Collapse of Banks: Influential people should step aside to allow prosecution to go on-Minority

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Members of some political parties in Ghana, have called on the President, dignitaries, traditional rulers and all influential people to step aside to enable the prosecution of those who caused the collapse of the seven banks in Ghana.

They also called on the Bank of Ghana to expedite investigations into the collapse of the banks to enable Ghanaians, especially those who lost their jobs, know exactly why they lost their jobs.

In August 2017, the Bank of Ghana gave GCB Bank the green light to acquire 2 local banks, UT Bank and Capital Bank.

In August 2018, the Bank of Ghana announced the creation of Consolidated Bank to take over 5 struggling local banks.

The 5 five banks were Beige Bank, Sovereign Bank, Construction Bank, The Royal Bank and Unibank.

The Governor of the Bank of Ghana, Dr. Ernest Addison, said that some of the collapsed banks presented fake documents that made it seem they could meet the new capital requirement.

Meanwhile, it emerged that the defunct Capital Bank, allegedly spent the GH₡610 million given to them as liquidity support by the Central Bank.

Speaking on Atinka TV’s Morning Show, Ghana Nie, the National Organiser of Liberal Party of Ghana (LPG), Jerry Owusu Apau raised concerns about the delay of investigations into the matter, calling for the prosecution of culprits in order to serve as a deterrence to the incoming generation.

“In Ghana at a point we have to overlook dignitaries begging on behalf of those who flouts rules and regulations. The president should wake up and ensure that those who caused the fall of the banks are prosecuted,” he said.

Meanwhile, the National Youth Organiser for People's National Convention (PNC), Desmond Twumasi Ntow also noted that people complain a lot about the collapse of the banks while they continue to expect explanations as to what really caused the collapse of the banks.

“So if they do not make us know what exactly is going on, we will wake up one day and hear something else. If they do not give us details we will end up guessing and imposing things on them. For how long will they do investigations? What becomes of the workers who lost their jobs,” he quizzed.

“We do not know when you are going to finish with the investigation and we also do not have a clue of what may happen next.” He added.

Desmond also stated that, “If we allow information flow, it will go a long way to help us all. Even the Bible states that Spare the rod and spoil the child, therefore no matter where the person has gotten to in life, if they defy rules and regulations, they must be prosecuted.”


Ghana|| Porcia Oforiwaa Ofori