He made the statement with reference to a Kumasi High Court order to FREDCO FD Company Limited, a sub-contractor of the Kumasi Metropolitan Assembly (KMA), to sell the Assembly’s administration building to defray a judgment debt of almost GH¢5 million.
Speaking with Agudey on Opemsuo radio’s Morning show Nkwantananso on Thursday, September 30th, 2021, the Presiding Member stated that the Assembly is yet to meet with the management of FREDCO FD Company Limited.
“To pay off such debts, we have been relying on Internal Generated Fund. We are currently in financial difficulties, and if no precautions are taken, we will be forced into insolvency”, he added.
According to the Presiding Member, it will take the Assembly 25 years to pay their numerous judgment debt without a project or programme.
Content created and supplied by: generalconcept1 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More