The Presidential candidate of the Great Consolidated Popular Party (GCPP), Dan Lartey, has intimated that Mr. Tsatsu Tsikata, former Chief Executive of the Ghana National Petroleum Corporation (GNPC), is not to be blamed by the government for the debt incurred by the GNPC as a result of its transactions in derivatives.
“Until the government has been able to fully establish the fact that Mr. Tsikata is responsible for the debts incurred by the GNPC, it is not justifiable to hold him accountable,” Mr. Lartey emphasised.
The issue of the huge financial loss, which has bedevilled the GNPC, has generated controversy recently with the NPP government and Mr. Tsikata trading counter accusations and rebuttals through news conferences. The Corporation is said to have owed Societe General about $40 million Credit Swiss Financial Products about $19 million dollars.
Speaking to NETWORK HERALD, Mr. Lartey said the matter as presented by both parties appears murky and so it is very difficult to pass judgement.
He however pointed out that it is not right to hold Mr. Tsikata responsible instead of the GNPC since whatever he did was in the name of the Corporation. He noted that in business, one either makes profit or loss and so it is no big deal for someone to incur a loss in a business transaction.
Mr. Lartey said what the government needs to do is to find proof of mismanagement against Mr. Tsikata to implicate him of the loss and since it has failed to do this, there is no reason to make noise about it.
Source: GhanaWeb
