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General News of Wednesday, 12 September 2018

Source: citinewsroom.com

Adongo is on his own; Minority not backing his boycott – Fifi Kwetey

Fifi Kwetey564 Fifi Kwetey, MP for Ketu South

NDC MP for Ketu South, Fifi Kwetey, has said the decision of his fellow National Democratic Congress (NDC) MP, Isaac Adongo, to boycott of the parliamentary probe into the banking sector crisis is not supported by the Minority Caucus.

Mr. Adongo, a member of Parliament’s Finance Committee, stormed out of the first hearing on Wednesday describing it as a “rubber stamp process.”

He told the press the committee had not been furnished with requisite documents to ensure an effective probe.

The MP suspects there is an attempt at a cover-up following the widespread rot that led to the collapse of seven banks.

But Mr. Kwetey, the Ranking Member on the Finance committee told the media Mr. Adongo’s position “is his individual position. He does not represent the Minority.”

“The views he expressed earlier regarding returning assets to owners of the bank is his individual position as well. He represents none of us on the Finance committee and I can say by extension that he doesn’t represent the Minority as well.”

Meanwhile, the probe will continue today with the expected appearance of the receivers, PWC and KPMG as well officials of the new Consolidated Bank Ghana.



Adongo’s contentions

Officials of the Bank of Ghana, including the Governor, Dr. Ernest Addison, appeared before the committee on Wednesday morning.

Mr. Adongo expected that he would have in his possession documents pertaining to the asset quality reviews at uniBank or the terms of reference for the work KPMG did in relation to the bank, among others.

“These are the documents they gave to us; statement of the banking sector, press release by the Bank of Ghana, Governor’s speech. When it comes to KPMG, they only give you conditions and opinions of uniBank.”

The MP insisted that “those documents will give me a clearer understanding of what happened and not what the government tells me. I must read the documents and ask the Governor the appropriate questions.”

The Finance Committee of Parliament is holding these hearings from September 5 to September 7.

Representatives from Consolidated Bank, KPMG, PwC and the Ministry of Finance are expected to appear before the hearing.

But owners and directors of the seven banks that have collapsed, some under controversial circumstances, will not be invited.