Banking crisis developed under Mahama's watch but he did nothing about it – Kokofu

Former Member of Parliament for Bantama Constituency in the Ashanti Region, Henry Kwabena Kokofu has said National Democratic Congress (NDC), flagbearer John Mahama lacked the courage to confront cancer at the heart of the banking system when he was the President from 2013 to 2016.

According to him, the Akufo-Addo led government inherited a frivolous and declining banking sector under the erstwhile John Mahama administration.

“Mahama was aware of the problem and they had been aware of the problem for over five years, for savings and loans and since 2015 for the banks but they had no courage to deal with cancer at the heart of the banking system. They had no courage to deal with it”, Henry Kwabena Kokofu told Lawyer Ohene Gyan on Pae Mu Ka on Accra-based Kingdom FM 107.7.

“It didn’t start under the NPP government. It started in 2015 but the NDC lacked the boldness and didn’t want to take the blame for it.”

He lashed out at National Democratic Congress (NDC) flag bearer, John Dramani Mahama for promising to pay the monies of depositors who suffered from the banking sector crisis.

The crisis, according to the former MP was however covered up by the NDC government because they lacked the courage to resolve the issue and did not want to be accused of the collapse.

President Akufo-Addo has hinted customers of the collapsed Savings and Loans firms who still have their investment locked up with the Receiver will begin receiving full payments.