We have, this year, budgeted for about 80 billion cedis
to subsidise water and electricity for those who consume at the lower end--i.e., the poor.
The real problem facing Kufuor is the health of the national currency, the Cedi
. It is back to its yo-yoing days.
The paper established that for well over two weeks, a certain Alhaji, a customer, had been calling Jaffah with a request to supply him with the cedi
equivalent of US$90,000.
Some of these royalty payments run into billion of cedis
. This, to us, is enough for chiefs to deal with any financial impenetrability.
If these chiefs are to be paid the same amount as members of Parliament (MPs) are currently receiving, the government would be compelled to fork-out thousands of Ghana cedis
every month to take care of them.
It would be recalled that the fund experienced some serious challenges with its customers after Groupe Nduom's major business, GN Bank, became a Savings and Loans Company when it failed to meet the Bank of Ghana's new minimum capital requirement of 400 million cedis
Alex Frimpong, explained at the meeting that by the Special Compensatory Pay, the company owes the ex-workers millions of cedis
, and that they will compel it to pay them accordingly.
If it is true, the authority has lots of questions to answer for deliberately putting lives into danger for a few cedis
in their pockets.