In a lawsuit filed against Finance Minister Ken Ofori-Atta, Bawku Central Member of Parliament Mahama Ayariga is contesting the legitimacy of the creation of the Ghana Financial Stability Fund (GFSF).
Ayariga contends in his lawsuit that the GFSF was created in defiance of Ghana’s Constitution by without receiving parliamentary permission.
He is asking for an order compelling the Ministry of Finance to create the Fund by enacting a specific parliamentary act.
Additionally, Ayariga is pleading with the court to prevent the Ministry of Finance from executing or making use of the existing “Operational Framework of the Ghana Financial Stability Fund (GFSF) for the administration, disbursement, withdrawal, or recovery of funds.”
The MP’s reliefs packages include: “An order directing the Ministry of Finance to establish the Ghana Financial Stability Fund (GFSF) through an express Act of Parliament, outlining clear legal stipulations regarding its administration, mechanisms for disbursing funds, and procedures for fund recovery, in accordance with articles 93(2), 108, 175, 176, 178, and 179 of the Constitution of Ghana.”
An order declaring that it is unlawful and unconstitutional for the Ministry of Finance to administer, disburse, withdraw, or recover monies using the existing “Operational Framework of the Ghana Financial Stability Fund (GFSF).”
Prior to this, Mahama Ayariga had chastised the Finance Minister for creating the Ghana Financial Stability Fund (GFSF) without the consent of parliament.