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Freeze Mahama's Assets - AFAG   
 
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10-Oct-2012  
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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
 
 
Source: AFAG Ghana
 
 

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