[ 2015-05-28 ]

Prudential Bank writes to NPP over Ȼ2 million debt
Prudential bank has written to the opposition NPP
demanding the repayment of a Ȼ2 million loan
the party procured for its 2012 presidential
election campaign.
The bank said the amount has remained unpaid since
2012 despite a reminder to the party in January
this year.
Former Chief Executive Officer of Data Bank, Ken
Ofori-Atta says the letter from the Prudential
Bank requesting the payment of the money by the
NPP was leaked to create mischief.
According to him, the loan was a purely private
business transaction and that the New Patriotic
Party (NPP) played no part in contracting the
loan. He said it was, therefore, inappropriate for
the bank to write a letter to the National
Chairman of the NPP demanding the repayment of the
loan.
“I am personally liable for any obligation that
arises from this transaction and not in any way
the New Patriotic Party”, he said in a response
to the letter.
The facility, he said, was taken to complement
resources the Finance team had raised to support
the operations of the party's Polling Station
Agents during the elections.
He said although the loan was acquired to finance
the party’s 2012 campaign, he as “Chairman of
the 2012 Presidential Campaign Finance Team
contracted and Guaranteed for purposes of the
elections” and this has nothing to do with the
party.
Mr Ken Ofori-Atta’s comments are response to a
leaked document from the Prudential Bank demanding
that the party pays back a Ȼ 2,290,631.36
million loan it obtained from the bank to finance
its 2012 election campaign.
The bank is demanding immediate payment because an
earlier notice sent to the party in January did
not yield a response.
Even though, Mr Ofori-Atta says the leadership of
the party at the time was fully aware of the loan
and was grateful, the party as an entity should
not be dragged into the matter.
He urged supporters of the party and the entire
public to disregard the “mischief that the
leakage of this letter and those behind it seek to
create.”
“Our party has always been proud to fund itself
by contributions and sacrifices of its members.
This loan was guaranteed privately and the Party
therefore is not directly liable for it”, he
added.

Below are copies of Ken Ofori-Atta's response and
the bank's request for repayment.
Debt with Prudential Bank
It has come to my notice that a letter written to
me and copied to the National Chairman, from the
Prudential Bank about a transaction that took
place during the 2012 election campaign is being
circulated in sections of the media.
The letter titled " Re: Repayment of Overdraft
facility of GhC 1,500,000 Demand Notice" is
requesting repayment of a facility that I as
Chairman of the 2012 Presidential Campaign Finance
Team contracted and Guaranteed for purposes of the
elections in 2012. I am personally liable for any
obligation that arises from this transaction and
not in anyway the New Patriotic Party.
The facility was taken to complement the resources
we had raised to support the operations of our
Polling Station Agents. The party leadership at
the time was fully aware of it and grateful. The
disbursement of these funds was supervised by, and
transfers executed by the Campaign Manager.
This was to supplement the entire polling station
operation on Election Day (D-Day) including
logistics, feeding and stipends. It must be noted
that this amount was not the total amount spent on
D-Day operations.
I would urge the supporters of the NPP and the
entire public to disregard the mischief that the
leakage of this letter and those behind it seek to
create.
Our party has always been proud to fund itself by
contributions and sacrifices of its members. This
loan was guaranteed privately and the Party
therefore is not directly liable for it.

Signed
Ken Ofori-Atta

Source - MyjoyOnline

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