Former Cal Bank CEO, Frank Adu Jnr, has declared that he will never forgive former Finance Minister Ken Ofori-Atta and former President Nana Akufo-Addo for the financial losses he suffered during the domestic debt exchange program. Adu Jnr expressed his sentiments in a recent interview, citing the immense hardship inflicted on pensioners like himself ¹.
The Domestic Debt Exchange Program Debacle
Adu Jnr’s grievances stem from the government’s decision to include pensioners in the domestic debt restructuring, which he believes was unconscionable. “Why would you do that? Why would you go after pensioners’ money?” he questioned, emphasizing that this move has left an indelible mark on the former leaders’ legacies ².
A Personal Betrayal
What’s striking about Adu Jnr’s criticism is the personal relationship he claims to have shared with Ken Ofori-Atta. The two reportedly had a close bond, with Adu Jnr even staying with Ofori-Atta during his first trip to the US. Adu Jnr’s disappointment and sense of betrayal are palpable, as he reflects on the stark contrast between their personal rapport and Ofori-Atta’s policy decisions ³.
Economic Management Under Fire
Adu Jnr has also been scathing in his assessment of the Akufo-Addo administration’s economic stewardship, labeling it a “disaster.” He attributes the NPP’s electoral loss in 2024 to the widespread suffering caused by the government’s economic policies ³.
A Call for Accountability
In light of his experiences, Adu Jnr has urged President John Mahama to prioritize the fight against corruption and hold appointees accountable. He believes that decisive action against procurement fraud and other forms of corruption is crucial to Ghana’s economic recovery ⁴.
As the debate surrounding the Akufo-Addo administration’s legacy continues, Frank Adu Jnr’s testimony serves as a powerful indictment of the government’s economic policies and their impact on ordinary Ghanaians. His refusal to forgive Ofori-Atta and Akufo-Addo underscores the deep-seated frustrations and sense of betrayal felt by many citizens. Alexander Afriyie,