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General News of Thursday, 28 May 2015

Source: Daily Post

NPP's debt is reason for Afoko, Agyapong troubles

The cat is finally out of the bag! The refusal of Paul Afoko and Kwabena - Agyepong to use the filing fees of NPP parliamentary aspirants to defray a Ghc2,290,361 debt owed Prudential bank in the name of Akufo-Addo and his hand men is the reason why Akufo-Addo is bent on kicking them out of office as National Chairman and General Secretary respectively, of the NPP.

As proof, Deep Throat sources within the party yesterday showed the 'Daily Post' a copy of the letter Prudential Bank wrote to the NPP "reminding the opposition party of the debt owed and the need to defray it.

The letter, which found its way into other hands yesterday evening, has gone viral on social media. The letter is addressed to The Chairman /Director, NPP Election 2012 Fundraising Committee, Margo Avenue, Asylum Down Accra and is referred directly to Messrs Ken Ofori-Atta and Keli Gadzekpo.

The letter seems to back the allegations that a forex account was opened by the party in the run-up to the 2012 elections with signatories, strangely, being non-executive members of the NPP.

The letter from Prudential Bank to the NPP reads;


We refer to our letter dated 5th January, 2015 in which we requested you to arrange and pay off the overdraft facility of GHc1.5million granted the New Patriotic Party by 30th January, 2015.

Unfortunately, there has not been any response to our letter and the debt also remains outstanding.

The overdrawn balance of the party's Election 2012 Fundraising account as at 20th April, 2015 stood GH 2,290,631.36.

As indicated by our letter under reference, the Bank of Ghana Supervisory Department has picked the party's account for downgrading due to non-performance.

This requires the Audit and Risk management sub-committee of the Bank's Board to take action to recover the debt.

We are therefore by the letter requesting you, as guarantors of the facility, to ensure that the overdrawn balance of Ghc2,290,63.36 together with the interest thereon is paid off immediately but in any case not later than 30th April, 2015.

Please take note that if you fail to comply with the above directive, the Bank will have no other option than to initiate legal action against the party and the guarantors of the facility to recover the entire debt together with the interest without further notice to you.

We hope you all co-operate for our mutual benefit.

It is signed by H.T Ayernor, Director, Credit Administration Division of the Bank and Osei Yaw Osafo, Chief Legal Officer, Loan Recovery Unit of the bank and copied to the Chairman of the NPP.

Paul Afoko and Kwabena Agyepong, on receipt of the letter are reported to have asked the banks to deal with the signatories of the account since the signatories are not members of the National Executive Council of the party.

They also refused to use the filing fees of parliament aspirants to defray the debt as order by the leader of the party, Akufo-Addo. With no other place or person to turn to, to avoid the looming shame when the banks takes action, Akufo-Addo and his men are said to have decided to push Afoko and Agyapong out of office so they can lay hands on the needed cash to defray the debt they had incurred.

It is this that has led to the frenzy in the party as Akufo-Addo and his henchmen seek to push the two out at all cost.

Below is the full letter: