Three members of the Minority in Ghana's Parliament have filed a new complaint against Franklin Templeton in Luxembourg  on a "dubious $2.25bn ken bond,"the opposition National Democratic Congress has revealed. 

Dr Dominic Ayine, Samuel Okudzeto Ablakwa and Isaac Adongo have filed a whistleblower complaint with the regulator in Luxembourg known as the Commission de Surveillance de Secteur Financier (CSSF).

The action of the three legislators follows the NDC's investigations which suggest Franklin Templeton used a subsidiary company registered in Luxembourg to purchase the $2.25 billion bond.

Speaking at a press conference on Wednesday, the NDC said  the latest move is to satisfy additional jurisdictional issues since their investigations have revealed that though Franklin Templeton was registered in the United States of America, it appears it used a subsidiary company registered in Luxembourg to isurchase the $2.25 billion bond.

"Based on the sordid state of affairs, the Minority has taken a number of consequential decisions.  We have resolved to continue to pursue our petition at the Securities and Exchange Commission (SEC) of the United States of America with renewed vigor," a statement read by the minority leader Haruna Idrissu indicaed.

"Already, we are pleased with the interest and seriousness with which the SEC of the USA is acting upon our petition having recently appointed a respected case manager – Jennifer Carr to spearhead investigations."

"We can now reveal based on our investigations that though the parent company Franklin Templeton was registered in the United States of America, it would appear it used a subsidiary company registered in Luxembourg to purchase 95% of the bonds.

"Hence to satisfy additional jurisdictional issues, based on this revelation, a group of Minority MPs comprising Hon. Dominic Ayine (Dr.), Hon. Samuel Okudzeto Ablakwa and Hon. Isaac Adongo have filed a whistleblower complaint with the regulator in Luxembourg known as the Commission de Surveillance de Secteur Financier (CSSF) which has begun looking into the matter."

The Minority is also considering the option of going to the Supreme Court to ask for determination under Article 181(5) of the Constitution, according to Cassiel Ato Forson

"Back home, we continue to lend our support to the petition before the Commission on Human Rights and Administrative Justice (CHRAJ) and the writ filed at the Human Rights Court seeking to compel the Finance Minister to provide all the information covering this transaction."

"Both actions initiated by Messrs Brogya Gyemfi and Lawyer Victor Adawudu have our fullest support and it is our expectation that these state institutions will act expeditiously and in the interest of justice as they have done in time past."

By Fiifi AAbdul Malik