Oscar Doe Questions Sincerity Of Akufo-Addo Govt Over New $600m Bauxite Deal Money After Lavishing 21b GHS On Failed Banking Reform

Chairman of Doscar Group Holdings, HRH Oscar Yao Doe has queried the sincerity of the Prez Nana Akufo-Addo-led administration over the $600m funds recently released for the Bauxite deal Ghana government had with the Chinese government. Having failed in rescuing a lot of Ghanaian-owned banks and other financial institutions, after spending over 21 billion GHS on a controversial reform process, the businessman said there could not be any justification for the money just released by the Chinese. He cited past experience as reason for his conclusions in his post this afternoon. 

Read his post below... 

In 2007/08, The US Government Initiated A Move, Through The US Congress (Parliament) To Bailout Their Banks And Saved Them From Collapse. The European Commission Followed Suit Immediately And Also Created New Laws To Pave Way To Bailout Their Banks. According To Recent Data, All The Bailout Funds Have Been Paid Back To The Respective Governments By The Banks. 

But In Ghana, Hon. Ken Ofori-Atta (Mr. Know It All), the Bank Of Ghana, Led By Ernest Addison (Mr. Zero Reasoning), SEC; Led By Remote  Control, (And) Unfortunately, Under The Leadership Of President Akufo-Add, (Who Holds Degrees In Promise) Wasted Ghanaian Tax Payers' Money (Over 21 Billion Ghana Cedis Based On Data Available At The Moment) To Destroy The Financial Sector In Ghana , (Rather Than) Saving These Marquee Businesses Owned By Ghanaians.

Now, We Are Told They Have Received 600 Million Dollars Advance Payment Out Of The 2 Billion US Dollars They Borrow  From The Chinese Government To Destroy Atiwa Forest. (Ghana's Bauxite Was Used As Barter For That Transaction).

Has Ghana Been Cursed? Or (Is It Just That) We Lack Larger-Than-Life Leaders? Or (Because) Our Leaders Are Masters Of Self-Enrichment Skills?

Not True! Ken Ofori-Atta Never Bankrolled Prez Akuffo-Addo Campaign - HRH Oscar Doe

HRH Oscar Yao Doe has said that it is not true that the minister of finance, Hon. Ken Ofori-Atta has been bankrolling Prez Akuffo-Addo's Campaign since 2006 as being widely speculated. Rather, according to the businessman, he only played a major role of collecting campaign support funds on behalf of Nana Akuffo-Addo.

The Doscar Group Chairman however went on, in a post to reveal that he was the master tactician behind the success of the Akuffo-Addo campaign, particularly during 2006/07 NPP presidential primaries. He listed his many supports to the campaign, drawing a clear comparison with that of Ken Ofori-Atta.

In his post, KingOscar also sent birthday wishes to the finance minister, who he has been so critical of lately. 

Read the full post below...

Breaking News: It's Not Accurate That HON. 'Wicked' Ken Ofori-Atta Bankrolled Prez Akuffo-Addo's Campaign Since 2006/07. It's A  False Statement. Period!

See Below Ken Ofori-Atta's Contributions:

In 2006/07, President Akuffo-Addo Trusted Ken Ofori-Atta To Receive All Campaign Contributions On His Behalf. Of Course, Ken Ofori-Atta And Other Family Members And Friends Also Contributed To The Campaign. 

I, His Royal Highness, The Colourful Oscar Yao Doe Single-handedly Went To See Gaddy Laryea Who Was Then In Charge Of Akuffo-Addo's  Advertising Campaigns At Asylum Down In Accra, I Financed And Paid To Double All The Adverts Going On For The Campaign On Radio, TV, And Newspapers. I Even Placed An Ad On Radio Gold For Akuffo-Addo. I Also Sponsored Many Events On ADOM FM, On Abeiku Santana's Show. I Paid For Majority Of The Campaign Billboards Through My Sister, The First Lady, Rebecca Akuffo-Addo. I Placed Billboards At Circle Overhead,Tetteh Quarshie Overpass, Motorway, Labadi, ETC. It's Not True That Ken Ofori-Atta Paid For The Billboards, It's HRH Oscar Yao Doe Who Paid For Almost 80% Of Akuffo-Addo's Campaign Billboards In 2006/07. The Truth, Stop The Lies! 

