Minority wants inventory report on collapsed banks, MFIs
The Minority in parliament is demanding an inventory report on the collapsed banks and microfinance institutions from the government.
According to the Minority Leader, Haruna Iddrisu the government has not been accountable and transparent with Ghanaians following the revocation of the licenses of the banks and microfinance institutions from 2017 till now.
“We are is demanding greater accountability and transparency from government and more specifically from the Bank of Ghana,” he told Business 24 at a press conference in parliament house.
It will be recalled that the Bank of Ghana in 2018 revoked the licences of five banks of uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited which later transition to the Consolidated Bank Ghana(CBG).
For the minority, government has breached section 1 of the banks and specialised deposit-taking institutions Act, 2016 Act 930 which requires that the receiver provides an inventory report to the Bank of Ghana.
“We want to know the inventory report on the collapsed banks and on the micro and savings institutions, what it remitted to the Bank of Ghana –if yes where is it, we demand respect to the letter and spirit of the specialized deposit-taking act 2016, act 930 and that this country is governed by law”
The minority also contend that in 2018 when government issued a sovereign bond, it dedicated an amount of GH₵450m for Consolidated Bank Ghana (CBG) to finance the sector bailout
“We demand the owners of CBG, we need to know because public money is being invested in CBG, more importantly we are demanding that the GH₵450m so spent on the bond issuance money –is it equity or loan, I do not know the answers and l am demanding answers to that investments of state resources”
Haruna Iddrisu also called for an audit of the paid depositors in order to ascertain the veracity of the president’s claim of paid up money to majority of customers who had their funds locked up with these financial institutions.
Government’s spokesperson on Finance and a member of the Finance Committee, Daniel Okyem Aboagye maintained that the financial crisis was caused by the past administration and that they failed to nip it in the bud when the cracks showed during their time.
“Our friends in opposition are responsible for the financial crisis NPP inherited. Instead of them finding strategies to help solve the issue, they are going about making noise. They have no message for Ghanaians, if they are ready for debate on the financial crisis the majority is ready to grant them.
They let many Ghanaians unemployed, NPP has created 100,000 jobs for Ghanaians” he said.