We do not pay depositors of defunct companies because of Mahama’s promise – Nana Akomea | Politics

The ruling New Patriotic Party (NPP) says the government’s decision to pay off all depositors from the defunct banks, including microfinance, savings and loan companies, was not influenced in any way by the promise of the opposition Congress’ standard-bearer. National Democratic (NDC), former President John Dramani Mahama.

Speaking at the party’s weekly press conference in Accra M[onday, September 21, 2020], the CEO of the State Transportation Company (STC), Nana Akomea, said that President Akufo-Addo’s decision to pay all affected depositors from the defunct banks was due to his sensitivity to the plight of affected customers. .

He said that President Akufo-Addo will continue to make decisions that will benefit the Ghanaian public, and not what Mr. Mahama promises or says.

Former President Mahama, at the launch of the 2020 NDC election manifesto, had promised to pay all depositors of the defunct banks in the first year of his government should he be re-elected in the upcoming December presidential election. .

Nana Akomea said that President Akufo-Addo has been cleaning up the mess that Mahama created in Ghana’s banking sector, saying that defunct banks collapsed as a result of bad decisions made under Mahama’s administration.

According to him, the government did not decide to pay the depositors of the defunct financial institutions because Mahama had promised to pay those depositors when his party gains power in this year’s elections.

He said that Mahama’s promise was unfounded to influence NPP’s decision because if Mahama could not pay the handful of clients whose money was locked up in the DKM and other microfinance companies that collapsed under his supervision, how then can he promise to pay the more than four? millions of depositors of the missing banks.

Nana Akomea said that the government in collaboration with the Bank of Ghana (BoG) has made available GH ¢ 3.56 billion to pay the more than four million depositors of the defunct banks.

However, he explained that the money will be used to pay only those whose money has been blocked in institutions that are under the supervision of the Central Bank and not those investment institutions. [investment companies] They are under the supervision of the Securities and Exchange Commission (SEC).