Nduom’s PPP ‘fires’ Addison over ‘inaccurate, misleading’ remarks

Founder of the Progressive Peoples Party, Dr Papa Kwesi Nduom

The Progressive Peoples Party (PPP), a party founded by businessman Dr Papa Kwesi Nduom, has criticized the Governor of the Bank of Ghana (BoG) Dr Ernest Addison for what they claim is inaccurate, unfortunate and misleading remarks made about him in relation to a suit in the United States.

A statement signed by the Director of Communications for the PPP, Felix Mantey, described the Governor’s comments as second wave of vicious attacks against the person of Dr. Nduom and also is a face-saving exercise for a botched and politically motivated financial sector reform

“This statement is to address and respond to a number of inaccurate, unfortunate and misleading remarks made by the Governor of the Central Bank, Dr. Ernest Addison. In a response to a question relating to the suit filed by Birim LLC against Groupe Nduom in the United States, at the 100th Monetary Policy Meeting, the BoG Governor effectively made the following unfortunate statements: That the suit is evidence out there that the BoG’s financial sector reform was not a political witch-hunting exercise especially in relation to GN Bank.”

“That the US court system is more expeditious than our courts; That shareholders and directors took assets from the collapsed banks.”

“We find the above remarks very unfortunate, misleading and mischievous and wish to respond as follows: – That the suit is evidence out there that the BoG’s exercise in the financial sector reform was not a witch-hunting exercise especially in relation to GN Bank.”

“On this statement, we wish to state that the suit filed in the United States by Birim LLC is actually a continuation of the deliberate and well-orchestrated political smear campaign against a Ghanaian businessman and politician, Dr. Papa Kwesi Nduom by some elements in the current administration.”

“We see the suit as an attempt to divert attention from the negative image that the government has suffered for its high-handedness in the reform agenda.”

“The suit is an attempt by elements in the government, working with their collaborators, to strenuously seek some form of external or third-party vindication for their deliberate collapse of the businesses of the veritable entrepreneur Dr. Papa Kwesi Nduom.”

“That is why we see the governor’s comments as a corollary to the bizarre suit and an unfortunate attempt to give the suit a cloth of legitimacy and currency.”

It added “The Governor of the Bank of Ghana is seemingly rejoicing over something which has not taken place. Is he sitting in Ghana pronouncing victory for a case in the US which has just begun?

“The Governor has left his field of expertise and is now acting like a clear political foot soldier. In fact, the BoG Governor was so much in a hurry to vilify Dr. Nduom that he refused to notice that the suit in the United States side-stepped his own instituted procedure for claims against the so called companies under receivership. Some faceless entity like Birim LLC has conspired with Margaret Sekyere to IGNORE your own stated procedures, and yet you are happy to report their actions as a vindication of the deliberate collapse of Ghanaian companies.”

“We would rather consider their action as a vote of no confidence in your stewardship. For the avoidance of doubt, per the claims of Birim LLC, they should have taken over the interest of Margaret Sekyere in the suit she filed in Ghana and also her claims she filed against Gold Coast with the SEC.”

“This is what the lawyers call Lis pendens, instead of filing this frivolous case far away in the United States as an agent of elements in government determined to destroy a Ghanaian businessman. These attempts will never fly.”

Below is the statement: