Former Chief Justice Sophia Akuffo has praised President John Dramani Mahama for fulfilling the government’s obligation to bondholders by paying the money owed to them. She believes that the president’s actions were not only appropriate but fully aligned with legal standards.
Akuffo, in her statement, clarified that her earlier position on the matter was never motivated by personal gain. Instead, it was about upholding the integrity of the agreement between the state and the bondholders. She emphasized that the previous government’s attempt to alter the contract terms was unjustifiable.
Her remarks came after being sworn in as a new member of the Council of State. In addressing the media, she affirmed that her objection to the previous government’s stance was not a financial concern but a matter of principle. “The President’s action was in perfect order and in accordance with the law. The stand I took was not because of my pocket, but it was because I had a contract, a bond. The state had promised me something, and so I had made my money available, and then suddenly they wanted to change the terms of it and try to force new terms down my throat. No, that will never be. I was happy, and I am happy that the president has shown that he is a law-abiding president,” she said.
The payment, totalling GHS6.081 billion, was made to all Domestic Debt Exchange Programme (DDEP) bondholders following a directive from President Mahama. This payment honoured the Payment-In-Cash (PIC) coupon as part of the government’s commitment to meeting its financial obligations.
Sophia Akuffo was one of the pensioners who, during the previous administration, took to picketing at the Finance Ministry to demand that the government adhere to the original terms of their bonds.
Her public endorsement of President Mahama’s decision comes at a time when financial transparency and accountability are crucial to restoring trust in the country’s leadership. Akuffo’s voice is a reminder of the importance of upholding contractual agreements for the well-being of citizens, especially those who rely on their investments for retirement security.
