Ghana redeemed GHC1.27 billion debts by supreme court

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By: Norvisi Mawunyegah

Ghana cleared from paying GHC1.27 billion by supreme court as judgement debt to NDK Financial Services Limited. The firm claimed entitlement to the amount as judgement debt following a judgement by the Supreme Court.

A five panel judge presided over by chief justice Anin Yeboah of the supreme court solidly held that government only owed NDK Financial Services GHC14,689.75 as outstanding debt. The Court, ordered the state to pay the interest on the GHC14,689.75 at the usual bank rate commencing November 14, 2014 to the day of the final payment.

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The court said the full reasons for the judgement would be ready by June 4, this year, at the Court’s Registry.

The State, represented by the Attorney General, Mr. Godfred Yeboah Dame, opposed the NDK claims saying that all outstanding payment to the company had been dealt with.

In March 2019, the Apex Court appointed PricewaterHouse Coopers Ghana, an accounting firm, to ascertain the validity of the GHC1.27 billion claims of the NDK Financial Services against the Ministry of Energy.

It ordered the Attorney General and NDK Financial Services to prepare accounts for the Pricewater House Coopers to work with. Members on the panel were Justices Victor Jones Dotse, Paul Baffoe Bonnie, Sule Gbedegbe (Retired), and Nene Amegatcher