The Office of the Special Prosecutor (OSP) has intervened in the proposed partnership agreement between the Tema Oil Refinery (TOR) and Tema Energy Processing Limited (TEPL), directing TOR’s management to suspend the deal.
The decision comes in response to vehement opposition from TOR staff and the General Transport, Petroleum, and Chemical Workers Union, who raised concerns about the agreement’s transparency and potential for corruption.
Under the proposed deal, TOR would lease its facilities to TEPL for USD 22 million over six years, with the expectation of refining eight million barrels of fuel. However, both TOR workers and the minority in parliament rejected the agreement, prompting the OSP’s involvement.
The Union’s Chair, Bernard Owusu, expressed satisfaction with the Special Prosecutor’s swift action, stating that the probe is likely to reveal discrepancies as indicated by the workers’ group.
“We are hopeful and very happy that the OSP has taken the matter seriously as they have moved into action as quickly as they can. It is commendable.”
Bernard Owusu
Owusu emphasized the union’s belief in the existence of corruption, collusion, and conflicts of interest in the dealings of TOR and TEPL. He expressed confidence that the investigation would uncover these issues and lead to the prosecution of those found culpable, serving as a deterrent for future misconduct.
Speaking on behalf of the General Transport, Petroleum, and Chemical Union, the national chairman emphasized the importance of transparency in such deals, particularly when it involves the country’s only state refinery. He stressed that transparency ensures that interested parties express their intentions openly, and the process is open for public scrutiny.
The chairman raised concerns about the creation of companies in secrecy and criticized the lack of transparency in the formation of TEPL. He highlighted the necessity for advertisements and public awareness to foster an open and fair process for investments in national assets.
OSP Initiates Corruption Risk Analysis
The OSP’s directive to TOR’s management, outlined in a letter, specifically instructed the suspension of the proposed partnership agreement.
“You are directed to immediately suspend the proposed partnership agreement, ongoing negotiations, operations, and all other ancillary activities arising out of and consequent upon the proposed partnership agreement until you are otherwise advised by the Special Prosecutor.”
Kissi Agyebeng
The OSP has also initiated an analysis of the corruption risks associated with the proposed partnership, signaling a thorough investigation into the matter.
Earlier, the General Transport, Petroleum, and Chemical Workers Union petitioned the Special Prosecutor, urging an investigation into the lease agreement between TOR and Torentco Asset Management Limited, now TEPL. In their petition, the union raised concerns about potential inducements, misrepresentation, and compromise of TOR’s Board of Directors.
The workers’ union expressed fear that the country might be shortchanged in the deal, particularly given the alleged compromise of TOR’s Board of Directors. They cited other proposals from entities like Falcon American Oil and Legacy Capital, questioning the insistence on leasing to TEPL despite apparent red flags.
The investigation is indicative of the critical role of transparency and accountability in national agreements and highlights the vigilance of workers and unions in ensuring the fair treatment of national assets. The outcomes of the investigation are anticipated to shed light on the integrity of the proposed partnership and the adherence to ethical standards in such crucial transactions.
Moreover, the increasingly active role taken in such matters by the Special Prosecutor is deserving of commendation. However, the OSP must bring these allegations to a logical end. Recently, too many of such investigations by the Office of the Special Prosecutor do not go to a satisfactory end for most citizens and petitioners.
Should that pattern continue, citizens may lose confidence in the OSP.
READ ALSO: Speaker Defends Ghana’s Sovereign Against IMF Pressures
