Former President Jerry John Rawlings has announced that the incumbent New Patriotic Party (NPP) has plans to establish a National Development Bank for their selfish gains.
Making this shocking revelation at the commemoration of the 31st December 1981 coup d’état in Winneba, the founder of the National Democratic Congress (NDC) noted that this alleged bank, when operationalised, will cripple existing banks because it would favour fraudulent entrepreneurs which would in turn plunge the country into corruption just as it happened with the Ghana Commercial Bank in the old days.
While addressing the public, he said “I’m about saying something, maybe NPP will deny it. They intend to set up a National Development Bank. This National Development Bank I bet because they know the use to which Ghana Commercial Bank was put by a certain group of people in this country being part and parcel of them, they monopolised it, kept quiet and they have also decided that no, we will also decide to establish a National Development Bank under this leadership”.
But J.J Rawlings, being hopeful the establishment of this National Development Bank will serve its ‘right’ purpose, he stressed that “my prayer is that if or when they do, that it will not go down serving the selfish interest of fraudulent entrepreneurs as the Ghana Commercial Bank did in those days…but will rather serve the interest deserving and genuine entrepreneurs all of all this country irrespective of whichever tribe you belong to".
During the Acheampong regime in the 1980s, Ghana Commercial Bank was plunged into unimaginable corruption because it served as a hub of loans for some persons from a particular ethnic group who enjoyed huge sums of monies without paying back.
Though this horrifying situation happened under General Ignatius Kutu Acheampong, the President at the time was left with no choice than to publish the names of GCB defaulters in a bid to resolve the situation.
In as much as Acheampong tried, Rawlings said, it still contributed a big deal to the triggering of the June 4, 1979, coup against the Supreme Military Council regimes led, first by Colonel I.K. Acheampong and later by General Akuffo.
Source: Ghanaweb
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There is nothing new from what JJ said. People are commenting, praising jj but they are not up to speed with news in Ghana. The finance minister said this at the November Budget reading. and for those who don't know wat this will do to the development of Ghana, let me educate u my little understanding . the Commercial banks in Ghana are very reluctant in reducing their Interest rates even though on 5 occasions the BoG has maintained the Base Rate (that is the interest that BoG, puts on money that Commercial banks borrow from the BoG ) at 16%. Now if the Government opens this Development Bank it can now set the interest rate at a point that will force the other commercial banks to meet that level else big borrowers will not go to them. in effect helping big business men to borrow and set up businesses or expand businesses
Today except u are on another planet because the most corrupt leader in Africa is de old man nana addo dis Guy said to us dat he has everything already little did we know that he even contributed to the collapsed of UT bank because he borrowed so much from dem so those who think dat old my had everything should know dat he borrowed so much he is now repaying most of his debt hence the naked stealing all over de place from his ministers to his children
Rawlings tell them the truth because you are not lying.This NPP led Akufo Addo government is very corrupt. 126 Ministers choping Ghana money. The President himself is so corrupt. Cocaine is coming through Togo every Thursday night from Lome, shame to NPP
I’M WARNING YOU NOT TO TRY BUILD OUR MINDS ON YOUR ***barred word*** COUP,WE’RE WELL EDUCATED THIS TIME RUN AND TRUST ME,TRY AND SEE YOU’LL SEE ME FACE TO FACE. YOU SAID PROBITY AND ACCOUNTABILITY WHO DID YOU ACCOUNTED FOR? TRY AND SEE....YOU’LL GIVE A CLAP 👏
I remember this Rawlings guy took $5 Million bribe from Sani Abatcha..... Corrupt guy talking about corruption.....
Wow talk of the pot calling the kettle black!! The mind boggles. Rawlings whose PNDC turned both Bank of Ghana and Ghana Commercial Bank as conduits for laundering drugs money (Ghana was swamped by drug barons from South America, Asia and Russia) whilst they took their percentage now have the audacity to point accusatory fingers at NPP for something that have not even taken place? Wonders shall never end.
When we talk about corrupt Ghanaian leaders past and present, Rawlings is number two. John Mahama is number One. All from the CREATE LOOT AND SHARE PARTY. NDC.
Hahahaha....look who is talking about corruption, Rawlings? has this guy forgotten about the five million dollars he took from the Nigerian govt. that he can not account for? could some one tell Rawlings he is the wrong person to lecture Ghanaians about corruption.
THANK YOU RAWLINGS. NOW YOU REALIZE THE CORRUPT NATURE OF THE NPP. I BEG OF YOU TO HELP THE NDC CAMPAIGN BACK TO POWER TO AVERT THE ***barred word*** NPP GOVERNMENT. 'SE EFIE ENYEA, ENKYERE SE ABONTISOFU EMBEFA', 'NA SE ADIE WO FIEA OYE'. HELP THE NDC WIN. 2020 LET US SHOW NANA
PLEASE GHANA NEEDS TO MOVE FORWARD. LET'S HELP IT MOVE BY STRESSING MORE ON THE POSITIVES OF DEVELOPMENTAL EFFORTS AND STOP BEING PESSIMISTIC, AS YOUR PARTY HAS EVER BEEN.