Failed banks: Akufo-Addo’s decision to pay locked-up funds smacks of hypocrisy – Mahama

Former President John Dramani Mahama has said the decision by the Akufo-Addo administration to pay all customers of the failed banks and microfinance companies at this time of the year smacks of hypocrisy.

He noted that Nana Addo Dankwa Akufo-Addo was unwilling to pay the funds but only decided to do so after Mr Mahama had promised the depositors that he will ensure they are paid if he is elected to be president again.

The Government has released GH¢3.5 billion to settle all outstanding claims of depositors of defunct financial institutions including savings and loans firms.

A statement by the Receiver, Eric Nipah, said, “with effect from September 16, 2020, affected depositors may contact any branch of Consolidated Bank Ghana Ltd (“CBG”) the paying bank to access their newly created Cash accounts which were originally designated as Commercial Paper (Bond) accounts at the bank ie CBG.”

But speaking to scores of Ghanaians in Prestea Huni Valley as part of his campaign tour of the Western Region last week, Mr Mahama said the government did not have the intention to pay the funds.

“It was only after the NDC had promised to pay the funds that they realized that they had to pay. This is hypocrisy,” Mr Mahama.

He further called on Ghanaians to reject President Akufo-Addo and the New Patriotic Party (NPP) and vote for him instead.

He said he has good policies and programmes for the country.