The President, Nana Addo Dankwa Akufo-Addo, has assented to law an Act of Parliament that prohibits the payment of compound interest by the state in transactions entered into by public officers on behalf of the state.
The Contracts (Amendment) Act, 2023 (Act 1114), sponsored by the Attorney-General and Minister of Justice, Godfred Yeboah Dame, in 2023, was passed by Parliament in July 2023, but was presented to the Present recently.
Source: Graphiconline
