Collapsed Banks Can Only Be Returned To Owners By Court Not Mahama -Bawumia 

Vice President Dr. Mahamudu Bawumia has responded to a promise by former president John Mahama to reinstate all revoked banking licenses, if voted for as president.

According to Dr. Bawumia, who is the flagbearer of the New Patriotic Party (NPP), even if Mahama is voted for, he will lack the authority to reinstate banking licenses that were revoked during the government’s financial sector clean-up.

He clarified that reinstating a bank’s license is not a simple matter and is subject to legal procedures.

“You cannot just hand over a bank’s license; you have to go to court,” he explained.

The Presidential Candidate of the ruling NPP, Dr. Bawumia, was speaking at his maiden media engagement held on Sunday, August 25, 2024 in Accra.

Broadcast Journalist, Gordon Asare Bediako had asked for the take of Dr. Bawumia on claims by his main opponent, John Mahama, that he had run away from the economy, though he was touted as a “Messiah.”

While answering the question, he urged former President Mahama to familiarise himself with the Bank of Ghana’s reports and the Receiver’s findings before making further comments on the matter.

“He needs to get an understanding before making comments on issues he clearly does not comprehend,” Dr. Bawumia stated.

NECESSARY STEPS

Dr. Bawumia emphasised that the actions taken by the government during the banking sector clean-up were necessary to save the deposits of millions of Ghanaians.

“We saved the deposits of 4.6 million bank depositors. They were at risk of losing everything if those banks were not saved,” he remarked.

The Vice President questioned whether former President Mahama fully understood the issues that led to the revocation of the banking licenses.

“Some atrocious things happened in the banking sector and this is why these banks had to be saved,” he explained.

According to Dr. Bawumia, the banks were not collapsed but rather merged into other institutions, ensuring that no depositor lost any funds.

OTHER

Media personalities across the 16 regions took turns to ask various questions, ranging from sports, energy, health, job creation and transportation.

Answering a question on whether the country had prepared adequate charge centers for the electric vehicles that he announced were arriving, Dr. Bawumia indicated that the Metro Mass Transit were working on that, and the charging areas will be ready soon.

He was asked about the National Cathedral construction, which he stated was a good project that needs to be completed since public funds had already been invested.

He suggested that if there is the need to have a re-look at the design, it should be done and emphasised that the church will play a key role.

UPGRADE, Not RESET

Vice President Dr. Mahamudu Bawumia jabbed John Dramani Mahama, following his call for the electorate to vote for him to “reset” Ghana.

The NDC has titled its 2024 manifesto as resetting Ghana, claiming that the nation was “bleeding,” but Dr. Bawumia responded to Mahama, stating that the country needs an upgrade, not a reset.

He outlined 14 key commitments he intends to undertake when elected in the 2024 elections, including the creation of jobs and building Ghana into a world-class digital economy, amongst others.

“I represent the future; Ghana needs an upgrade, not a reset. I have also outlined my 14 key commitments to the Ghanaian people.

“These are to sustain and expand Ghana’s rebounding economy, create new jobs, implement wide-ranging tax reforms and build Ghana into a world-class digital economy.

“Reduce the cost of living, expand public infrastructure, provide better healthcare for all, implement Affirmative Action for girls and women, provide good governance, care for the elderly, and expand educational opportunities for all. Protect our borders while keeping our neighbourhood safe,” he said.

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