Investigative journalist Manasseh Azure Awuni has issued a retraction and apology to business mogul Ibrahim Mahama regarding a statement in his latest book, “The President Ghana Never Got”.

In the book, Manasseh claimed that Mr. Mahama owed Merchant Bank $28 million.

However, Mr. Mahama's lawyers clarified that their client had never applied for or received any facility from Merchant Bank in his personal capacity. Instead, they explained that Engineers & Planners Company Limited, a separate legal entity from Mr. Mahama, had taken out the loan. They further stated that in February 2014, the company paid off the $28 million in full and final settlement of the loan.

Mr. Mahama instructed his lawyers to demand a retraction and apology from Manasseh within seven days, threatening legal action if the misinformation was not corrected. He argued that the publication had damaged his reputation as an honest businessman.

In response, Manasseh has complied and issued an apology.

In a Facebook post, he stated, "In my latest book, “The President Ghana Never Got”, I discussed the banking crisis under the Akufo-Addo administration and how some banks were saved from possible collapse. In providing a background to the Universal Merchant Bank (UMB) and the circumstances under which its new owners acquired it in 2013, I mentioned the controversy that arose when it emerged that one of the big debtors of the erstwhile Merchant Bank was Mr. Mahama."

He continued, "The fact is that the $28 million debt I referenced was owed by his company, Engineers and Planners Company Limited, the legal entity, and not Mr. Mahama personally. Consequently, I retract the said reference to Ibrahim Mahama as the debtor and apologise for any adverse effect that may have been occasioned by said publication."

Manasseh acknowledged that it was a "genuine oversight" and has committed to correcting the error in the online version of the book and in future reprints.