Ghanaian media personality Austine Woode, has declared his unwavering commitment to addressing the controversies surrounding the Power Distribution Services (PDS) scandal until clarity is brought to light.Taking to the X platform, Mr.

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Woode expressed his frustration at the complex nature of the scandal, admitting that despite his efforts to raise awareness through verbal discussions, he has found it challenging to provide a comprehensive explanation in writing.However, he provided a link to provide more details surrounding the scandal."For years, I have spoken about the PDS scandal but unlike me, I've failed to write about it because it is so winding.

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I told myself I will need a video to explain it better but please read this below SINCE ALMOST everything is fact," he added.For years, I have spoken about the PDS scandal but unlike me, I've failed to write about it because it is so winding. I told myself I will need a video to explain it better but please read this below SINCE ALMOST everything is fact #GrandPDSTheft

Austine Woode (@obiMpenaAustine) March 19,

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2024 The PDS scandal, which sent shockwaves through the nation's energy sector, revolves around the abrupt termination of a concession agreement between the Government of Ghana and Power Distribution Services Ghana Limited (PDS).The agreement, aimed at transferring the management and operation of the Electricity Company of Ghana (ECG) to PDS, was abruptly canceled amidst allegations of fraud and contractual breaches.

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Despite extensive investigations and inquiries conducted by government agencies and international partners, the full scope of the scandal remains elusive to many Ghanaians.In July 2019, PDS was found to have submitted invalid insurance security for the takeover of ECG assets.

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Originally mandated to provide payment securities in the form of a demand guarantee or a letter of credit issued by a bank, PDS encountered difficulties in obtaining a bank guarantee. Consequently, they sought permission to utilize a demand guarantee issued by an A-rated insurance company.PDS then submitted payment securities in the form of demand guarantees issued by a Qatari insurance firm, Al Koot Insurance and Reinsurance.

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However, subsequent investigations revealed fabricated letters and forged signatures associated with these guarantees. Additionally, it was discovered that Al Koot lacked the financial capacity and authorization to issue such guarantees.

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