Ghana

82 Financial Institutions Collapsed Under NDC — Bawumia

Vice President Dr. Mahamudu Bawumia has reminded former President John Dramani Mahama that the 2020 Presidential Election is a choice between his eight-year record as Vice-President and President during the National Democratic Congress (NDC) administration and the three and half-year record of President Akufo-Addo and his New Patriotic Party (NPP) administration.

The Vice-President said Mr. Mahama has the penchant to attack the government without looking at his own record as President, indicating that the NDC administration, with Mr. Mahama later at the helm, collapsed 82 financial institutions in his tenure.

Former President Mahama has been making a series of promises in an attempt to woo Ghanaians, but in a post on his official Facebook page, Dr. Bawumia has reminded the former President that Ghanaians will judge him by his terrible record as President, not by his new-found promises.

“The choice Ghanaians face on December 7th is between John Dramani Mahama and Nana Addo Dankwa Akufo-Addo. Thankfully both of them have records. John Mahama was Vice-President and President for eight years and Nana Akufo-Addo has been the president for three and half years,” Dr. Bawumia wrote.

“It is not about what you say in opposition. It is about what you did in government. What matters ultimately to Ghanaians is how these two leaders were able to manage the economy and alleviate the suffering of the people when they were given the opportunity to serve,” the Vice-President added.

Former President Mahama, during the introduction of his running mate on Monday, promised, among other things, to settle monies owed customers of liquidated financial institutions, including DKM which collapsed during his presidency.

While government has settled a number of customers and the Official Liquidator has started paying claims of staff of liquidated banks, Vice-President Dr. Bawumia did not mince words when he reminded the former President that his government looked unconcerned when banking and financial regulations were bastardized by some players in the financial sector at the expense of the state.

He said the NDC regime was characterized by illegal activities of the liquidated banks, and that led to the collapse of 82 financial institutions under the nose of Mr. Mahama.

“John Mahama presided over a mismanaged and collapsing financial system. 82 licensed financial institutions (listed below) collapsed under JM’s watch (were they deliberately collapsed by his government?) and the depositors were not paid (sic),” Dr. Bawumia stated.

“Nana Akufo-Addo, on the other hand, has rescued the financial system and spent some GH¢21 billion to save the deposits of 4.6 million depositors who would otherwise have lost their savings. DKM depositors will also be paid,” he added.

Making a broader comparative analysis between Mahama’s eight years as Vice-President/President and Nana Akufo-Addo’s three and half years as President so far, Dr. Bawumia accused Mahama of mismanaging the economy, which the government of Akufo-Addo revived, with all economic indicators improving currently in a positive direction.

The Vice-President even listed 50 things the John Mahama administration mismanaged, or failed to implement, which the government of Akufo-Addo has achieved in three and half years and also provided the list of financial institutions that collapsed under the NDC to buttress his point.

—Daily Guide


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