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Atik Mohammed says the hullaballoo surrounding the Agyapa Royalties deal could scare away potential investors to invest in Ghana's mining sector.

The Agyapa Royalties deal is to ensure Ghana reaps about $1 billion to maximize the minerals' value of the economy.

Agyapa Royalties Limited, a Special Purpose Vehicle, is to operate as an independent private sector entity in charge of the deal and raise the funds by listing the royalties on the Ghana and London stock exchange markets.

But the deal has suffered back and forth heated arguments over its authenticity and significance.

The Minority in Parliament has threatened to petition the London Stock Exchange because, to them, the deal is buried in secrecy and also reeks of corruption.

“The Minority wish to state emphatically that the SPV and its accompanying agreements as structured by the current Government is not just opaque but inimical to the interest of the Republic of Ghana. We therefore wish to completely disassociate ourselves with the proposed relationship agreement and subsequent flotation of shares on the London Stock Exchange,” the minority stated.

“We will today [Tuesday] put the London Stock Exchange and the Financial Conduct Authority on notice that this agreement does not meet the minimum requirement of diligence and transparency and minimum requirements of our constitution,” Minority Leader, Haruna Iddrisu added at a press briefing on Tuesday, September 2, 2020.

Former President John Mahama, who is seeking re-election during the December general elections, also says his government will rescind the deal.

“We will do everything legitimately in our power to oppose the agreement and make sure it doesn’t happen”.

Contributing to ''Kokrokoo'' on Peace FM, Atik told host Kwami Sefa Kayi that the controversies about the deal could potentially discourage investors because no investor would want to take the risk in investing in a project cast in doubts.

Atik warned against the comments that are being passed regarding the deal, saying every investor will first consider the issues before they attempt to buy shares from the Agyapa Royalties gold firm.

"What are the issues surrounding Agyapa? What is the future of Agyapa? What are the profit prospects and so on? And if a former President who wants to become President again is serving notice to cancel it when he comes into power . . . it's serving a signal," he added.