I Even Led The Advert Team At Gaddy Laryea's Office To Fast And Pray 3 Times Weekly For Akuffo-Addo Campaign,  Because The Competition From Alan Kyeremanteng Camp Was Unique And Very Challenging. Gabby And Co. Thought It Was A Done Deal For Akuffo-Addo, So Their Efforts Fell Short. I, HRH Doe Intervened With My Unique Capabilities. "The Truth". Ken Ofori-Atta And Co Were Busy Collecting Campaign Contributions On Behalf Of Akuffo-Addo At The Time. They Even Benefited From That Exercise. I Was The Most Effective Master Tactician Behind Akuffo-Addo's NPP Presidential Primaries' Victory In 2007. I Was! 

Therefore, It Is Not Factual That Ken Ofori-Atta Bankrolled Akuffo-Addo's Campaign. It's Completely False. End Of Story! I Played A Major Role Behind The Scenes More Than The So-called Campaign Contributions' Collectors. End Of Story. 

Anyway, Happy Birthday.

Nepotism In Govt: Both NPP And NDC Are Guilty, Only JJ Rawlings Did Not Practice It - Oscar Doe

-Says It Is Now Excessive Under Prez Akuffo-Addo 

HRH Oscar Yao Doe, the Chairman of Doscar Group Holdings does not want Ghanaians currently making a hue over reported Nepotism in the government  to believe that it is a new thing. He said  that in recent history, only former leader, Prez JJ Rawlings did not practice Nepotism. He said nepotism have been always been recorded in past administrations, although it is now so excessive under hhe present administration. 

In a new public post this morning however, HRH Doe said Prez Nana Akuffo-Addo stands tall in the Nepotism Debate, after having "loaded his immediate family including distant cousins, close friends into government positions.

He also wondered why strangely the president has Ignored the sacrifices of siblings of the First Lady who worked harder, day and night to stand by him.

He wrote :

Nepotism In Ghana's Body Polity:  (Both And NPP Are Guilty. But Prez J.J Rawlings Did Not Practice Nepotism "The Truth" He Led By Example.

(During The Tenure of) Prez Kuffour, (It Was) Very Limited. His Brother, Dr. Addo-Kuffour Was Appointed A Minister.

Prez Mills Appointed His Twin Brother, An Advisor.

Prez Mahama Appointed His Niece Deputy Minister, Her Husband (FDA) And Gave Ghana  Bauxite Reserve To His Brother (Unwise Decision) Very Childish! 

But Prez Akuffo-Addo Stand Tall In This Debate! He Has Loaded His Immediate Family Including Distant Cousins, Close Friends Into An Articulated Truck And Drove Them All The Way Into Government Positions. But Strangely He Has Ignored The Sacrifices Of The First Lady's Siblings Who Worked Harder, Day And Night, Over Decades, To Stand By Him. 

From Another Angle, You Can Also Sympathize With Prez Akuffo-Addo. Because Many Of His Immediate Family Members; Including Cousins, Close Friends Have Stood By Him Almost 2 Decades, Throughout His Political Career. Therefore, On The Balance Of Scale, I Think He Can Be Forgiven Even Though It Is Excessive. The History Books Will Capture Prez Akuffo-Addo's Appointments As Such. There Are Many More Names In Government That Were Not Captured On The List (Being Circulated Around) Because The NDC Rushed To Collate It For Their Political Benefit.

