Takyi Arhin gives fellow football administrators ‘legacy debt’ education

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Former General Manager for Techiman Eleven Wonders, Takyi Arhin, has been giving his fellow administrators some education on ‘legacy debts’ in management and finance.

Mr Arhin’s education follows comments of former Executive Member of the Ghana Football Association (GFA), Wilfred Kwaku Osei Palmer that there is nothing like ‘legacy debt’, saying the term was coined by the current administration.

Mr Osei Palmer’s view was in response to the GFA saying they were broke with no money in its coffers.

However, Takyi Arhin, popularly known as ‘Thunder’ has debunked his comments.

“We have something called legacy debt,” he said in an interview with Kobby Stonne of Adom FM.

To buttress his point, he made reference to an article on Wednesday, 19th February 2020 on the Minister of Finance Economic Planning website which revealed the Government of Ghana had completed the payments of legacy debts. (From July 2011 to June 2016).

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He also made reference to the Chamber of Bulk Oil Distributors receiving $1103 billion as legacy debt payment from government.

According to him, the phrase; ‘legacy debt” already exists in finance, adding that it is morally wrong for someone to use this against the current administration of the GFA.

“Morally, it is wrong. It is high time we tell whoever and those that are putting the name of football into disrepute that they should keep quiet. People betray themselves in setting an agenda,” he said.

According to him, the issue was discussed at Congress and was given approval, calling for all hands to be on deck to help the current administration.

“We discussed the audited account at Congress and if anyone had a problem, we could have addressed it. When the decisions of the majority are given approval at Congress, the individual decision doesn’t anymore and all hands must be on deck,” he added.