Former CalBank CEO Frank Adu Jnr says he will never forgive former Finance Minister Ken Ofori-Atta and ex-President Nana Akufo-Addo for the personal financial losses he suffered during Ghana’s Domestic Debt Exchange Programme (DDEP).
In a candid interview, Adu Jnr said the debt programme wiped out years of his savings and investments.
“I have never been bitter, but I will never forgive them. They destroyed what I worked hard for,” he said. “And I’m not alone millions of Ghanaians were affected.”
The DDEP, introduced in 2023, forced bondholders to accept lower returns and longer payment periods. While the government said it was needed to secure an IMF bailout, many individuals especially retirees faced major losses.
Adu Jnr, who led CalBank for over two decades, said the program also broke public trust in government and the financial system.
Though officials have defended the move as necessary to save the economy, Adu Jnr’s comments reflect the lingering anger among affected citizens.
