Interest rates in banking sector is unacceptable- Prof Ebo Simpson

Professor Philipe Ebo Bondzi Simpson, Founding Dean of the Faculty of Law of the University of Cape Coast, on Thursday noted that interest rates in the country’s banking sector was unacceptable.

He said banks which operates in the country are required to follow the national agenda for the development of the growth of the banking sector.

Prof Simpson was speaking at lectures organised by the Ghana Institute of Management and Public Administration (GIMPA) on the theme: “Law and Nation-Building.”

He was speaking on the topic “Green Jurisprudence: “Law’s Place in Sustainable Development to mark the Law Week of the Institute in Accra.

Prof Simpson who touched on land disputes said, to minimise the phenomenon, there was the need for Regional Land Allocation Committees to be constituted by Government with a non partisan affiliation.

He said the committees could be a seven- member committee with an appointee by the President as a Chairman.

Prof. Simpson suggested that two members of the committee should be nominated at the regional level with at least one member of parliament irrespective of his or her political affiliation as well as the Regional Land Officer and two ordinary locally educated persons resident in the region.

He noted that in order for Ghana to improve on its tax collection system, there was the need for the country to introduce a national proportional income tax and an annual citizens tax that would inject the spirit of public mobilisation of funds.

Mr Prince Oduro Mensah, President of the Law Students of GIMPA observed that the foundation of national development was based on the rule of law adding that “A society where there is no law, there is no development”.

Mr Mensah said the week celebration would introduce and market the GIMPA Law School to the international community.**