Cedi rising because of motion for censure against Finance Minister – Speaker
Speaker of Parliament Alban Bagbin says the Cedi has gained some value against the US dollar following moves in parliament to remove Ken Ofori-Atta as Finance Minister.
According to him, the action being taken by the minority concerning a motion for a vote of censure against Ken Ofori-Atta, the Finance Minister, has begun restoring some level of confidence in the Ghanaian economy.
“Because of this motion, you know what has happened to the state of our Cedi. Just because people are given confidence that action is being taken, the Cedi gained some value, and parliament should be commended. It climbed from about 16 to a dollar to around 13, that is a serious gain for this country, and it’s because there is some confidence being given to the people that action is being taken to rectify the wrongs. Please let’s play our role properly and effectively, and at the end of the day, we’ll all benefit,” he told MPs on Thursday.
Meanwhile, he thanked the Deputy Majority Leader, Afenyo Markin, for drawing the attention of the House with regard to the proper procedure in filing the motion for a vote of censure against Finance Minister Ken Ofori-Atta.
“You’ve done well by drawing our attention, but I think the proper thing has been done, and we should leave it as it is. I know as we keep on jaw-jawing, we’ll do what is proper in this House.”
The deputy majority leader, Alexander Afenyo-Markin, had argued that the minority MPs failed to attach evidence to the motion to back their claims.
“Mr. Speaker, I beg to submit that the legal grounds or grounds for submission are not embedded in the motion. I am saying that Mr. Speaker, the motion is supposed to be advertised; that is what the constitution says. The constitution is not saying that you should accompany it with allegations as part of the motion; that is my contention. And if they beg to disagree, they should say so for the records to capture. And if there is any other provision that perhaps I have not read which allows you to state allegations, not fact, to support your motion, they should again draw my attention; we are here to learn. I’m not ashamed if I get it wrong, and I’m corrected. Mr. Speaker, I so submit.”
Minority leader Haruna Iddrisu however, rubbished the claim arguing there’s enough evidence to impeach Ken Ofori-Atta.
“We have made reference to constitutional provisions of Article 178, 176, and 82. Mr. Speaker to demonstrate with facts on this floor that the Minister is in breach of the law apart from the fact that he’s trashed the Ghanaian economy, we’ll do so. You cannot question the competence of the Speaker in admitting the motion. And we have not given you any fact, we are only giving you headlines of the matters to which we’ll lead with evidence.”
Members of Parliament on the Minority side have tabled a motion for a vote of censure on Ken Ofori-Atta, the Finance Minister, filed on Monday.
The minority cites the gross mismanagement of the Ghanaian economy which has occasioned untold and unprecedented hardship among others.
The motion was filed a day before parliament resumed from recess.