The Executive Chairman of the McDan Group, Dr Daniel McKorley has backed claims that President Akufo-Addo was misled into granting executive approval to the controversial novation and amendment AMERI agreement.

The novation and amendment agreement, seeking to buy out the $510million deal Ameri Energy has with the government and be handed over to a third party Mytilineos for 15 years received approval from President Akufo-Addo by way of an Executive Order on July 31 after parliament refused to ratify it.

The joint committee on Finance and Energy of Parliament rejected the new deal because it had no signatures from the Attorney General and Finance minister.

Under the new agreement, the new company, Mytilineos International Trading Company, will take over the management of the AMERI power plant for 15 years.

The new company has offered to pay AMERI an amount of $52,160,560, with the government paying the remaining $39 million to the Dubai-based AMERI Energy to wash its hands off the deal entirely.

However, it emerged that President Akufo-Addo was misled by his Energy Minister Boakye Agyarko into approving the new agreement, which has been described by the Minority in Parliament and other energy think tanks including African Centre for Energy Policy (ACEP) as “stinky” and “rip-off.”

Mr Agyarko has since been sacked from and the novation and amendment Ameri agreement cancelled.

Speaking Wednesday on Starr Chat, Dr McKorley stated that the backlash the presidency suffered when it emerged President Akufo-Addo was misled into giving the executive approval prepositions the deal was unnecessary.

“He is the president. If you are a Chief Executive you would understand what it takes to make that pronouncement. A lot of people might wrong him but with me looking at my position, I believe in my lieutenants. So if my lieutenant comes to me and said I went through it [and] this is what it is, I believe you,” Dr McKorley told Starr Chat host Bola Ray.

Asked so if he believed the President did nothing wrong in the controversies surrounding the suspended agreement, he replied, “The President did the right thing.”

Source: Ghana/