Last updated on Friday, 12th March, 2010, at 06:00am
Confirmed: Kofi Wayo imported crude oil for Ghana
By Samuel Osei/citifmonline.com | Wed 04th November, 2009 12:52 GMT
Charles Kofi Wayo

Citi News has confirmed from its sources at the Tema Oil Refinery (TOR) that maverick politician Charles Kofi Wayo imported 5000 metric tons of Crude oil to Ghana earlier this year to help offset shortfalls in petroleum products on the domestic market.

The source disclosed that in July and August this year TOR processed two small consignments of Crude Oil for the domestic market; dispelling the belief that TOR had not refined Crude for close to a year. 
 
In addition to the 5000 metric tons of crude oil imported by Kofi Wayo, TOR also processed another consignment of 7000 metric tons to help offset the shortage of the products on the market. 
 
Charles Kofi Wayo, a Board Member of the Energy Commission had told Citi News that he imported some consignments of Crude after major decision makers doubted his capabilities of striking a deal for Ghana. 
 
He said even though he proved his critics wrong, some government officials still thwarted his efforts by denying to grant him bank guarantees so he could bring in larger consignments of Crude at a much cheaper cost to the state.
 
“I brought them oil and then the president authorized them to give me a guarantee. Instead of giving me the guarantee, they took that authority and went to do their own business with Sahara…I know they would fight Atta Mills if he wants to deal with me because they want their bribes, they are used to it and I know they are not prepared to give it up.” He said. 
 
Many Ghanaians however doubted Kofi Wayo’s story dismissing it as bogus and self serving. 
 
However Citi News investigations at TOR have corroborated Mr. Wayo’s story and have revealed that the Crude was refined between the 12th and 18th of September this year.
 
There is however no evidence yet to substantiate Mr. Wayo's claim that the Energy Minister and the Management of TOR sidelined him in favour of Sahara Oil despite President Mills' directives that the two officials secure a bank guarantee for him to facilitate his efforts to secure crude for the country at very cheap rates.
 
 
Latest Comments
Posted by Michael, Accra
@ 09:20:32am on Monday 01st February, 2010
Wayo you are great
I know that all the Kofi wayo has been saying he is capable of doing it. Ghanaians should give me the chance and lets see what he has under his sleevs. Go for it my man. I believe you can do something to help this government
Posted by ofosu tibu, accra
@ 05:10:55pm on Tuesday 12th January, 2010
kofi has done it
what is oscar saying? does he know the oil situation in our country? these are some of the people who want to sit somewhere and tell us what they have read in books.why don't oscar come down to ghana and experience what we call "gift". kofi wayo is walking the talk.we should give credit where it is due!!!!!
Posted by Oppong Boateng, Takoradi
@ 06:58:33am on Thursday 10th December, 2009
Mills works from Jubilee House
What happens to the Ministry of Foreign Affairs?Willthe co-host the Presidency?
Posted by Oppng Boateng, Takoradi
@ 06:51:59am on Thursday 10th December, 2009
Kofi Wayo Imported Crude Oil to Ghana
Congrats Kofi.You have proven to Ghanaians that, when giving the nod you can live up to expectation
Posted by Oscar, London
@ 09:18:30am on Wednesday 04th November, 2009
Conflict of Interest
It is sad to read this news because the president and his boys forget about basic principles of corporate governance.The fact is Kofi Wayo is a board member of Energy Commission that has oversight responsibility over TOR and other utility institutions in the country. Now, for a board member to procure crude oil as part of his personal business activities amounts to conflict of interest and abuse of office for a member of a board. Even if he is contracted by the president or TOR it is still conflict of interest. So for the president to order a release of letter of credit to Kofi Wayo was also a breach of his executive fuduciary duty. He should have known that. Also, the minister and the other board members were right not to heed to the president's demand because that would have been a dissaster. The board is responsible for procurement and not the president. So Kofi Wayo and the president should have known better. The attitude of the president will always continue to cast doubt on his competence as a law professor. Many will believe that passing exams should not be the best tool for judging competence. This is a disgrace and if it is true, then Ghanaians are doomed by the government.