According to him, lawmakers prioritized the interests of the people over their own interests while being aware of the financial consequences of passing the bill.
He stated that "it is not in the position of Finance Ministry to override the legislature" and that the Finance Ministry is not the appropriate body to counsel the President on legislative issues.
In a letter, the Finance Ministry advised President Akufo-Addo against signing the anti-LGBTQ+ measure, noting potential financial consequences should the bill receive presidential support.
In a warning bulletin dated March 4, 2024, the Finance Ministry said: "Over the next five to six years, Ghana is likely to lose US$3.8 billion in World Bank financing." Ghana would no longer get US$250 million for the Financial Stability Fund and US$600 million in budget support for 2024.
Since these inflows are anticipated to strengthen Ghana's reserve position, this will have a detrimental effect on the country's foreign exchange reserves and exchange rate stability."
After being introduced on the floor of parliament for three long years, the controversial law that outlaws lesbian, gay, bisexual, and transgender (LGBT) activities and criminalizes their funding, advocacy, and promotion nationwide was unanimously passed by Parliament on Wednesday, February 28, 2024.
If the president signs the anti-LGBTQ measure, among other things, he will punish those who actively promote and participate in LGBTQ events across the nation.
The measure stipulated that anyone caught engaging in same-sex activities would face a minimum term of six months and a maximum sentence of three years.
Those convicted of intentionally promoting, endorsing, or financing LGBTQ+ activities, however, might spend a minimum of three years and a maximum of five years behind bars.
Speaking on Monday, March 4, 2024, on 3FM in Accra, Dr. Assuming went on to call the Finance Ministry's statement "fear mongering."
According to him, "the US is working throgh World Bank to stifle countries passing anti-LGBTQ+ laws."
According to him, Ghana should act in the best interests of its people, stating that "the government is there to serve the wishes of the people."