Mahama made this promise during the launch of the NDC's manifesto in Winneba, asserting that the NPP government had unjustly shut down these institutions. However, Dr Bawumia, speaking during a media engagement, expressed surprise at Mahama's stance, arguing that the NPP's intervention was crucial in safeguarding the deposits of 4.6 million bank customers who would have otherwise lost their funds. He explained that many of the affected banks had engaged in egregious practices, including extending loans far beyond legal limits, misusing capital, and investing in private properties. "The banking sector was on the brink of collapse," Dr Bawumia stated, highlighting that the merger of some banks was necessary to prevent a systemic crisis. He advised Mahama to acquaint himself with the reports from the Receiver and the Bank of Ghana (BoG) before making further comments on the matter. Dr Mahamudu Bawumia in Takoradi Pulse Ghana Dr Bawumia elaborated on the gravity of the situation, noting that the BoG had provided significant financial assistance to some banks in an attempt to stabilise them.