A United Kingdom-based arbitration court has awarded a cost of 160 million dollars against the University of Ghana in a matter involving the construction of some buildings for the university. The August 2 ruling indicated the University of Ghana’s claims that due diligence was not followed in its own contract with the project contractors was untrue.
The company, Africa Integras entered into the agreement with the University under the leadership of the former Vice-Chancellor, Prof Ernest Aryeetey. Upon assumption of office, Vice Chancellor Ebenezer Oduro-Owusu reviewed the deal and held that the agreement is inimical to the interest of the university and sought to pull the plugs on it.
However, the university’s argument during the arbitration did not find favour with the arbitrator as it was held that all due process was followed during the negotiation, contrary to the argument by the University. The university would now have to pay 160 million to the company in order to terminate the agreement.