John Jinapor, the Member of Parliament for the Yapei-Kusawgu Constituency and also a member of the Energy and Mines Committee of Parliament has asserted that the first consignment of the gold for oil policy was bought with money from the Bank of Ghana.
He made this assertion in an interview hosted by Naa Dedei Tettey on Starr FM which was monitored by 1Family Radio. According to him, parliament has not been briefed on the transaction for the gold for oil policy.
John Jinapor stated that the Energy and Mines Committee of Parliament is not aware of this transaction. They got to know that the government wants to engage in a program where the gold of the country will be exchanged for oil from a public statement by the Vice President. According to the Vice President, currency will not be used in the exchange.
The first consignment of the gold for oil program was received by the country few weeks ago. According to the lawmaker he head Mr. Andrew Egyapa Mercer, the deputy Minister for Energy confirming that the first delivery of the oil was not purchased with gold but rather with cash from the Bank of Ghana.This statement from the minister obviously contradicts whatever the Vice President announced. The minister also confirmed that there was a negotiator.
According to John Jinapor, there is no need for a negotiator in a barter trade. This is because in a barter trade it is just an exchange of commodities therefore once there is a negotiator, it stops being a barter trade. This means the gold was sold and not exchanged.
John Jinapor concluded that the gold for oil program is a preconceived agenda from the office of Dr. Mahamudu Bawumia .The purpose of this is to extract the country’s gold from the authorized gold exporters and sell it via a negotiator and use the money to purchase oil.