Mr Iddrisu said the motion was by Article 82 of the 1992 Constitution and cited seven grounds for it.
In his ruling, Mr Bagbin said: “The finance minister will be given ample opportunity to defend himself.”
He explained that setting up a committee would provide an opportunity for the Finance Minister to respond to issues of conflict of interest raised by Mr Iddrisu.
“The evidence will be placed before the committee. The Minister will have the opportunity to defend himself. A report will be presented to the House, and we will debate that report,” he said.
Mr Bagbin as part of his ruling also dismissed a preliminary objection raised by Mr Alexander Afenyo-Markin, Deputy Majority Leader to the Minority Caucus’ motion.
Despicable conflict of interest ensuring that Mr Ofori-Atta directly benefited from Ghana’s economic woes as his company received commissions and other unethical contractual advantages, particularly from Ghana’s debt overhang was among the basis upon which the Minority cited its vote of censure.
They also cited Unconstitutional withdrawals from the Consolidated Fund in blatant contravention of Article 178 of the 1992 Constitution, supposedly for the construction of the President’s Cathedral.
According to the Caucus, illegal payment of oil revenues into offshore accounts, in flagrant violation of Article 176 of the 1992 Constitution was another ground for the censure.
“Deliberate and dishonest misreporting of economic data to Parliament. Fiscal recklessness led to the crash of the Ghana Cedi.
“Alarming incompetence and frightening ineptitude resulted in the collapse of the Ghanaian economy and an excruciating cost of living crisis,” the censure stated.