Madam Sophia Abena Boafoa Akuffo, the former Chief Justice and newly sworn-in member of the Council of State, has praised President John Dramani Mahama for honoring contractual agreements with bondholders.
She noted that the President’s commitment to upholding these agreements demonstrates his dedication to the rule of law.
Speaking to reporters at Jubilee House in Accra on Tuesday, February 18, 2025, following her swearing-in alongside 30 other Council of State members, Madam Akuffo explained that President Mahama’s approach to bondholder payments aligns with the law.
She emphasized that her participation in the picketing at the Ministry of Finance, along with other bondholders, was not driven by personal interests but by her legal obligation under the bond contract.
“I took part in the picket at the Ministry of Finance during the Akufo-Addo administration because the state had made promises to bondholders. When the terms were abruptly changed, it was an attempt to force new conditions on us,” she noted.
The former Chief Justice expressed her approval of President Mahama’s decision, stating that, in her view, it reflects his respect for legal commitments.
“The state had promised me something, and so I made my money available. Then, suddenly, they wanted to change the terms and force new conditions on me. No. That would never be, and I’m happy that the President has shown he is law-abiding,” she emphasized.
On Monday, February 17, 2025, the Ministry of Finance, following President John Dramani Mahama’s directive, paid GH¢6.081 billion in Payment-In-Cash (PIC) coupons to all bondholders participating in the Domestic Debt Exchange Programme (DDEP).
