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Mahama must understand Banking sector clean-up before commenting – Bawumia
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Flagbearer of the New Patriotic Party (NPP) and Vice President of Ghana, Dr.Mahamudu Bawumia has jabbed former President, John Dramani Mahama over the banking sector crisis.
“I’ll ask the former president if he hasn’t read, to go and read the receiver’s report or the BoG’s report and acquaint himself before making any further comments on matters he clearly doesn’t understand,” he said
Addressing Ghanaians during the Media Encounter on Sunday, August 25, he said, the former President needs to get an understanding before making further comments, adding that he cannot hand over a bank’s licence to them, this is subject to legal procedure.He said, “We saved the deposits of 4.6 million bank depositors who really were going to lose their deposits if those banks were not saved. I don’t understand whether the former president has taken his time to understand the banking sector. Some atrocious things and this is why these banks had to be saved.”
Dr.Bawumia further added, “They were not collapsed, they were merged into other banks and no banking depositor lost 1 cedi, everybody maintained. But very bad things happened, some of the banks broke all the rules and extended loans way above the single obligor limits.”
“They were given, in some cases 1 billion by the Bank of Ghana to help them out of the mess and they only got deeper into the situation. Other banks were given capital to save the situation, and they used that money to set up Capital Bank, instead of rescuing the problem that they had. They took the money from the central bank and set up another business which also collapsed. Some took money and invested in private properties,” he added.
Dr.Bawumia concluded that “So, it was against this background the governor came to report, and this was one of my nightmares in the last eight years. Most people didn’t understand how close we were to a collapse of the entire banking system. This is how we had to merge many of these banking sectors into other banks and we saved 4. 6 million depositors.”
By Edem Mensah-Tsotorme
The Director of Legal Affairs of the New Patriotic Party (NPP), Gary Nimako Marfo, has questioned who will bear the cost of conducting presidential and parliamentary primaries following the Supreme Court’s ruling on the party’s delegate system.
Speaking to journalists, Mr. Nimako Marfo said he would not immediately comment on the ruling, adding that he wanted to wait for the full details before sharing his views.
“I don’t want to comment on it now. Let’s wait,” he said.
When asked about the Supreme Court’s decision that all members in good standing should vote in party elections, he shifted attention to the financial implications of implementing the ruling.
According to him, allowing all members in good standing to vote would increase the cost of organising internal party elections.
He questioned who would pay for the expanded electoral process.
“Who is going to pay for the cost of the elections?” he asked.
When a journalist suggested that political parties would bear the cost, Mr. Nimako Marfo replied, “Let’s wait and see.”
The comments come after the Supreme Court ruled that political parties should allow all members in good standing to vote in their internal elections, a decision that is expected to expand participation but also increase the financial and logistical demands of organising presidential and parliamentary primaries.
By: Jacob Aggrey
The Supreme Court of Ghana has declared the delegate system used by political parties to elect presidential and parliamentary candidates unconstitutional.
In a 5-2 majority decision delivered, the Court ruled that the long-standing system violates democratic principles and ordered all political parties to ensure every registered, card-bearing member participates in presidential and parliamentary primaries.
The ruling brings to an end decades of internal party elections conducted by a limited number of delegates.
The suit was filed by former Minister for Environment, Science, Technology and Innovation, Professor Kwabena Frimpong-Boateng; veteran politician Dr. Nyaho Nyaho-Tamakloe; and former Minister for Lands and Forestry, Dr. Christine Amoako-Nuamah.
The plaintiffs argued that the delegate system created inequality among party members by granting voting rights to a privileged minority while excluding ordinary members in good standing.
They told the Court that restricting voting rights to delegates was inconsistent with the democratic principles enshrined in the 1992 Constitution.
The Attorney-General’s Department supported the suit and urged the Court to adopt a “one member, one vote” approach.
In its submission, the State argued that political parties perform an important public function in Ghana’s democratic framework and that their internal electoral processes must reflect constitutional values of equality, participation and universal suffrage.
The Attorney-General further submitted that expanding voting rights to all registered members would strengthen accountability and deepen internal democracy within political parties.
The judgment means that going forward, presidential and parliamentary candidates will be selected by all registered members of a political party, instead of by delegates alone.
Political parties are expected to review their constitutions and structures to comply with the Court’s directive ahead of the 2028 general elections.
By Edem Mensah-Tsotorme
