Retract Merchant Bank debt claim and apologize within 7 days - Ibrahim Mahama to Manasseh Azure

Investigative journalist Manasseh Awuni Azure has been given a seven-day ultimatum to remove pages 98 to 99 from his latest book, “The President Ghana Never Got.”

Businessman Ibrahim Mahama has expressed concerns about the accuracy of the content on these pages, deeming them false and requesting their removal.

These concerns were outlined in a letter dated Thursday, August 22, 2024, from the Robert Smith Law Group and signed by Bobby Banson Esq. The letter clarifies that Ibrahim Mahama was never personally indebted to Universal Merchant Bank (UMB), previously known as Merchant Bank. Instead, it states that his company, Engineers and Planners, had financial dealings with the bank and fully repaid its debt before the bank’s financial difficulties and subsequent sale.

The letter argues that the statements made on pages 98 and 99 of the book are baseless. It states, “We write as solicitors for Mr. Ibrahim Mahama and have instructions from our client to write to you (Manasseh Awuni Azure) regarding the above subject matter.”

The disputed pages of the book state: “The Universal Merchant Bank (UMB), formerly state-owned Merchant Bank, generated uproar in 2013 when it was sold to a private equity firm, Fortiz. At the time, First Rand Bank of South Africa was said to be willing to pay GHS 176 million for 75% of Merchant Bank’s shares, while Fortiz offered only GHS 90 million for 90% of the shares in the state-owned bank. The controversy deepened when it emerged that a brother of President Mahama, Ibrahim Mahama, was one of the big debtors of the then Merchant Bank, which resulted in the bank’s struggles.”

The letter criticizes the lack of sourcing for this information and assumes that Azure has presented this claim as a personally known fact. It also references a legal statement from UMB Bank in 2023, affirming that all debts had been settled and that credit records had been updated accordingly.

Ibrahim Mahama, through his lawyers, is demanding a retraction of the content related to him and an apology within seven days, warning of legal action if these demands are not met. The letter further states, “It is therefore not true that either Mr. Ibrahim Mahama or Engineers and Planners Company Ltd was indebted to Merchant Bank, which resulted in the struggles of the bank.”

The letter concludes by highlighting the impact of these claims on Mahama’s reputation, stating that they have caused his business associates, family, and friends to question his integrity. It ends with a final demand for an immediate retraction and an unqualified apology, threatening legal action if these conditions are not fulfilled within the specified timeframe.