Is Ibrahim Mahama still sauntering on the streets of Ghana as a proud rich man?
Wonders indeed will never end, so they say. I am not being jealous of, but I cannot for a single second of the ticking of the clock get my head around how and why Ghanaians in their majority still kowtow to, Ibrahim Mahama, the younger sibling of former President John Dramani Mahama, for being a rich man. I can only get furious and question the intelligence of Ghanaians when I see them, or hear of them, prostrating to Ibrahim Mahama, for his riches.
Had he earned his riches in the correct way to merit the accordance of our veneration? I believe the answer is a BIG NO, deducing from the information on him as made public to Ghanaians and the whole world. Was he not the person who borrowed either US$58 million or GHS58 million from the Ghana Merchant Bank but deliberately or not, refused to pay back the loan hence directly or indirectly leading to the insolvency and collapse of the bank?
Was he again not the same person who was not paying the requisite import duties on his imported heavy machinery into the country by criminally issuing dud cheques in payment of such duties for two consecutive years only to be exposed by the nation-loving and philanthropist Kennedy Agyapong (Hon)?
This same man in connivance with certain irresponsible and unprofessional or corrupt managers at the UT Bank, was loaned GHS302 million. Again, as clever crook and corrupt in smartness to outwit Ghanaians as he is, he has refused to pay back the loan. His action has again contributed to the bank suffering irredeemable distress hence culminating in its consolidation with other banks into a Ghana Consolidated Bank or whatever the name is, and somehow managed by the government. This is a man walking the streets of Ghana, flying his personal jet and driving luxurious cars with registration numbers “Pepeni No. 1” and “Pepeni No. 2”
What type of a rich man is he with such fondness for duping the nation’s taxpayers via the banks? Any fool can become rich if such collusive facility is extended to them.
Why had the banks not posted collateral for the loans he took? From my understanding of economics, banking and finance, “the whole point of posting collateral is to make loans less risky and thus cut borrowing costs”. I know, and have heard, of, borrowers being obliged by banks to collateralise the loans they take with immovable properties like buildings, land, etc. and also bonds and shares. Without presentation of such collateral securities, many a Ghanaian seeking bank loans has been denied access? Why should Ibrahim Mahama in the absence of such collateral securities been offered sums of loans able to collapse a bank in the event of defaulting on payment as made evident in his two mentioned instances? Yet, Ghanaians who idolise criminals, continue to respect him for being rich.
What makes some individuals so special to walk into banks to acquire big loans without scrupulously satisfying the lending requirements as it seems to be the case of Ibrahim Mahama?
Check the underlying web link on a publication titled, “UT bank wanted to meet John Mahama over Ibrahim Mahama’s ¢302m loan – Report”
The assets of those bank managers that gave such huge loans to Ibrahim Mahama without sticking to proper banking procedures must be confiscated to pay those customers who lost their savings with the bank as a result of the managers’ imprudence or deliberate connivance to perpetrate crime against their customers and Ghana. The assets of Ibrahim Mahama must be impounded, sold and the proceeds used to defray the debt he owes the banks or the government. Why should he be flying a private jet when he owes the nation such huge sums of money? Is he the smartest entrepreneur that the nation adores with Ghanaians looking up to him as a role model?
Until Ghanaians learn to shun those who have resorted to malpractices to become super rich, Ibrahim Mahama and his likes will continue to dupe the nation. Why should the law not be able to deal with such persons mercilessly but continue to remain a toothless bull in the sight of such super rich criminals?