Kennedy Agyapong blames Ibrahim Mahama for UT Bank’s collapse

Kennedy Agyapong blames Ibrahim Mahama for UT Bank’s collapse

- MP for Assin Central, Kennedy Agyapong, has blamed Ibrahim Mahama, a businessman for the collapse of UT Bank

- According to him, Mahama failed to pay the loans he took from the bank

The Member of Parliament (MP) for Assin Central, Kennedy Agyapong, has revealed that Ibrahim Mahama, a businessman, was largely responsible for the collapse of UT Bank.

According to a report by MyNewsGH.com, the lawmaker argued that unpaid loans totaling GHc302m was given to Mahama’s companies.

He added that Dzata Cement, MBG Limited and Engineers and Planners, all belonging to Mahama, took various sums in both cedis and dollars from the bank.

Ibrahim Mahama wearing a white shirt

Ibrahim Mahama

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He went on to say that the businessman made no effort to repay the loans, and this eventually led to the downfall of the bank.

“Principal arrears overdue is $28,031,160.73. It is in dollars. When you add it with interest and arrears overdue, you have $1,050,785.00.

Penal overdue as at August 31, 2017, was $3,946,058.57 cents. Now his total outstanding loan is $38,028,005.19”, he revealed.

Agyapong said there were other loans in cedis in addition to the dollar-denominated loans:

He then wondered why UT Bank granted such loans to the companies, knowing that it is the same person behind the companies.

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