A former vice-president of the Public Interest and Accountability Committee (PIAC) and private legal practitioner, Kwame Jantuah, has criticised President Nana Akufo-Addo and Finance Minister Ken Ofori-Atta for their silence on the rot that led to the collapse of some local banks in Ghana.
According to Mr Jantuah, the collapse of local banks has the potential to distabilise the economy, yet officialdom is not assuring the public of confidence in the financial sector.
Consolidated Bank Ghana Limited was recently formed by the Bank of Ghana (BoG) when it fused together five struggling local banks, including The Beige Bank, Sovereign Bank, The RoyaL Bank, uniBank and The Construction Bank.
Prior to this, Capital Bank and UT Bank had been taken over by the central bank. The central bank has given all banks up to the end of 2018 to meet the new minimum capital requirement of GHS400 million.
Mr Jantuah, who was a guest on Class91.3FM’s Executive Breakfast Show on Thursday, 9 August 2018, told sit-in host Benjamin Akakpo that: “It is not only a Bank of Ghana thing; I expect those institutions that need to talk, to talk. The same way the president came to make a statement about the Americans coming here to set up an army base, I expect him to make a statement to address Ghanaians because the financial hub of the economy is based on Finance.
“If this is happening, he has the responsibility to say something. I was even expecting the Minister of Finance to say something. Have we heard any of them talking, no! Why? Maybe they don’t care because I can’t understand it? The ordinary Ghanaian putting his money in a bank and those who have a responsibility who have been voted into power are quiet? I don’t understand it,” he stated.
Mr Jantuah is of the view that investor confidence has been adversely affected, adding that everything must be done to ensure high confidence in the banking system.
“If the confidence is not high, the Makola woman will keep her money under her bed,” he said.
He was concerned that “the ordinary Ghanaian is the one who suffers” at the end of the day because it is taxpayers’ money that is used to support the banks.
Source: classfmonline.com
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Rank ***barred word***!!! These ***barred word*** in Ghana think the president has to comment on everything happening in the country. The Governor of BoG has spoken and very clearly on how his team is handling the rot in the banking system and the path forward. So, what else is this ***barred word*** wants. The president and minister of finance have nothing else to say. The reason why we are at this mess is there were interventions by people in higher places intervening on behalf people with criminal intent. BoG is constitutionally mandated to supervise, control and audit all the financial institutions in the Ghana and it's so far doing a great job.
Awurade NYANKOPONG Jantuah finds his voice only when the NPP is in power he goes quite as an NGO and neutral when NDC is in power, Anokwa if the President or finance minister had spoken this same lunatic as a lawyer would have said ahh he is interfering. Please peacefmonline go for better stories and spare us from this lunatic weasel.
See another !diot. Mr Jantuah we want to see you on the ballot paper during 2020 election. n0ns3nse!! What must the president say?? He appointed a working BOG governor who is actually working and not sleeping. I am surprised Ghanaians are calling on the president to also speak. Why are they not calling on the former president and the previous BOG guys to rather speak. Is it because the new BOG team are being nice about to the previous about this whole saga? I thought we will rather be thanking God for the change that the wise people of Ghana voted for otherwise all this would have continued to slowly crush the whole economy. Open yours eyes guys and spare us your hatred for the one fixing the issues. We Ghana people like talking too much and the ***barred word*** radio and TV stations who have nothing to use their air-time for are also fueling oseless sensationalism.
buddy you have made yourself as someone who should be heard. what should they come and say. when they say something wahala, why are they interfering with the structures, when they don't say nawaa, they have kept mute over it. omu eye den? wogyafo tefamu wo ho wai na ma yen aso enko adidi.
pls what do you want him to do ah. lets leave state institutions to do their work. nana should say what ah must he speak about everything. oh too much talk
their gyimigyimi faces...tweaaaaa Ghana daben? moron as a finance minister? HOWWWW
THIE-VES OF THE SAME COLOURS MOVE TOGETHER. LOOK AT THEIR FACES.