I Bet To Differ On The Ahwoi Brothers, Alhaji Mahama Iddrisu, Harry Sawyer, Lee Ocran, Betty Mould..They Are Political Icons For Ghana In Frontline Politics Since 1970s, 80s & 90s. (They Have) Served in Parliament, Council of State, Etc. No Family Relationship With Prez Rawlings, Mills & Mahama.

Alhaji Mahama Iddrisu Is A Giant Political Pillar For Ghana. He Influenced Prez Rawlings To Allow Ghana Into A Democracy In 1992.

Hon Hannah Tetteh Served in Parliament. A Very Capable Politician, No Family Relationship With Prez Mills And Mahama.The Genius Lawyer Tony Lithur, Alex Mould, Oye Lithur, Sawyer Family Etc. Are All Classic Ghanaians With Qualifications And Capabilities to Serve in Government. (No Family Relationships With Prez Mills And Prez Mahama. 

We Have An Obligation To Educate Our Youths And Upcoming Generations On Ghana Politics With The Truth. 

Ken Ofori-Atta Went to Yale University to Learn Wickedness, His Actions Haunting Prez Akuffo-Addo -HRH Oscar Doe

-Says 'Support For Nana Is Getting Softer Everyday

As the countdown to the next elections are drawing near, City Bizman, HRH Oscar Yao Doe has said that support for President Nana Akuffo-Addo is getting softer every day, no thanks to the handwork of some key men in his administration who did irreparable damage to the soul of Ghana's economy. He also said that lamentations from some key members of the ruling NPP over the consequences of the actions of these key government officials on the president's chances in the elections, may have been coming a little too late. KingOscar even threatened that most of Prez Akuffo-Addo's bankrollers may campaign against him at the polls because of his supposed laziness in checking the excesses of some government officials, his cousins and their advisors.

He was reacting, in his post this morning, to a report that quoted outspoken Member of Parliament for Assin Central, Hon. Kennedy Ohene Agyapong firing the Bank of Ghana Governor, Ernest Addison for not taking into account the interest of the ruling New Patriotic Party  (NPP) in his line of work at the Central Bank and yet expects ‘others’ to campaign to win 2020 for him to continue in office.

He was reacting to news of procurement irregularities in the selection of Bank of Ghana receivers, saying the receivers were handpicked, instead of a competitive bidding process which would have ensured that the country got value for money and catering for NPP interest.

As he had usually done recently, HRH fired the minister of finance, Ken Ofori-Atta and Governor of the Bank of Ghana, Dr Ernest Addison in his post for their roles in the banking industry saga. He said Ofori-Atta is a genius whl went to Yale University to 'learn wickedness'. And this wickedness, may cost President Akuffo-Addo's  campaign in the election, he said. 

Read his full post below... 

Seems This Message Is Too Late Coming! The Empty-Headed, Governor' Revocation' Ernest Addison And Hon. Ken 'Wicked Genius' Ofori-Attah Has Already Done Irreparable Damage To The Soul Of Ghana's Economy. Hurting Many Families. 

They Have Unfairly Destroyed Many Ghanaian-Owned Businesses Without Any Common Sense Justification.

The Wicked Ken Ofori-Atta Went To Yale University To Learn Wickedness. And Empty-Headed Addison Obtained PhD For Zero Reasoning. Our Support For President Akuffo-'I Don't Care-Addo Is Getting Softer Everyday! 

Who Knows Its Even Likely Most Of His Own Bankrollers,  Including Myself And Supporters May Even Campaign Against Him? Which I Think Will Be In Order, Based  On The President's Laziness To Care, And The Attitude Of His Cousins, Government Officials And Cousins' Advisors.

