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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

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