Ghana's hidden treasure in Switzerland

Youth Activists call for gov’t intervention…in retrieving $bn from UBS

Friends of Oman Ghana Trust Fund (FOGTF), a youth activist group has called on the political leadership of the country to intervene and help to retrieve a chunk of money which is under safe keeping at Union Bank of Switzerland (UBS).
In a discussion with a group of media practitioners in Accra yesterday, the group contended that the Fund was set up by Dr. Kwame Nkrumah and Dr. W.E. B Dubois in 1957 and it was meant for development projects in 27 sectors of the Ghanaian economy, including communications, roads, housing, education, health and farming among others.
According to the group, the fund, which is in safe keeping under the Swiss bank (UBS), first matured in 1975 and increased in 1986 to the tune of $400billion? However, due to some human error on the part of the Ghana government, access to the fund has become difficult, whiles interest keeps accumulating on the seed money.
The Country Director of the Country Awards Council -Ghana, His Awardship Kobla Asamani, in his explanation noted that the investment portfolio in UBS has 7 accounts, including a current account consisting of $47 billion which can be accessed at the bank (UBS) and can be operated by a code number and a word.
According to him, after several failed attempts by government officials, there is only one Survivor who has access to those code numbers and word, and it would therefore be prudent for government to engage him in accessing the money for development projects in the country.
He said the group showed keen interest in demanding government’s support in retrieving the money, because “the money belongs to Ghana and we want to see Ghana developed to a middle income status country”.
He contended that the Fund is operated by a sole Trustee, who is the sitting President of Ghana and the sole beneficiary is the people of Ghana, who can also be represented by any person appointed by the President in retrieving the money.
The group averred that ever since the issue came to the fore, government has investigated the issue and is fully aware that the money exists. The group was, however, worried about the research findings by the legal board of the Finance Ministry, which has not been presented to the President. To this effect, the group demanded that the research findings be presented to President Kufuour in order to facilitate the speedy recovery of the fund.
The group pleaded that government should partner Mr. Gregory Fraizer, the only survival who has access to the codes and password to the Fund in order to help assist in the recovery of the money. The group believes that Gregory Fraizer, who is an African American, is the only one who can aid the country in having access to the Fund.
“The money could be retrieved if only we follow the right mechanics”, noted Kafui Deiba, a member of the group.
Meanwhile, in a letter dated July 20th 2007, and addressed to the then Minister of National Security, Mr. Francis Poku by Gregory Frazier, he outlined how the money could be reclaimed, and he promised government of his unflinching support towards the retrieval of the money.
“Mr. Opoku, on my honour, I will not disappoint you or the People of Ghana, I implore you to give me one chance to serve. I have seen the deceptions and object stupidity that has caused the past failures. If I fail, I am prepared to be jailed for lying to government officials, and I will sign a Bond to that effect with your National Security Agency. I will not fail”, he added in the letter.
The group therefore have decided to embark on a peaceful nationwide demonstration if government fails to adhere to their request, which they believed is in the interest of the country.