NDC is a scam; it’s a government of settings - Minority on suspended 0.75% MoMo charge

Speaking at a press conference in Parliament on Tuesday, May 26, the Minority Leader, Alexander Afenyo-Markin, questioned the circumstances surrounding the introduction of the charge, despite its recent suspension by the Bank of Ghana. According to him, the suspension alone does not resolve concerns about transparency, consultation, and coordination between state institutions and private companies involved in the implementation of financial policies that directly affect Ghanaians. “The NDC is using the Bank of Ghana and a private sector company to enforce this levy. We have a question for the Finance Minister; he must immediately come to Parliament on Thursday to explain the circumstances leading to the imposition of this 0.75% charge on Mobile Money transactions,” Afenyo-Markin stated. He added that the Minority was not satisfied with the suspension announcement, insisting that government must explain why the fee was introduced in the first place. “We are not interested in the suspension. We are interested in how, but for the public outcry, they were going to spring this surprise on the Ghanaian public,” he said. The Minority Leader further accused the NDC government of failing to honour its promises. “In conclusion, we are saying that the NDC is a scam. It is a government of settings. They do not believe in what they say. It says one thing and does another. It doesn’t keep its promises; it is a government of propaganda,” he stressed. The controversy follows a directive from the Bank of Ghana ordering Mobile Money Fintech Limited (MMFL) to suspend the implementation of the proposed 0.75% fee on direct wallet-to-bank transfers. The charge had been scheduled to take effect on June 1, 2026, before the central bank intervened to allow for further stakeholder consultations. In a statement, the Bank of Ghana explained that the decision was aimed at ensuring that any changes within the mobile financial services sector are introduced fairly, while protecting consumers and supporting their financial wellbeing. Earlier, MTN Ghana had announced plans to end free Mobile Money wallet-to-bank account transfers and replace them with a 0.75% transaction fee, capped at GH₵5. Customers were informed through a text message sent on Monday, May 25, 2026, notifying millions of MoMo users that all transfers from MoMo wallets to bank accounts would attract the new charge from June 1. The fee was to apply even when customers transferred money between their own Mobile Money wallets and personal bank accounts — a service that had previously been free. MTN explained that a transfer of GH₵100 would attract a charge of 75 pesewas, while transfers of GH₵667 and above would incur the maximum fee of GH₵5. The telecom company clarified that the new charge would affect only wallet-to-bank transfers, while wallet-to-wallet transfers as well as agent cash-in and cash-out services would continue under their existing fee structures. The announcement sparked widespread public criticism, with many Ghanaians expressing concern over the growing cost of digital financial transactions in a country where Mobile Money services play a major role in everyday commerce and payments.