Govt clears legacy debts to bulk oil distributors – Senyo Hosi reveals

Govt clears legacy debts to bulk oil distributors – Senyo Hosi reveals

The government has fully paid off its indebtedness to bulk oil distribution companies (BDCs) that accrued between 2011 and 2015, the Chief Executive Officer of the Chamber of Bulk Oil Distribution Companies, Senyo Hosi has revealed.

According to Mr Hosi, the final payments, which included interests accrued on the debt, was done on January 13, 2020, through bonds issued by the Energy Sector Levies Act (ESLA) to the Legacy Bonds Limited, a special purpose vehicle jointly owned by the Ghana Chamber of Bulk Oil Distributors (CBOD) and the Ghana Association of Bankers (GAB).

A press statement from CBOD issued Monday [February 10, 2020) said the amount received was now due for redistribution to beneficiary banks and petroleum service providers.

 

Source: graphic.com.gh

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