Promise to pay investors of collapsed banks a vote-buying gimmick — Isaac Adongo

The promise by the Finance Minister Dr. Mohammed Amin Adam to pay customers of collapsed financial institutions is a political gimmick, says Isaac Adongo.

The Member of Parliament for Bolgatanga Central said the announcement is just a ploy to win votes ahead of the 2024 elections.

While speaking to journalists in Parliament on Wednesday, June 26, Mr Adongo recalled that in 2020 opposition NDC's presidential candidate, John Mahama, had promised to pay investors affected by the financial sector crisis.

He claimed the ruling NPP government tried to outdo this promise by issuing bonds to customers at the time.

However, according to the MP, the government forgot about the bonds after their victory and is now coming up with another just months to the next elections.

"You remember in 2020 I gave a lecture at the Kama conference center and at that programme, I told you that I had received a call from HE John Dramani Mahama saying that I should tell the people of Ghana that when he wins power he will pay everybody. Immediately [the NPP government] went and issued papers, they gave everybody a bond, what happened to the bonds? 2024 is another election, they have forgotten that in 2020 they made that promise. People have forgotten where the papers are lying," Mr Adongo stated.

It comes after Dr Mohammed Amin Adam last weekend said ₵1.5 billion will be paid to customers from now until October.

The minister acknowledged while the government is not responsible for individual investments, it is showing care by earmarking funds for those affected.