GNPC Board Chairman Freddie Blay dismisses calls for resignation amid stake sale controversy

Mr. Freddie Blay, the Chairman of the Ghana National Petroleum Corporation (GNPC) and former New Patriotic Party (NPP) chairman has responded to the demands from some Civil Society Organisations (CSOs) urging him to step down.

The calls for his resignation came after the GNPC announced plans to sell a 50% stake in Jubilee Holdings Limited (JOHL) to PetroSA.

CSOs demand removal of GNPC Board Chair and CEO over controversial stake sale

Mr. Blay firmly asserted that he had committed no wrongdoing in the deal and saw no grounds for his resignation. In an interview with Citi FM, he emphasized that his conscience was clear regarding the share sale and that he would only step down if the president, who appointed him, no longer wished to work with him.

While acknowledging the possibility of being dismissed, Blay questioned the basis for the demand, stating, “I don’t see any reason why they are saying I should resign about this issue. I have done nothing wrong.” He expressed his belief that he acted in the country’s best interests and would stand by his convictions.

Mr. Blay also disclosed that he had discussed the matter with President Akufo-Addo. However, he clarified that the president had not indicated any intention to request his resignation. Mr. Blay asserted that the law would ultimately determine the outcome, and he expressed confidence in the legal process, mentioning the existence of relevant documents related to the agreement.

Regarding reports of a strained relationship with Energy Minister Mathew Opoku Prempeh, Blay denied any significant differences that could negatively impact Ghana’s interests. He noted that while both individuals held strong opinions, they had recently engaged in constructive discussions.

“I don’t think we [he and Mr. Prempeh] have any differences that are so serious that they are detrimental to the interest of Ghana. You know, NAPO has strong opinions, and I am also a little determined when I am talking about anything that I know of. We met today and we exchanged ideas brightly.”

On Tuesday, May 23, during a press conference, the 29 CSOs called for the removal of Opoku Ahweneeh Danquah, the CEO of GNPC, and Mr. Freddie Blay as the Board Chairman. The CSOs alleged that Blay, in his capacity as Chairman, had written to PetroSA, proposing an equal split of the interest held by GNPC’s subsidiary, Jubilee Oil Holdings Ltd.