Ghana Politics

Your insensitive approach collapsed the banking sector so why promise to pay depositors now? Nana Akomea asks Mahama

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Nana Akomea has questioned why the flagbearer of the National Democratic Congress, John Mahama is now promising to pay depositors of collapsed banks their money when it was under his government that these banks collapsed and yet he did nothing about them.

Speaking at a press conference in Accra yesterday, Nana Akomea said “Having lost control over the fight to restore sanity in the banking sector, Mr. Mahama and the NDC sat aloof as the problem metamorphosed into a full-blown crisis. A total of 9 universal banks, 23 specialised deposit-taking institutions and 386 microfinance and credit institutions, were on the verge of collapse when the NPP administration assumed power in 2017.”

According to the CEO of the State Transport Corporation (STC), an 4.6 million depositors, thousands of retail, corporate and institutional investors were not managed well and risk loosing their money yet he [Mahama] did nothing to save the depositors money.

“As I have already indicated, 82 financial institutions had collapsed under the watch of the President Mahama. In the meantime, what did President Mahama’s government have for the unfortunate customers of these financial institutions? Sadly, Ladies and Gentlemen, when these customers cried for help from government, Mr. Mahama and the NDC rather blamed them for their bad investment decisions and indicated that government was in no position to address their predicament. In fact, Mr. Asiedu Nketia, the General Secretary of the NDC is on record to have said, and I quote, ‘How can victims of the DKM microfinance scam demand that taxpayers’ money be used to reimburse them when their bad investment decisions had nothing to do with government?’” he asked

Nana Akomea said it the leadership of President Nana Akufo-Addo to salvage the station which the NDC adopted an insensitive approach in dealing with the issue.

“Such was the gross insensitive approach adopted by the NDC government at the height of the financial sector crisis. The empathy-driven approach of the NPP government in dealing with the crisis in the past three and half years, is in sharp contrast to Mr. Mahama and the NDC’s lack of compassion” he indicated.

Source: Ghana Waves

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