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National Democratic Congress (NDC) Member of Parliament for Ningo-Prapram constituency, Samuel Nartey George has called the bluff of The Ghana Real Estate Developers Association (GREDA) for asking him to retract and apologize for his "unguarded and irresponsible utterance" about the sector.

The Member of Parliament(MP) for Ningo-Prampram, Sam George has voiced scepticism regarding the legitimacy of numerous real estate businesses in Ghana.

In an interview on JoyNews' Newsfile, he asserted that the real estate industry is often used as a front for money laundering activities.

According to Mr George, individuals employ real estate ventures as a means to "clean" illicitly acquired funds.

GREDA in a statement on Tuesday demanded an immediate unqualified apology and retraction of this unfortunate statement within 7 days otherwise they will seek redress.


Read Samuel George's full response to GREDA

I have taken note of a statement issued by the Executive Council of GREDA demanding an Immediate unqualified apology and retraction of comments I made on the Joy 99.7FM Newsfile edition of Saturday, 22nd July 2023.

Let me start by stating that I have absolutely no intention to render an apology, qualifled or not, nor make any retraction. As a public office holder, I am minded first by my fidelity to the truth, my conscience and the general wellbeing of the Ghanaian people. These considerations in my opinion supersede the whims of any individual or specific grouping.

It is shocking that an assoclation like GREDA would seek to play the ostrich and display publicly the malaise that bedevils our beautiful Nation - hypocrisy! How GREDA can boldly seck to make the claim that they are unaware of the fact that money laundering is happening in the real estate sector of our Country is shocking and disappointing. This phenomenon is not peculiar to Ghana alone and in serious jurisdictions, legitimate industry players work with State authorities to rid their sector of these criminals.

Unfortunately, here in Ghana, we are seeing GREDA seek to silence any voice that points out this criminality. In my statement, I said there was money laundering in the real estate sector of Ghana and went ahead to explain what I meant and how it is carried out. I am surprised the GREDA Executive Council is seeking to ascribe the criminal activities to ALL of its members when no such allusion was made by me nor the host who actually introduced the subject of real estate into our conversation. It is akin to me getting offended by the statement that "all politicians are thieves" when I have never stolen public funds nor have US$1 million stashed in my house or anywhere in the world. That statement cannot apply to me but importantly, it does not make it false as there are some politicians whose wealth cannot be legally explained.

Let me state for the records that I have received messages from hardworking and credible real estate developers who are engaged in honest enterprise commending me for speaking out on an issue that threatens the viability of the sector. The attempt by the Executive Council to paint a picture that all GREDA members are saints and above reproach is one that would leave any discerning mind in stitches. We all remember the case in 2016 of Dr. Alexander Kofi Tweneboah - a former President of GREDA - who was arrested, prosecuted and sentenced to a years in jail for the criminal enterprise of SIM boxing. Did any of the proceeds of his illegality go into his real estate developments? Was he not the President of GREDA? Did the association report him to EOCO/FIC as your statement sought to claim?

I am fortified in my belief that my position is one that the majority of Ghanaians agree with and believe in. I encourage GREDA to exercise any legal options avallable to your good selves as you have indicated in your statement. It may open a vista for a wider investigation into a sector that we may not have looked at closely.

I would be inviting the Office of the Special Prosecutor to take a close look at certain developments in the coming days. I believe the Special Prosecutor must look at the due diligence processes your members undertake when selling property to prospective buyers, issues of dollar denominated transactions against Bank of Chana regulations, failure to pay VAT and full tax obligations to the GRA on property sales and a number of issues that worry the mind of discerning Ghanaians.

My office remains available to work with GREDA whenever it is prepared to deal with unscrupulous elements who use the sector to perpetrate Begality.

in service to GOD and Country.