Member of Parliament for Bawku Central, Mahama Ayariga, has taken legal action against Finance Minister Ken Ofori-Atta, questioning the legality of establishing the Ghana Financial Stability Fund (GFSF).
In his lawsuit, Ayariga contends that the Fund was established without proper parliamentary approval, constituting a violation of Ghana’s constitution.
Ayariga is also seeking a court order directing the Ministry of Finance to create the Ghana Financial Stability Fund through an explicit Act of Parliament.
He is further praying the court to enjoin the Ministry of Finance from implementing or utilizing the current “Operational Framework of the Ghana Financial Stability Fund (GFSF) for the administration, disbursement, withdrawal, or recovery of funds.”
The MPs reliefs 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 enjoining the Ministry of Finance from implementing or utilizing the current “Operational Framework of the Ghana Financial Stability Fund (GFSF) for the administration, disbursement, withdrawal, or recovery of funds, as it is illegal and unconstitutional.”