General News of 2012-10-03

NPP bigwigs are major debtors of Merchant Bank – Alfred Ogbamey

Managing Editor of the Gye Nyame Concord, Alfred Ogbamey is claiming that leading members of the opposition New Patriotic Party (NPP) have not paid back loans they borrowed from Merchant Bank.

Ogbamey indicated that NPP gurus form part of about 81 percent of defaulters of the bank and thus it is unjustified for the party to hound an individual over non-payment of a loan facility when in fact he says its members are equally liable for the same offense.

He was commenting on the proposed sale of Merchant bank on Asempa FM’s Ekosii Sen programme Tuesday.

The NPP has accused Ibrahim Mahama, the younger brother of the President of contributing to the collapse of Merchant Bank.

According to the party, the bank has written off a GH¢57 million loan facility to Engineers and Planners, a mining company owned by the President’s brother declaring it as a bad debt-an accusation Merchant Bank has vehemently denied.

But Alfred Ogbamey said the NPP is flip-flopping and churning out a lot of inconsistencies on the issue.

He noted that NPP apparatchiks like Appiah Minka and others are among 81% debtors of Merchant Bank therefore they must not make it seem as if Mr. Ibrahim Mahama’s 19% loan collapsed the bank.

The Gye Nyame Concord editor added that to ensure equity and fairness, the NPP must be interested in the 81% defaulters which include its party men and not only Ibrahim because he is the president’s brother.

Alfred Ogbamey stated emphatically that Merchant Bank has not been sold as it is being purported by the NPP.

He indicated that President John Mahama halted the planned sale of the 75% shares of the Bank to First-Rand of South Africa following what he said was a petition presented to government by Fidelity Bank.

Alfred Ogbamey urged the NPP not to let political power surpass its enviable record as a credible party.