Supreme Court to rule on case seeking to stop gov’t from issuing T-bills today

The Supreme Court will rule today February 25, 2025, on a case filed by private legal practitioner Jonathan Amable, who seeks an injunction to stop the government from issuing Treasury Bills without prior parliamentary approval.

Amable’s application, filed on November 11, 2024, argues that under the Financial Administration Act and Bank of Ghana Amendment Act, government borrowing must receive parliamentary sanction because it creates repayment obligations.

The plaintiff’s lawyers assert that issuing a new Treasury Bill on November 22, 2024, would be illegal.

The case names Attorney General Godfred Yeboah Dame as a defendant. The ruling could affect government plans to raise about 78 billion cedis in new borrowings in 2024, including 10.8 billion in the final quarter, as Treasury Bills are a major revenue source.