The Vice President, Mr John Dramani Mahama has admitted making commitments to a Chinese firm, Pierson Capital Group, to use the oil revenue as collateral.
The admission is a turnaround from an earlier denial of the allegation made by MP for Manhyia, Dr. Matthew Opoku-Prempeh.
Aide to the Vice President, John Jinapor had earlier told the media that his boss knew nothing about the letter the MP produced at a press conference as evidence.
He doubted the source and questioned the authenticity of the letter, indicating the case will be reported immediately to the Criminal Investigations Department of the Ghana Police for investigations. He swore he had spoken to the Vice President who denied signing the letter Mr Mathew Opoku Prempeh tendered in as evidence at his press conference.
In a sharp u-turn however, Mr. Jinapor says further checks conducted indicate the Vice President had indeed made such commitments as contained in the letter.
He however emphasised that assurances were made that the commitments were only implementable subject to Parliamentary approval.