FLASHBACK: Our thumbs will correct mistake we made in 2016 – Former staff of collapsed banks

Some staff of the collapsed banks shared their frustrations over the hardships that the collapse of some banks brought them. They stated that they would ensure that they vote the NPP government out in the next elections. "As a permanent staff of Unibank. My Net salary was gh6,700 a month, I had good allowances. I had 6 dependents. I was able to take care of them by God's grace. I had 2 cars and was building my house. Life was ok for me. Until NPP came to power and forcibly collapsed the bank and now here I am, jobless, frustrated, and depressed. "I sold my cars. My building project stalled. More painful is my dependents looking up to me, and I can no longer help. What did wrong do? My thumb misbehaved in December 2016. I campaigned for Npp in 2016. My friends use that to mock me to date. Well, I, together with my dependents, will be doing 'correction' in December this year," he wrote on Facebook in October 2020. Read the full story originally published on October 19, 2020 by starrfm Some staff of the collapsed banks has taken to social media to share bitter life experiences after the shutdown of their financial institutions by the Bank of Ghana. According to one of them, a former staff of the Darkuman branch of now-defunct Unibank, Johnson Kwarteng Addo, it has been difficult to provide for his dependents since the government collapsed the firms. "As a permanent staff of Unibank. My Net salary was GH¢6,700 a month, I had good allowances. I had 6 dependents. I was able to take care of them by God's grace. I had 2 cars and was building my house. Life was ok for me. Until NPP came to power and forcibly collapsed the bank and now here I am, jobless, frustrated, and depressed. "I sold my cars. My building project stalled. More painful is my dependents looking up to me, and I can no longer help. What did wrong do? My thumb misbehaved in December 2016. I campaigned for Npp in 2016. My friends use that to mock me to date. Well, I, together with my dependents will be doing 'correction' in December this year," he wrote on Facebook. The Bank of Ghana (BoG) in 2017 shut down some local banks for varied reasons. While some banks had their licenses revoked, others have been merged for their inability to raise the new 400 million-cedi minimum capital requirement as of December 31, 2018. For other banks, the central bank revealed acquired their licenses fraudulently and through the use of non-existent capital. The five collapsed banks included Unibank Ghana Ltd, The Royal Bank LTD, Beige Bank LTD, Sovereign Bank LTD, and Construction Bank LTD The same reason for insolvency was cited as a cause of the collapse of the various banks. Within a span of two years, about seven indigenous banks collapsed.