighty years old, over the last 12 months or so, has taken GH¢275 out of their pocket and given it to these banks. In the 2018 Government of Ghana budget, the amount is more than 10percent of Ghana’s income, greater than the allocation to health and education put together, almost 50percent of the wage bill and total payments for interest income. But why do banks fail? Banks fail because of mounting portfolios of risky loans, the final step is that the bank is unable to borrow money from fellow banks or that depositors make a ‘run on the bank’. Based on the Central Banks press release what happened to the seven banks cannot be termed as failure. The majority of these banks are ‘kaput’ due to the pure and unadulterated greed and recklessness of their shareholders and directors. The authorities must be ruthless in dealing with these ‘greedy bastards!’ Among the numerous untoward activities, at uniBank, for example, was the giving out of GH¢1.6billion to shareholders and related parties in the form of loans and advances without due process and in breach of relevant provisions of Act 930. In addition, these shareholders and related parties had also been given amounts totalling GH¢3.7 billion which were neither granted through the normal credit delivery process nor reported as part of the bank’s loan portfolio. The loans were not secured and earned no interest income for uniBank. Altogether, shareholders and related parties of uniBank have ‘taken out’ an amount of GH¢5.3 billion, constituting 75percent of total assets of the bank. As though that was not enough, the Central Bank pointed out that uniBank’s shareholders and related parties have admitted to acquiring several real estate properties in their own names using the funds they took from the bank under questionable circumstances. Promises by these shareholders and related parties to refund monies by mid-July 2018 and legally transfer title to assets acquired back to uniBank have failed to materialize. In the case of Royal Bank, the bank, according to the Central Bank, has persistently faced serious liquidity challenges since September 2017, resulting in the continuous breach of the cash reserve ratio required by section 36 of Act 930. It has survived on liquidity support totaling GH¢295million. A number of the bank’s transactions totaling GH¢161.92 million were entered with shareholders and related parties structured to circumvent single obligor limits under Act 930, conceal related party exposure limits under Act 930, and to overstate the capital position of the bank for the purpose of complying with the capital adequacy requirement. The banks did not fail, they were looted for personal gain Ghana is at a critical juncture, a situation of uncertainty, and how we manage this ‘crisis’ will be decisive for the selection of one path of institutional development over other possible paths. What kind of society do we want? Is it one with institutions that serve the interests of the many allowing us to save, invest and innovate. Or do we want extractive institutions which permit a few people to exploit and loot our resources and hold us to ransom? Sustainable growth, development and prosperity is only possible if all of us are included in the process of governing. Think of the state of our hospitals, schools and roads. In any case, what right does anyone have to condemn my children to poverty? In years to come how can I explain to my children what is ethically just when they point to houses in Airport where the ‘looter’s’ families are still benefiting from the ill gains. This is a fight worth fighting for and our leaders must declare where they stand. Are they for a few rich ‘thieves’ or the many honest poor. There is no turning back. The Central Bank, Economic and Organised Crime Office (EOCO), Bureau of National Investigations (BNI), Financial Intelligence Centre (FIC) and the Criminal Investigations Department (CID) of the Ghana Police Service must work together to bring everyone involved in any dubious and criminal deal should be brought to book. Unless the people that are culpable are prosecuted, we might as well not have started. We have got to set an example which will be the foundation for the reformation of Ghanaian institutions. The Governor MUST prosecute those who are culpable. Where were the regulators, who are their auditors, who went on the reviews, who were their tax inspectors? Spare no one! These issues have to be dealt with quickly, promptly and decisively, because it affects the majority of us who are trying to do the right thing. You cannot take taxpayers money and give to your wife, children and cronies. It is wrong, wrong, wrong. What’s the incentive to work? Everybody is watching, small and big time thieves, our children, local and foreign investors, lets get the show on the road. Enough is enough! By: Ken Thompson The writer is the Managing Director of Dalex Finance, a non-bank financial institution.
