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Ghana hit with another judgment debt; Over $70m to be paid to WAGL

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Ghana has been hit with another huge judgment debt as the country is set to pay over 70 million dollars to West Africa Gas Limited after a ruling by the London Court of Arbitration.

The dispute came after the termination by the Claimant, West Africa Gas Limited of a Gas Sales Agreement dated 9 October 2015 between WAGL and the Republic of Ghana.

This latest judgment debt comes after the country was hit with over 170 million judgment debt after a power contract agreement between the government of Ghana and GCGP was wrongfully terminated.

Documents available to Starrfm.com.gh reveals that West Africa Gas Limited decided to terminate the contract after what they claim were impediments put in their way by the government of Ghana which made it difficult for them to execute the contract.

The West Africa Gas Limited initially sought a Recovery Fee in excess of US$ 1,000,000,000 but subsequently reduced its claim.

At a ruling in January 2021, the London Court of Arbitration declared as follows;
i. The Respondent do pay to the Claimant the sum of US$ 68,584,623.37 as the
Recovery Fee under the GSA.

ii. The Respondent do pay the Claimant simple interest on the sum awarded in (i)
above from 22 April 2019 at the annual rate of 6.5% until payment.

iv. The Respondent do pay the Claimant’s Legal and Other Costs in the sum of
£200,000.

v. The Respondent do pay the Claimant the Arbitration Costs in the sum of
£153,108.88.

v. The Counterclaim is dismissed.

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vi. All other claims, including the claim for a declaration and counterclaims are
rejected.

Attached is the full judgment debt

194422-Final-Award-210115-1-1

Source: Starrfm

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Universities Offering Business Administration In Nigeria

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Have You Been Searching For The List Of Universities Offering Business Administration In Nigeria?, Federal Universities That Offer Business Administration In Nigeria And Their Cut-Off Mark?. State Universities That Offers Business Administration And Their Cut-Off Mark?, Private University Offering Business Administration In Nigeria? What Are The Subject Required For Business Administration?. If Yes, then this […]

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What Kind Of Business Can I Start As A Student?

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Have you been asking; What Kind Of Business Can I Start As A Student? What Business Can A Student Do To Make Money in Nigeria? What Business Can I Start With 50k As A Student? What Can I Sell As A Student To Make Money? What Business Can I Start With 20k As A Student In Nigeria? Is It Possible To Run A Business While Being A Student? Which Business Is Best For Students? Are you a student? Have you been searching for Business Ideas for Students in Nigeria?  How To Start Your Own Business As A Student? Lucrative Business

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Samira also announces refund of all allowances received since 2017 to the State

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Second Lady Samira Bawumia has announced that she will refund all allowances paid her since 2017, when her husband became the Vice President of Ghana.

A statement issued by her office on Tuesday, July 13 also indicated that Mrs Bawumia will not accept any monies allocated her as per recommendations by the Professor Yaa Ntiamoa-Baidu Committee.

“Mrs Bawumia continues to be committed to the service of the nation,” the statement noted.

It added that she stays committed “to deliver humanitarian interventions and initiatives in the areas of health, education and economic development”.

This comes a few hours after First Lady Rebecca Akufo-Addo also gave up all allowances received since 2017.

She stated that the decision comes in the wake of the negative views that have been expressed against the approval of the payment of salaries to First and Second Ladies in Ghana.

“The First Lady has taken note of the ongoing conversation in the nation , following on from recommendations and the bipartisan approval by Parliament , as mandated by the Constitution as the body which approves the emoluments of the Executive,” her office said on Monday, July 12.

“It is important to state  that payment  of such allowances existed and was made to previous First Ladies  in the course of the 4th Republic , prior to Mrs Rebecca Akufo-Addo becoming First Lady , Mrs Akufo-Addo did not  request to be paid any allowance . She only received that which existed and attached to her status , albeit informally.

“That not withstanding , the public discussion has been laced with some extremely negative opinions , in some cases, which she finds distasteful , seeking to portray her as a venal, self-serving and self-centered woman who does not care about the plight of ordinary Ghanaian.

“In view of this the First Lady , in consultation with the President of the Republic has decided to refund all monies paid her as allowances from the date of the President’s assumption of office i.e from January 2017 to date , amounting to GHS899,097.84.”

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