Ibrahim Mahama has no business with Merchant Bank - NDC Guru

Several discussions and arguments have been held on the widespread controversy hovering around the State-owned bank, Merchant Bank, which is struggling to remain operational.

As the hullabaloo over the sale of Merchant Bank to Fortiz, an Equity Fund continues, according to sources; the Presidency was petitioned to intervene in the issues surrounding the recovery of huge debts from Engineers and Planners (E&P), a company owned by Ibrahim Mahama.

Reports also indicate that Lawyer for Engineers and Planners, Tony Lithur, petitioned President John Mahama to intervene on the company's behalf.

The bank attempted to recover a debt of $38 million from E&P.

The mining firm, E&P, is said to have requested a loan grant from the Bank for the company's operational costs and Ibrahim Mahama, brother of President John Dramani Mahama, is reportedly the architect behind E&P in their transactions with Merchant Bank.

This therefore seemed to have ignited passions as some critics are accusing the president of violating the regulation barring ministers and government appointees from dabbling in issues involving their families and friends.

Deputy Communications Director of the National Democratic Party (NDP), Ernest Owusu Bempah, speaking to Peacefmonline.com called on Security agencies in the country to arrest Mr. Ibrahim Mahama for supposedly playing a key role in the gradual downfall of Merchant Bank.

He was of the notion that E&P is his (Ibrahim Mahama) and its indebtedness to the bank should be questioned.

And if no action is taken against it, then it is an act of nepotism on the part of the President, who in his view, takes delight in pursuing other people deemed a threat to the nation's progress.

But speaking on Peace FM's political analysis programme, Samuel George, member of the ruling National Democratic Congress Communication team believes Mr. Ibrahim Mahama has been singled for condemnation on purely partisan politics basis.

According to him, the President’s brother (Ibrahim) never played any vital role in the transaction between E&P and Merchant Bank, and so wondered why he should be roped into the brouhaha.

To him, discussions should be centered on the mining firm but not the President's brother because he is not the "sole person behind Engineers and Planners."

He told host Kwami Sefa Kayi that “Mr. Ibrahim Mahama and Merchant Bank have not had any transactions or dealings before. Merchant Bank has transactions and business relationship with Engineers and Planners. Engineers and Planners is a corporate entity incorporated under the laws of Ghana. So, it’s a body that can be sued and can sue.

“Let us stop going after an individual who is not the sole person behind Engineers and Planners. Engineers and Planners has Board of Directors; why aren’t you going after the Board of Directors? Why are we singling out one person?”