Published in Business
The Vice President of the Republic, Dr Mahamudu Bawumia, has cut sod for work to begin on the construction of 320 Housing units for the Ghana Police Service. The Police Housing project, which will be made up of 112 two bedroom apartments, and 208 three bedroom apartments, will be constructed as part of Government’s plan to provide decent accommodation for the security services and other government agencies. An additional 10,000 housing units for the security agencies are also expected to be constructed under the Infrastructure for Bauxite barter arrangement between the Government of Ghana and Sinohydro Corporation/the Chinese Government negotiated by the Vice President as part of his official visit to China last year. The 10,000 housing units for the security services under the Sinohydro project will be the largest single undertaking of its kind since independence, Vice President Bawumia announced at the ceremony, held at the National Police Training School at Tesano, Accra on Monday 13th August, 2018. “I would like to assure the Security Services that this project will not be the last. Government has reached advanced stages with Sinohydro Corporation Limited for the construction of houses and court structures for the Ghana Armed Forces, Ghana Police Service, Ghana Prisons Service, Ghana Immigration Service, Ghana National Fire Services and the Judicial Service.” All over the country, police personnel are not properly housed. Some live in rented civilian accommodation, scattered in towns and cities, which have the real tendency to hamper emergency mobilization of forces, efficient coordination and command effectiveness. Government, the Vice President, assured, is also working to address the national housing deficit, which is estimated to be in excess of 1.7 million units and could rise to 2 million by 2020, through the implementation of policies and programmes designed to create a functioning mortgage market. “The solution to Ghana’s housing deficit problem does not however depend on the public sector alone. The private sector is key. For the private sector to fill the gap, Ghana must have a functioning mortgage market with lower interest rates. “To accomplish this, Government is implementing a number of initiatives including the land registry digitization project, Digital Case tracking system for the courts, the National ID Card, the Digital Address System, and ensuring macroeconomic stability,” the Vice President indicated. Vice President Bawumia urged the Ghana Police Service to strive to meet the highest standards of professionalism in the discharge of their duties to the nation ass government works to address their accommodation and other challenges. Also present at the ceremony were the Minister for Interior, Hon Ambrose Dery; Minister for Works and Housing, Hon Samuel Atta Akyea; Inspector General of Police David AsanteApeatu; members of the Police Council, as well senior and junior officers of the Ghana Police Service.
Published in General News
The Government of the President of the Republic, Nana Addo Dankwa Akufo-Addo, has employed some twenty thousand (20,000) young men and women across the country to help manage the country’s forests, combat desertification, halt and reverse land degradation, and halt biodiversity loss. Speaking at the launch of the Youth in Afforestation Programme, on Monday, 13th August, 2018, at Jubilee Park, Kumasi, President Akufo-Addo stated that the launch of the programme is in line with the NPP’s 2016 manifesto commitment of reforestation, forest rehabilitation and forest protection activities. “That is why, today, we are deploying an army of twenty thousand young men and women who are going to help restore our degraded forests. The Programme, which has an initial two-year life span, will be extended based on satisfactory results,” he said. President Akufo-Addo was, nonetheless, confident that the initial phase of the Programme will be a success, and indicated that Government has already begun preparations for the second and subsequent phases of the programme. With some sixty thousand applications received by the Forestry Commission for employment, and with only twenty thousand recruited, President Akufo-Addo assured that all hope is not lost for the forty thousand unsuccessful applicants. “I am engaging with the Minister for Finance to seek additional funds to support this programme, so that these remaining applicants can be recruited. The Forestry Commission is also examining actively how it can also use some of its internally generated funds to support the programme,” he said. President Akufo-Addo reiterated the commitment of his Government to rolling out policy initiatives which will create jobs for the teeming masses of Ghanaian youth. He noted further that the importance of the Youth in Afforestation Programme should not be lost on anyone, as “what we make of our natural resources would be what determines our existence.” The President reaffirmed that his Government is in full support of every action that prevents forest degradation and deforestation, and also increased the country’s forest cover, citing the fight against galamsey as a case in point. “It is my hope that, in the next ten years, God willing, Ghana will be green again, as all trees, which are being planted today, will be nurtured to grow and increase the forest cover, and help us also to reduce emissions from deforestation and forest degradation,” he said. President Akufo-Addo urged the twenty thousand young men and women employed in the Programme to be diligent in the discharge of their duties, stressing that “all the trees you are planting today will go a long way to saving our lives and the lives of generations unborn,” President Akufo-Addo added.
