Prof Emmanuel Dankwa, Counsel for Tsatsu Tsikata, former Chief Executive of the Ghana National Petroleum Corporation (GNPC), on Monday told a Fast Track Court (FTC) in Accra that his client has no case to answer.

Prof. Dankwa, who was making a submission of "no case" against his client after the prosecution had closed its case, prayed the court to acquit and discharge his client. The defence team, including Major R. S. Agbenotoh (Rtd), was expected to open its defence when the prosecution closed its case, but it stated at the last sitting that it intended to make a submission of no case.

"It is our submission that the prosecution has woefully failed to prove all charges levelled against us," Counsel submitted. Tsikata is being tried for allegedly causing the loss of more than 2.3bn cedis to the state and therefore, is charged with four counts of wilfully causing financial loss to the state and intentionally misapplying public property.

He has denied the charges and the court, presided over by Mrs Justice Henrietta Abban, an Appeal Court Judge, sitting with an additional responsibility as a High Court Judge, has admitted him to a 700m-cedi self-recognisance bail.

Quoting Article 19, Clause five of the Constitution to support his submission, Counsel pointed out that, "A person shall not be charged with or held to be guilty of a criminal offence which is founded on an Act or Omission that did not at that time take place and constitute an offence".

According to Prof. Dankwa, the evidence before the court was that the accused authorised Investment Holding Limited, a subsidiary of Merchant Bank, to make an investment of 20m Cedis in a company called Valley Farms from funds the Merchant Bank held on behalf of GNPC.

He added that evidence was further led to show that Tsikata signed the Guarantee Agreement for a loan to Valley farms on behalf of GNPC with an official of the French Government aid agency, Caisse Centralle de Developpement, which later came to be known as Caisse Francaise de Developpement.

He also submitted that GNPC itself benefited directly from financial assistance from Caisse Francaise de Developpement. Osafo Sampong, Director of Public Prosecutions (DPP), objected to most of the references counsel extensively quoted, with regard to evidence from witnesses and reminded him that the court had records on them.

The trial Judge then advised Counsel to dilate on the salient points that were relevant to the offence and urged him to be mindful of the laid down guidelines on submissions. The case was adjourned to Thursday, 31 January to enable the prosecution to reply to the submissions