HRH Oscar Doe Pens Thought-Provoking Open Letter To President Akuffo-Addo

-Warns Against State-Controlled Economy

-Advises Prez To Focus On Rescuing Troubled Ghanaian Businesses 

The chairman of Doscar Group Holdings, Oscar Yao Doe has written an open letter to President Nana Akuffo-Addo over the ongoing banking scandal in Ghana. In the thought-provoking open letter, where he advised the Akuffo-Addo administration against the idea of state-controlled economy, KingOscar urged the president to act decisively and urgently to see to the rescue of troubled businesses in the country, while ensuring that the ones that have been taken over are returned to their original owners.

Read the post below... 

Open Letter To The President Of The Republic OF Ghana, H.E Nana Akuffo-Addo @nakufoaddo

Greetings Mr President,

It Seems We Are Encouraging And Perhaps Deepening The Era Of State-Controlled Economy. Even Though It's Not A Bad Idea To Strengthen State-owned Companies, But The Question Is Can They Stand The Test Of Time Under Your Successors?

The Only Few Big Companies In Ghana Today Are All Government-owned. This Is Alarming Because There Is No Guarantee That Your Successors Will Follow Your Direction. 

Mr President Recently The Financial Sector Was Added To This State-owned Company Syndrome In 2017/18. Many Ghanaian-Owned Banks Were Taken Away And (Were) Turned Into State-owned Banks; Namely:Consolidated Bank Ghana (CBG), State-Owned GCB Also Benefited.

After Ghana Government Took Away Those Banks From Their Original Owners, Are We Saying The Owners Should Go Empty-handed To Die? Something Must Be Done.

The State Is Now The  Sole (100%) Owner/ Shareholder Of Consolidated Bank Ghana (CBG), So, It's Okay? (Is That The) End Of Story?

Mr President, Consider The Business-Owners Who Work Harder Through Many Years Of Sacrifices To Build Those Companies. They Deserve Compassion.

Mr President, Please In Case Your Successors Decided To Return All Those Banks Back To Their Original Ghanaian Owners The Day After He Or She Is Sworn In? What Will Be Your Take?

In Case Your Successors Decided To Sell All State-owned Companies And Businesses To Ghanaians? What Will Your Take On That Be?

In Case Your Successors Decided To Payout Heavy Compensation From State Coffers To All The Affected Ghanaian-Owned Banks And Businesses That Were Forced To Collapse, What Will Be Your Take On That too?

In Case Your Successors Decided To Prosecute All The Officials Who Were Involved In The Decision-Making Leading To The Collapse Of Those Banks, What Will Be Your Take On That As Well?

Mr President, I Strongly Believe The Above Scenarios Are Very Likely.

Mr President If There Is A Way Out To Grant Compassion, Forgiveness, And Return All Those Banks Back To Their Original Owners (Regardless), That Would Be Awesome And Decisive. It's Doable! Your Decision To Act Is What Matters, (As) History Has Taught Us.

I Have No Regret Supporting Nana, But I Disagree With President For Failing To Rescue Ghanaian Businesses, Banks - Oscar Doe

The chairman of Doscar Group Holdings, Oscar Yao Doe, who has been hitting the economic team of President Akuffo-Addo as well as the leadership of the Bank of Ghana hard lately (for culpability in the collapse of some indigenous financial institutions and local companies), has said that he does not have any regret for supporting the president to power in 2016. He however reiterated that his support for the President's family would not stop him from voicing his opinion about the President's failure (through actions and decisions) to rescue locally-owned banks and other businesses that were in distress.

Read his post on the social media this morning below.. 

"I Have No Regret Supporting H.E Akuffo-Addo As Family. (But Here Are) The Reasons Why I Disagreed With His Actions, Decisions, And Failure To Rescue Ghanaian-Owned Businesses and Banks!

In 2017, It Became Obvious That The Bank of Ghana's Responsibilities to Supervise Banks Operating in Ghana Has Gone Into Sleeping Mode. But No Action Was Taken To Purge The Bank of Ghana Itself. The Situation Persisted Till UT Bank and Capital Bank Went Down. It Was Taken Over By GCB With The Government of Ghana Supporting The Process With Over 2 Billion GHS. 

