The controversy surrounding the sale of Merchant Bank to Fortiz is far from over as a group calling itself Public Action Against Corruption and Abuse is scheduled to embark on a peaceful demonstrate in Accra on Thursday January 15, 2014.

Spokesperson for the group, Atik Mohammed disclosed this on Asempa FM’s Ekosii Sen programme Wednesday.

He stated unequivocally that the deal is a “criminal transaction” by government to sell state property to its cronies at the expense of SSNIT contributors.

Fortiz has acquired 90 percent stake in Merchant Bank with GH¢c90 million. The sale became a subject of legal tussle after anti-graft campaigner, Andrew Awuni challenged the sale at the High Court. But the court ruled that he lacked locus.

After, the Minority in Parliament which has described the sale as fraudulent filed a motion in the House demanding an enquiry in the purchase of Merchant Bank by Fortiz.

But Speaker of the House, Edward Doe Adjaho dismissed the motion on grounds that Parliament cannot be seen to be prejudicing the matter which is already in court.

Based on this backdrop, Atik Mohammed feels they are left with no other choice than to hit the streets.

He said the demonstration will start from Obra spot, through some principal streets in Accra and converge at Childrens Park where the gathering will addressed.

The Peoples National Convention (PNC) Policy Analyst noted that they will not allow a state asset like Merchant Bank to be sold for a “paltry sum”

 “This deal should be terminated with immediate effect; it is in our corporate interest to ensure the deal does not hold”.

Atik Mohammed was emphatic that Fortiz, a company without any proven record of bank management is not fit to buy Merchant Bank.

He said if government fails to heed to their plea, “we will picket at all Merchant Bank branches nationwide and warn customers about the risks involving doing business with the bank”.

Other leading members of members of the group include: editor of the Daily Searchlight newspaper, Kenneth Agyei Kuranchie, Deputy Communications Director of the National Democratic Party (NDP), Ernest Owusu Bempah, Joseph Otoo and William Akelesi.