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General News of Thursday, 27 February 2020


Kofi Wampah,others must face prosecution for bank crises - NPP Communicator

Former Governor of the Bank of Ghana, Dr. Henry Kofi Wampah Former Governor of the Bank of Ghana, Dr. Henry Kofi Wampah

A communicator of the ruling New Patriotic Party (NPP), Francis Annom Boateng affectionately called Fransoa, has said former Governor of the Bank of Ghana, Dr. Henry Kofi Wampah and other Directors should be arrested for mismanagement of the economy during their era which led to the collapsed banks and revocation of licenses of some 15 savings and loans companies.

According to Francis Annom Boateng, the facts available to him suggest that the collapse of the banks can be traced to his era as the Governor of the Bank of Ghana.

“The former Governors of the Bank of Ghana, Dr. Henry Kofi Wampah and Dr. Abdul Nasiru must be prosecuted for the mismanagement of the banking sector under the erstwhile John Dramani Mahama administration,” Francis Annom Boateng told Lawyer Ohene Gyan on Pae Mu Ka on Accra-based Kingdom FM 107.7.

“I also want to place on record that all those found culpable in this matter ie staff of BoG or directors of the closed banks should be prosecuted because the amount of money that we hear has gone into bailing out of these banks could be used for a lot of social interventions in this country.”

Francis Annom Boateng weighed into the crisis at the banking sector calling on the Attorney General to prosecute officials culpable in the scandal.

Additionally, he called on State security institutions to conduct further investigations beyond what the Central Bank has done and prosecute all persons who may be implicated to deter others.

Some officials of the Bank of Ghana, are likely to face prosecution following a similar action by state prosecutors against Chief Executive Officers (CEO) of UT and Beige Banks, President Akufo Addo has indicated.

In 2017, the Bank of Ghana embarked on a massive clean-up exercise in the sector which led to the revocation of the licences of some nine banks including the Beige Bank and UT Bank.

Meanwhile, the Bank of Ghana has said it has presented the names of persons responsible for the collapse of the five banks to the Economic and Organized Crime Office (EOCO) for investigations as the new receiver starts work.