I Thought The So Called Genius Brains at The Finance Ministry Will Put Ghana's Interest First By Initiating Immediate Action For A Stress Test For All The Banks And The Financial Sector (As A Whole) In Ghana, To Ascertain The True Picture of Their Financial Strength And Challenges Facing Them, So The Appropriate And The Best Option Could Be Recommended By The Finance Minister, Hon Ken Ofori-Atta.

At That Moment, The Government, Through Ken Ofori-Atta Was Reluctant to Release Money to Pay The Outstanding Debt Ghana Government Owed Contractors Who Owe Majority of The Local Banks Loan Portfolios. Ken Ofori-Atta And Co Deliberately Refused To Settle The Contractor's Debt, Or Pay Their Debts On Their Behalf Directly To The Local Banks.

The Situation Was Deteriorating Because Financial Markets Don't Like Panicking and Speculations.

At This Stage, They Saw The Vulnerability In The Local Banks To Sink, And Also Saw The Opportunity It (Could) Bring To Them Personally. 

So, Instead of Applying The US Model Or The European Commission Precedent to Save The Local Banks, And Then Put In Stringent Measures Afterwards (Including Government Appointing Their Preferred CEO'S To Lead Those Affected Banks Till They Pay Back Every Dime To Government Coffers), They Applied Vendetta And Ego, (Feeling Like) 'We Are Powerful Now, You're Now Powerless! 

They Used OUTDATED Laws to Destroye The Banks,Told The Owners To Go Empty-Handed To Die.

God Tested President @nakufoaddo That Crucial Moment to Show Leadership. (It Would Have Just Been A Case Of) "Forgive Their Errors, They Are Ghanaians". IT WILL TAKE 20-40 YEARS TO CREATE SUCH BUSINESSES AGAIN" HE FAILED TO SHOW COMPASSION" WHY CATHEDRAL?

Sack BoG Gov Now! Oscar Doe Renews Call To President After Honouring SIT Invitation

The Chairman of Doscar Group Holdings, Oscar Yao Doe has reiterated his call to the President, Nana Akuffo-Addo to fire the Governor of the Bank of Ghana, for failing in his role, by allowing KPMG Ghana, Nii Amanor Dodoo, Pricewater House, and others who allegedly prepared questionable audit reports that led to the collapse of some indigenous financial institutions and local companies in the country recently, to be appointed as Receivers for the affected organizations. 

The philanthropist/businessman however commended men at the SIT for their professionalism and conduct during his visit to honour their invitation in Accra yesterday. 

Oscar Doe also said he trusts the president to act fast on this development, unless he (the President) does not want Ghanaians to know he is in charge. 

The Doscar Group boss in a post this morning touch on all these, as what went down at the SIT office yesterday. Read it below.. 

"Nii Amanor-Dodoo declared officially as a Deceiver-in-Chief  who led KPMG to cook fictitious audit reports (and) misled the Akuffo-Addo government to destroy Ghana's indigenous banks and local businesses.

Yesterday, I appeared at the Special Investigation Team (SIT) Office to honour their invitation. Can you imagine the alleged Demand Letter, which Nii Amanor-Dodoo stood on to claim that I have threatened to kill him doesn't even exist? The so-called Demand Letter turned into a Ghost!

Nii Amanor-Dodoo is now officially a confused Looser-in-Chief, and a big comedian. Wow! Ghana, Ghana, Ghana,.. Ananasem! Ghana has now turned into a comedy! Drama everyday! 

He thought he could mislead the Police to harass me. He had forgotten that our Police Forces are classic and top-notch. The guys at SIT are honest, compassionate, and caring professionals who have been in their institutions for over 2 or 3 decades. They (must) have experienced many dishonest cases in their careers! I salute our gallant, independent state institutions.

