Mahama can't win debate on banking crisis – Kweku Baako

Editor-in-Chief of the New Crusading Guide, Abdul Malik Kweku Baako, has warned former President John Mahama not to engage in any debates on the collapsed banks for reasons that he will fail.

According to him the facts available suggest that the collapse of the banks can be traced to his era as the President of the Republic.

“I can tell you something that this government together with the regulator and the finance ministry took the best decision on the collapse of the banks. They rescued the deposits of 1.5 million Ghanaians” he said.

Kweku Baako speaking on Peace FM’s ‘Kokrokoo’ said it is better for the workers of these banks to lose their jobs than for depositors to lose their money.

“Can you imagine if the banks had collapsed just like that and they had lost all those deposits, can you imagine the repel effect in this country” he quizzed.

“This government took the right decision in the circumstances considering all the challenges, let me rescue the citizenry numbering 1.5 million. And you have a former President whose administration presided over the sowing of the seeds for that crisis, doing opportunistic politics,” he said.

Mr Baako stated further that some of the statements of former President Mahama will make his campaign suffer ‘premature ejaculation’.

“He is raising issues even before he wins the primaries but in the process, there is an inbuilt factor that will hurt his campaign and especially if what he is saying is not credible and truthful. And when his external opponents come up with effective rebuttals, it lesser his credibility, it brings his profile down,” he warned.

“He can never win that debate, the facts are available. The crisis began under him hugely,” Kweku Baako stressed.



Background

Some seven banks in Ghana have collapsed just in a year following an investigation by the Central Bank of Ghana into their operations.

According to the BoG’s investigations, The Beige Bank, Sovereign Bank and Construction Bank which have gone bankrupt, obtained their banking licences illegally through the use of suspicious and non-existent capital.

The BoG has, therefore, merged The BEIGE, Sovereign, Construction, UniBank and Royal Bank into a Consolidated Bank of Ghana Limited to save the situation.