Blame Ibrahim Mahama for UT Bank collapse – Chairman Wontumi

Blame Ibrahim Mahama for UT Bank collapse – Chairman Wontumi

- Chairman Wontumi is saying Ibrahim suffocated the bank with political influence

- He says he says he took over $100 million from UT Bank

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Bernard Antwi Bosiako, the Ashante Regional Chairman of the New Patriotic Party (NPP), is alleging that, the recent insolvency of UT bank should be blamed on businessman, Ibrahim Mahama.

Blame Ibrahim Mahama for UT Bank collapse – Chairman Wontumi

Chairman Wontumi and Ibrahim Mahama

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According to him, the brother of former President Mahama used his political influence under the NDC administration in suffocating the bank till it got collapsed.

Mr Bosiako also known as Chairman Wontumi says, the business mogul secured huge sums of loans from the bank under some mysterious circumstances.

“Ibrahim Mahama 'killed' Merchant Bank and UT Bank. He borrowed over $100 million from UT Bank,” the NPP man alleged on NEAT FM in Accra.

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The Central Bank of Ghana in last week revoked commercial licenses of UT bank and Capital bank over some liquidation issues.

The move was triggered after the two banks failed to turn around their negative capital adequacy position despite all warnings from the Bank of Ghana (BoG).

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The BoG has subsequently named GCB to take over the operations of the two banks to secure deposits of affected customers under the new deal.

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Source: Yen.com.gh

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