I urge the President, Nana Akuffo-Addo to sack the Governor of the Bank of Ghana, for appointing Nii Amanor-Dodoo and other Heads of accounting firms as Receivers after they led KPMG, Price Waterhouse and others, (as Senior Partners) to mislead the Ghana government with cooked-up audit reports to take down many indigenous banks and local businesses, which has now brought the President's  signature visions, 'Ghana Beyond Aid' and 'The Year Of the Return'to question!

Yes, there were iniscipline within our local banks. A child without supervision always go wayward!The Bank Of Ghana supervision was compromised and that's why the local banks went gaga, like it happened in the US in 2008!

The best option for the President is to proof to Ghanaians that the bulk stops with him, and that he is interested in (finding out) the truth because of the Oath he swore to! I  trust Nana Akuffo-Addo to act! Who knows? Unless otherwise! 

God bless our mother land, Ghana!"

Banking Scandal: I Want To See Real Action To Be Convinced That Nana Is In Charge Of Ghana -Oscar Doe

.. Recommends sack of BoG Gov., Finance Minister 

The Chairman of Doscar Group and Eurostar Global Limousines, Oscar Yao Doe has reacted to the statement by the President, Nana Akuffo-Addo yesterday where he lampooned the Bank of Ghana (BoG) for its shoddy handling of issues in the country's financial sector, that led to the collapse of some banks and other businesses. 

KingOscar this morning, said although he does not doubt the words of the president, he wants to see real, fast actions taken by the president to deal with the issue headlong, so he (Oscar) could be convinced that the president is in charge of the country. He gave some hints about how the president can best handle the case too. 

In his post today, he expressed optimism tht the wrong history already created could be corrected and those who have been unfairly treated can be appeased. Read his post below... 

"With all due respect to the President of Ghana, H.E Nana Akuffo Addo @nakufoaddo, even though I do not doubt his words, I want to see (real) action so I can be convinced he is truly in charge of the country!

I believe the history of Ghana can be corrected and the souls of those treated unfairly can be healed!

(President Akuffo-Addo) @nakufoaddo has an obligation to Ghana, because he swore an oath of office in public to hold the TRUTH for Ghana, and defend its interests, even with his blood. Therefore, action is needed immediately to proof that he is in charge of Ghana, and not those empty-headed egoistic and vendetta-minded guys. (So, he should do the following..)

1. Initiate investigation to find out why Nii Amanor Dodoo, who led KPMG to audit the banks was himself appointed as the Receiver of the same banks he audited in his capacity as the head of KPMG Ghana. 

2. Investigate same scenario within other banks where the head of the audit firms that did the audit were also appointed as Receivers (to) enabled them cover up their own rot.

3. Suspend the Governor of the Bank of Ghana, 1st Deputy Governor and 2nd Deputy Governor for committing a once-in-a-lifetime error to hurt the eonomy of Ghana. 

4. Sack the Finance Minister, Hon. Ken Ofori Atta, and his deputies for failing to follow the US Model, or the European Commission precedent (in 2008 and 2009) which saved European Banks who were in worse situation than the banks in Ghana.

See The European Precedent Below:

State aid to businesses, including banks, is generally prohibited under EU law as it distorts competition. In order to ensure that state aid does not compromise the integrity of the EU's single market, it is subject to control by the European Commission. Given the large sums involved in state aid to banks and its potential to distort competition, the Commission's role in controlling it is of paramount importance. In some circumstances, however, such government intervention may be necessary in order to make the economy work properly.The 2008 financial 

(or banking) crisis was considered one such instance. It saw an unprecedented increase in state aid to banks in the form of “bail-outs”. These were deemed necessary.

See Below The US Precedent:

The Emergency Economic Stabilization Act of 2008 created the $700 billion Troubled Asset Relief Program to purchase toxic assets from banks. The funds for purchase of distressed assets were mostly redirected to inject capital into banks and other financial institutions while the Treasury continued to examine the usefulness of targeted asset purchases.