I'll pay banking crisis victims when I return to power - Mahama

January 31, 2020 8:39 AM

The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama has disclosed that he will pay depositors whose investments have locked up due to the banking crisis.

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The former president said he will make sure anyone who has their funds locked in any of the collapsed banks will receive their money.

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Speaking to Ghanaians on Facebook, John Mahama the processes government took in collapsing some of the banks look sinister.

“…We believe that we do owe depositors. When I come into government, we will make sure we will pay depositors their monies within the shortest possible time,” Mr Mahama said.

John Mahama Pulse Ghana

“The route government took on the banking sector was extreme and harsh and has created more harm. I think that the government took this [decision] too quickly. It has created a huge debt for the taxpayer. The President has said that he is going to pay depositors in full but that is not going to happen in 2020.

Even if the government is going to pay that money, it is going to be spread over the next four years. So depositors can’t sit and think they are going to get their money.”

Bank of Ghana on Friday, 16th August, 2019, revoked the licenses of 23 savings and loans companies.