Parliamentary committee to probe collapse of uniBank and UT Bank

The Parliament of Ghana has agreed to set up a 7-member committee to probe the collapse of uniBank and UT Bank during the 2017 financial sector cleanup exercise.

Speaker Alban Bagbin made the announcement after the petitions of Prince Kofi Amoabeng and Dr. Kwabena Duffuor were officially presented on the floor of parliament by MP for Bawku Central, Mahama Ayariga on Tuesday, March 23, 2021.

The two businessmen petitioned the house to investigate the conduct of the Bank of Ghana, BoG; and the Ghana Stock Exchange (GSE) over the revocation of their bank operating licenses.

They are also seeking to find answers to why their banks were delisted from the country’s stock exchange.

Their petition also calls for the restoration of their licenses by the regulatory bodies.

Both the Majority and Minority caucuses in parliament are expected to submit the names of MPs to form the committee by March 31, 2021.