COLLAPSING OF BANKS & OTHER FINANCIAL INSTITUTIONS AN NPP AGENDA-NDC COMMUNICATOR


National Democratic Congress (NDC) communicator Nana Banahene has disclosed that President Akufo-Addo’s administration has only resulted in the collapsing of supposed insolvent existing banks while there are other avenues to address this.

Considering over 5000 workers who will lose their jobs as a result of this unwarranted action he believed that government and Bank of Ghana could have adopted mechanisms in place to support the insolvent banks.

In an interview with Kwabena Agyapong on Rainbow 87.5 FM, he slammed the governor of the central bank Dr. Ernest Addison for failing to monitor and regulate the micro finance companies in the country.

“Bank of Ghana (BOG) only takes pride in riding its luxurious vehicles around with it air conditions on but reluctant to perform its core mandate,” he added.

The closure of over 347 micro finance companies by the Central Bank came as a shock to most Ghanaians especially it depositors who are currently sitting on tenterhooks.

Mr. Banahene in his submission was still on the heels of the governor “the governor is always seen and heard on TV and radio stations making press conferences and collapsing banks. He added.”

He further disclosed that Vice President Dr. Mahamudu Bawumia when he was in opposition claimed that NDC will collapse the banks” yes Ghanaian voted out the NDC government but rather his party NPP is the one collapsing banks and microfinance companies.

“The NPP claims providing jobs forgetting that all this banks workers will lose their jobs he said”

He cited an example that during the Obama administration in US some banks suffered financial crunch but Obama’s administration did not blame Bush administration they supported the banks to bounce back but this not the case with Ghana.

He also alleged that some officials of the BoG only move around the country extorting money from micro finance companies that fail to report accurately.

By: Kwakye Emmanuel (Intern, Rainbow Radio)

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