Member of Parliament for Bolgatanga Central Constituency, Isaac Adongo, has boycotted parliament’s probe into the collapse of some seven local banks.
Parliament scheduled Wednesday, 5 September 2018 to begin investigations into the circumstances that led to the collapse of the banks.
However, Mr Adongo, a member of the Finance Committee of Parliament decided to walk out of the first meeting.
According to him, the parliamentary probe is “a rubber stamp process, it will deliver no value [and] I am not willing to be part of it”.
The Minority MP pointed out that the documents that the committee members were given were statements from the banking sector and press releases by the Bank of Ghana (BoG).
He further stated that documents from audit firm, KPMG, only contain conditions and opinions on uniBank.
“There were five asset quality reviews at uniBank, there were four of them in one month; we don’t even have the report. They claim that there was a preliminary work done by KPMG to take a decision to go into it [but] we don’t have that report,” he added.
He further revealed that the committee members do not know the terms of reference of the job that KPMG did, and “we don’t even know the full report of Boulders [Advisors], except an executive summary of Boulders’ work”.
For him, the committee has not been provided with all the relevant documents and other materials to constitute an independent and credible work, hence his decision not to “take part in rubber stamp meetings”.
Officials of the BoG and the Finance Ministry are expected to be questioned by parliament’s Finance Committee about the roles they played in the collapse of the banks.
In August 2017, UT Bank and Capital Bank went under, and all their assets and liabilities were taken over by state-owned GCB Bank.
A year later, Consolidated Bank Ghana (CBG) Limited was formed after the central bank fused the Sovereign Bank, The Construction Bank, The Beige Bank, The Royal Bank and uniBank together after they all ran into liquidity problems.
Chairman of the Finance Committee, Dr Mark Assibey Yeboah, had told Class News earlier that the committee will meet first with PricewaterhouseCoopers and then with KPMG and then the new Consolidated Bank officials.
On Friday, the committee will meet other regulators like the Security and Exchanges Commission and the National Insurance Commission.
Dr Assibey noted that: “We have to get firsthand information, we cannot rely on media commentaries to make informed opinions, so, we’re meeting with the institutions.”
Source: classfmonline.com
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Parliament of Ghana has always been a "Rubber Stamp" so what's Bra Adongo's problem? This is interesting.
Adongo was in a film acting mood yesterday. He staged managed his walk out from the finance committee meeting and virtually walked to the press to complete his planned drama. This has truly exposed his emptiness. Other NDC members of the committee stayed and I believe they would deal with issues as they come up before the committee. This is definetely the way to go. When you ran away from the committee, where do you think you will get your answers from, Mr Adongo?
Does Adongo think he's more sensible than all the committee members? He's no value to sit in the committee with this shallow mind so he can go to HELL! This is some of the people who were taking decisions for the country hence Ghana is like this after 16 years of ndc reign. ndc members have NO moral right to against BoG decision to consolidate all the seven Banks after them (ndc) creating the MESS. NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU, NDC YAAMUTU
The one and only adongo ,adongo de ka ,the future ndc finance minister
I just hate to hear that name Adongo, simple no comments !
This guy is too noisy. He is also not making ant sense at all. Unnecessary loud mouth. A typical empty barrel Parliamentarian who came to Parliament through the ignorance of my people in the North. If your own Parliament is rubber stamp Parliament who cares. Being a Parliamentarian does not guarantee you extra wisdom to let everybody accept your position. You guys messed up the economy of this country with little minds and don't also stop wasting our time.Fooollll
Me I believe this Parliamentary probe is much ado about nothing. Of what use has become of parliamentary probes in the country since the inception of the Fourth Republic?
This Adongo guy is an empty barrel who is making the most noise........ he thought the other ndc guys on the committee will follow him.....
If not for public showmanship why do you leave the committee? Isn't it better to sit on it and demand all those documents and reports you are alluding to?. It appears to discerning minds that you are running away from prejudicial comments made on the issues even before the committee sat. If you have Ghana at heart and not partisan you would have remained on the committee and demand the reports n and documents
You are only running away because of the ir-res-ponsible statements you have already made in the public space. Parliament has so much power to demand any documents it deems relevant to its work, be it probe or whatever. So if you have not been furnished with some documents that you think may be relevant to the probe, why not sit in the meeting and ask whichever entity or person that has it to produce it? Why walk out? This stu--pid aluta attitude of this minority must stop. It is becoming too irritating.