Akufo-Addo’s govt collapsed some banks because of personal vendetta - Mahama

He said the New Patriotic Party (NPP) government led by President Nana Addo Dankwa Akufo-Addo collapsed some banks because of personal vendetta.

Speaking to captains of industry in Accra, the former President said he will review and restore some of licenses that were revoked should he win the 2024 general elections.

“Definitely l gave you an example, I said one bank was shut down because there was criminal prosecution against its major shareholder. It had nothing to do with the bank, and there might be other such cases, so we need to look at all of them and see whether the withdrawal was just or it wasn’t”.

“And the point even is, if you wanted to apply such position, with this Domestic Debt Exchange Programme (DDEP), are you going to shut down existing banks? Existing banks have been weakened by this DDEP. If you apply the same principles you applied to indigenous banks, you [government] probably will withdraw licenses of some existing banks,” the former President explained.

Recently, John Mahama mocked the NPP government for returning Ghana to the International Monetary Fund (IMF).

According to him, Ghana seeking a bailout from the IMF is a clear indication that President Nana Addo Dankwa Akufo-Addo's mantra 'Ghana Beyond Aid Agenda' is mere rhetoric with no action.

John Mahama delivers acceptance speech at UDS after winning flagbearer election Pulse Ghana

Speaking at the Special Guest of Honour at the 7th Ghana CEOs summit, Mahama said "Indeed our return to the IMF – cup in hand – has made our Ghana Beyond Aid policy the butt of jokes amongst many commentators in the world."

He stated that it will require the ability to determine our economic policies that prioritize the well-being of our citizens and create an environment conducive to the advancement of sustainable growth and development for job creation.

The programme, endorsed by the IMF board is spread over 36 months under the Extended Fund Facility.