Government respond to frozen account saga

Government says it still has access to two of its critical accounts despite reports of it being frozen.

The Consolidate Fund and Treasury Single Accounts are said to have been frozen following the state’s inability to settle a judgement debt reaching GHC300 million to Non- Bank financial Institution, NDK.

This has led to concerns that government might have some problems in paying salaries of public sector workers and meeting other commitments.

But speaking on JOYBUSINESS Deputy Finance Minister, Mona Helen Quartey says government has not received any communication that the accounts have indeed been frozen.

She said the court case has not been executed and government business is going on “as usual and we are using all our accounts that we need for operation.”

“We have not had any such impact and there is no need for anyone to be concerned because government would not just sit back to allow anyone to freeze its account…you cannot hold the sovereign to ransom,” the Deputy Minister said.

But a source close to NDK financial services, say he is aware that the Bank of Ghana has written to the Controller and Accountant General’s Department over its decision to enforce the court ruling by freezing the accounts.

It is not clear for now whether government could be cited for contempt if indeed it is drawing from these accounts.

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