Accra, June 18, GNA - An Accra Fast Track High Court on Wednesday refused an application for bail made by the jailed Former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Tsatsu Tsikata to enable him to file the necessary papers for an appeal.

Tsatsu, who made the application himself by reading from notes he made while judgement was being delivered, said the bail would also enable him to contact his Lawyer, who had travelled out of the country.

"The application for bail is refused," Mrs Justice Henrietta Abban, the trial judge, said. "You have the right to appeal against the decision of the court," she added.

The Court earlier sentenced Tsikata to five years' imprisonment for wilfully causing financial loss to the State and misapplying public property.

He was found guilty on three counts of causing financial loss to the State and one count of misapplying public property and jailed for five years on each count. The sentences will run concurrently. He pleaded not guilty and was on a self-recognisance bail.

Mrs Yvonne Attakora Obuobisa, Principal State Attorney, in the company of Joe Ghartey, Attorney General, opposed the bail application. She said there was no notice of appeal before the Court, adding he could not "put something on nothing".

Mrs Obuobisa said even if there was an appeal, that should apply in special or unusual circumstances including the likelihood of success. However, she said, the appeal was likely to fail.

Tsatsu was charged with three counts of wilfully causing financial loss of GH¢230,000 (2.3 billion cedis) to the State through a loan he, on behalf of GNPC, guaranteed for Valley Farms, a private company, and another count of misapplying public property.