John Dramani Mahama, a former president of Ghana and the candidate for the National Democratic Congress (NDC) in the general elections of 2024, has criticized the present administration for the failure of several private banks.
He said that several banks were destroyed by the New Patriotic Party (NPP) administration of President Nana Addo Dankwa Akufo-Addo out of personal animosity.
If he wins the general elections in 2024, the former President promised to examine and reinstate some of the licenses that had been suspended while speaking to business leaders in Accra.
“Definitely l gave you an example, I said one bank was shut down because there was criminal prosecution against its major shareholder. It had nothing to do with the bank, and there might be other such cases, so we need to look at all of them and see whether the withdrawal was just or it wasn’t”.
“And the point even is, if you wanted to apply such a position, with this Domestic Debt Exchange Programme (DDEP), are you going to shut down existing banks? Existing banks have been weakened by this DDEP. If you apply the same principles you applied to indigenous banks, you [government] probably will withdraw licenses of some existing banks,” the former President explained.
Source: Mybrytfmonline.com/Joseph Asare
