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Release
AFAG, October 10,
2012
FREEZE MAHAMA’S ASSETS
The Alliance for Accountable Governance (AFAG) has followed
with keen interest arguments surrounding the over $20 million
loan owed Merchant Bank by the brother of the President.
Whilst AFAG hold’s high the belief that, private sector
development is the only pivot of hope that can lift our
economy off its ailing wheels, this particular loan secured by
Ibrahim Mahama, the President’s brother and sole owner of
Engineers and Planners; a company established in 1999 under
Ghana’s companies act, cannot escape the confines of the many
moral issues it raises.
These moral issues have only become very important and of
gross interest to the general public because answers are yet
to be provided for the necessary lessons to be learnt, as we
chart our difficult path to an economically free and a very
prosperous Ghana. These questions more so, have become very
pertinent because, the sources of funding for political
parties are not clear coupled with the absence of a Freedom of
Information(FOI) law. In this regard,
• it is important to find out whether the President was a
beneficiary of the public loan from Merchant bank in financing
his 2008 general elections( then a running mate for the flag
bearer of the opposition NDC)
• it is also morally worrying why, more Ghanaians struggle to
earn less, the brother of the President owing Ghanaian
pensioners such huge sum of money, continues to cruise in
two(2) luxurious speed boats and a private aeroplane. This
level of opulence; a product of un-ashamed abuse of public
credit is untenable. Ibrahim Mahama must be enjoying such
political protection that is ever ready to risk the future of
pensioners and convenient to make mockery of the majority of
Ghanaians living in abject poverty.
Interestingly, sensible elites in the country are going for
political equalization without meaning. In essence, AFAG
continues to ponder on why issues of such national interest,
remain reduced to a thing of “NPP” & “NDC”. Yes, if an NPP
person owes the bank is better late than never, such a person
must be prosecuted or better still the NPP party be sued if it
is defaulting as a guarantor for such a person. AFAG, is
unshaken by attempts to draw politics into this issue. As a
matter of principle, we believe what is good for the goose is
also good for the gander. Thus, if Colonel Feli was charged
with a crime of using his office to acquire a loan, and
sentenced to death by firing squad for owing 50,000 old Ghana
cedis to the Commercial Bank (the public bank) some years ago
in our history, then those who call for equity must come with
clean hands.
RESOLUTION
AFAG is calling for
a public enquiry:
• to ascertain the reasons behind the MD of Merchant bank’s
decision to go unilaterally in granting over 50 million USD
loan in excess of what his office is permitted to
• to ascertain the truth or otherwise whether the President
benefited from any such financial considerations linked to
this loan which has crippled the bank from being able to pay
the Bank of Ghana’s 60 million re-capitalization deposit, and
hence the need for the bank to be sold to First Rand bank
• Whether the then MD(Blaise Mankwa) of Merchant bank became
the financial advisor for the president whilst he served as
the VEEP.
Whilst these resolutions remain, we are calling for the state
to freeze the assets of Mr. Mahama immediately. All persons
whose actions one way or the other has affected the bank
irrespective of their political standing must also be dealt
with accordingly without fear or favour.
Mr. President a word to note:
Mr. President, was Colonel Feli’s death for a reason? And can
your brother’s position be likened to his? Is the political
class of this country being fair, or the death of Colonel Feli
was a mistake?
Mr. President the onus is on you to solidarize with the many
poor pensioners of this country or choose to stand by your
rich and profligate brother.
Thank you and hope for your prompt action.
Signed:
Abu Ramadan 024457006
Henry Asante 0248274646
Arnold Boateng 0244294754
Davis Opoku Ansah 0244861593
Dr. Nana Ayew Afriye 0244780359
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