Sammy Gyamfi, the National Communications Officer of the opposition National Democratic Congress (NDC), has announced that if the NDC secures the next government, they are prepared to investigate Vice President Dr Mahamudu Bawumia‘s involvement in the Power Distribution Service (PDS) scandal.
The PDS scandal, revealed in July 2019, exposed the presentation of invalid insurance security for the takeover of ECG assets. The initial requirement was either a demand guarantee or a letter of credit issued by a bank.
Gyamfi accused Dr Bawumia of corrupt practices, claiming that he diluted the requirement from a bank guarantee to an insurance guarantee, changing it from a condition precedent to a condition subsequent in the contract.
“Bawumia’s role in the stinking PDS scandal, in which he watered down the requirement of a bank guarantee to an insurance guarantee, and changed it from a condition precedent to a condition subsequent shows he is corrupt,” Gyamfi asserted.
He further dismissed Dr Bawumia’s claim of being incorruptible, stating, “The claim by Bawumia that he is not corrupt must be treated with contempt.”
Gyamfi emphasized that Bawumia would be held liable and accountable for his alleged role in the PDS scandal by the government of President Mahama in 2025, highlighting the financial losses and unpaid electricity bills associated with the scandal.
The PDS deal was terminated in 2019 after it was discovered that the company had presented invalid insurance security, leading to fabricated letters and forged signatures from a Qatari insurance firm, Al Koot Insurance and Reinsurance.
The government also highlighted Al Koot’s lack of capacity and authorization for such transactions.
