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General News of Wednesday, 12 September 2018

Source: adomonline.com

Collapsed Banks: BoG officials connived with MDs to dupe Ghana - Kennedy Agyapong

The Member of Parliament for Assin Central, Kennedy Ohene Agyapong is blaming officials at the Bank of Ghana (BoG) for the recent collapse of five indigenous banks.

He said all officials at Bank of Ghana should be arrested first before any stiffer punishment is meted out to the managers of these collapsed banks for the actions.

He is of the firm conviction that, officials of bank of Ghana failed to supervise before granting license to these collapsed banks.

“If government wants to take action on these collapsed banks, they should arrest all those officials at bank of Ghana before attacking the managers of the banks. Those who used the money to build mansions should all be arrested.

“They connived with the MDs to dupe the country. They need to be dealt with” he said on Adom TV Tuesday.

The collapse of the banks – Unibank, Biege Bank, Royal Bank, Construction Bank and Sovereign Bank – has resulted in the loss of thousands of jobs in the banking sector.

But the outspoken MP expressed concern about the development and called for a probe into what went wrong after similar fate had befallen two other banks, UT Bank and First Capital Bank, within a year in order to help prevent future occurrences.