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General News of Thursday, 5 December 2013

Source: citifmonline.com

Mahama is "neck-deep" in the Merchant Bank deal - Dominic Nitiwul

Deputy Minority Leader, Dominic Nitiwul, has condemned President John Dramani Mahama for failing to stop the controversial sale of troubled Merchant Bank to Fortiz because he is “neck-deep" in the matter.

“Nothing in my little mind will convince me Dominic that the president is not neck deep into it, otherwise this deal will never have gone through under any good government,” he said.

In an exclusive interview with Citi News’ Parliamentary Correspondent, Richard Dela Sky, after Fortiz issued a statement on Wednesday, in which it announced completion of the takeover of Merchant Bank, Dominic Nitiwul who likened the deal to the smell of rotten eggs said “the deal stinks and it smells. It is very bad.”

In his opinion, the president should have put the deal on hold until all the brouhaha surrounding the deal was cleared because “it has marks of corruption and conflict of interest written all over it.”

“...his own brother is involved because all the arguments center around the fact that the bank owes and as a result of that it is on its knees and his brother is the largest debtor. Morally will he be able to sleep in the night and feel that this is what he has done to the people of Ghana,” he questioned.

Fortiz can only retrieve 30% of debts owed by clients to Merchant bank, he said.

Mr. Nitiwul further assured Ghanaians that the New Patriotic Party (NPP) would re-look the Merchant Bank deal if voted into office.

“I am quite positive that when NPP come they will re-look the Merchant Bank deal. People cannot hide behind individuals and go and buy a bank and think that that will be the end of the story” he added.

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