Published in General News
An expert in security, foreign conflict and terrorism, Mr Adib Saani, has called on authorities to retool the police service with the needed resources to help them fight crime in the country. Many criminal elements he said have been emboldened over the years because they feel they can match the police boot for boot. These criminals he stated have sophisticated weapons that are far advanced than what the police are using to fight crime. Speaking in an interview with Nyankonton Mu Nsem on Rainbow Radio 87.5Fm, the expert underscored the need for the police to be armed with the necessary logistics to ‘’the teeth’’ so they can fight crime. He also touched on the need for the police to be given the needed tactical training to fight modern day crime. Mr Saani also advised the police to be circumspect when responding to crime. Armed robbery is a serious business and the best way the police can match such activities is to be tactical, he explained. The police service should also overhaul its training regime of police officers in line with 21st century modern crime fighting techniques to an appreciable level where we can restore some level of confidence in the police service, he suggested. He was reacting to the shooting of some four police officers at Zambra Line by suspected armed robbers. DCOP George Alex Mensah, the Greater Accra Regional Police Commander confirmed that the officers from the Accra Regional Operations Unit were caught unawares by the gunman. He said: "We are praying that the one who is in critical condition will also be well soon... From what we've heard it was not a shootout it was just an instant shooting at the policemen surprisingly because they thought they were going to get down and find out from the people over there what was going on, not knowing that, those people were armed already for the police officers. So, it was just a surprise shooting at the police officers". They have gone to the area after receiving a distress call from a resident. A civilian was also shot in an attempt to escape from the attack.
Published in General News
Businessman Alfred Agbesi Woyome has paid GHc4.6 million of the GHc51 million debt owed the state, the Controller and Accountant General has confirmed. The revelation was made at Parliament’s Public Accounts Committee sitting where the 2016 Auditor General’s report on the Consolidated Fund was scrutinised. Reporting from the committee sitting today [Monday] Rainbow Radio’s parliamentary correspondent, Afia Kwarteng said, the committee members wanted to know the progress made with regards to the repayment of the debt. They also questioned why the progress of the payment was not captured in the report. According to Afia Kwarteng, the Accountant General, Mr Ofosuhene in his response said: “we have a letter from the Auditor General’s office to support the payment. Paragraph 4 of the letter dated March 8, 2018, states ‘kindly find below a computation of payments made by Mr Woyome based on the terms of settlement and the proceeds from the garnisheed’. “Monies collected or recovered from the garnisheed order ¢167,565.62 and monies paid as a result of settlement is ¢4.5 million so the two sum up to the ¢4.667.566.62 million.’’ BACKGROUND The Supreme Court, in a review application on July 29, 2014, ordered Mr Woyome to refund the money because the contract upon which he received the payment had not been sent to Parliament for approval, contrary to the 1992 Constitution. In the case of the DCGL judgement debt, a tribunal constituted under the rules of the ICC in 2015 dismissed a $200-million claim filed against Ghana by two foreign-owned mining companies. The companies, the DCGL and the Continental Construction and Mining Company Limited (CCML), filed the action against the government in 2011 but the tribunal threw out their claims for lack of merit. It then proceeded to award $3,164,137.51 against the applicants and a further order for a refund of $700,000 to Ghana. Both companies had accused the government of unlawfully terminating their contracts, but the tribunal held a different view after taking the submissions of the parties into consideration. However, the tribunal upheld the state’s counter-claim for $700,000, being a World Bank loan that was lent to the two companies by the government. According to the tribunal, the government of Ghana, acting through the then Minister of Lands, Forestry and Mines, did not breach or unlawfully terminate the project agreement relating to the Dunkwa gold mine.
Published in General News
Page 1 of 3
  1. Popular
  2. Trending
  3. Comments

Calender

« August 2018 »
Mon Tue Wed Thu Fri Sat Sun
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31