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Ofori-Atta's Data Bank Now Into Gold Collectables Like Menzgold - Otokunor   
 
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11-Jan-2019  
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Deputy General Secretary of the National Democratic Congress, Peter Otokunor has hinted that government's 'poor' handling of the Menzgold saga is a deliberate attempt to give Finance Minister's investment company an undue advantage in that space.

In his assessment of the situation, the Finance Minister, Ken Ofori-Atta's quest to safeguard his business interests particularly of his investment institution, Data Bank, has significantly contributed to the actions and inactions of government.

Peter Boamah Otokunor believes it is a deliberate action to 'kill' competition against the businesses as it is part of a grand scheme by the government.

He accused the Finance Minister and government of engaging in a political game to take over the financial sector of the country.

"It is deliberate, it is conscious, it is an economic turf war. The Finance Minister has Banks, he has investment companies. He is collapsing investment companies. The issue of Menzgold has come to the fore and we think that the government, the approach they used to deal with the issue has not been the right approach because the Finance Minister is also running an investment company that is now dealing in gold collectables. So that tells you that there is an economic turf war. Somebody wants to control the economic breathing line of the country and that is problematic. You don't do that as a politician, you don't do that as a government. When you do that you crash the entire financial sector" the Deputy General Secretary detailed.

"Now Data bank is dealing in gold collectables which Menzgold was dealing in. How did they acquire their licence? Perhaps maybe when they identified that Menzgold was not having their licence, couldn't they have arranged and regularised Menzgold operations. If it is illegal or legal" he questioned insisting that government could have done more to salvage the situation.




BoG, government in a political turf war with Banks

Explaining what he meant by the Government is engaging in a political turf war in the financial sector, Peter Otokunor accused the Bank of Ghana and the Finance Minister of going after institutions that are in one way or another affiliated to an opposition political figure.

He buttressed his argument by citing the revocation of the banking license of Heritage Bank, a wholly Ghanaian bank.

In his opinion, the grounds for their closure and absorption into Consolidated Bank of Ghana isn't potent and reasonable enough to warrant such an action as the bank met the Minimum Capital Requirement of GHC400 million and developed an acceptable governing culture.

He, therefore, described as unfair the basis for the revocation of their license and noted that it speaks to the political bias of the Central Bank.

To this end, the NDC Deputy General Secretary asserted that the Central Bank was doing something wrong and improper and tasked them to focus on their core mandate.

"You don't commend the BoG because they are closing banks because they have gotten some license based on false pretence. You ask yourself, what constitutes false pretence? Now we have seen many of the banks already in court complaining that no, this is not fair and that perhaps it is political witch-hunting because perhaps some political heads are behind those banks. It is economic warfare, it is an economic turf war that is going on. It is not regulation" he emphasised.
 
 
Source: Ghanaweb.com
 
 

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COMMENTS




Name: LIARS IN NDC
These LIES & PROPAGANDA sent NDC to opposition. With these propaganda and lies, they will be in opposition for a VERY LOOOG time.
 
Name: @Mr. Green+Obi Ba
To the NDC any foul means to win political power is right. Thus, destroy your political opponent by defamation, baseless polemic, spew of lies and insults is the order of the polarized political arena of Ghana today. Informed criticism, issue-based argumentation, and competition of alteranative policy approach of solving promblems are what you can least dream of in present political arena of Ghana. In all these the Party NDC is worse off than any other political Party in Ghana.
 
Name: Mr Green
I have an account with databank in Tema since 2008 .I have not any problems what so ever .They have been buying me my shares in calbank,goil and tullow.why in the name politics you say things that you do not know. I am really surprised.This party is not good for this country
 
Name: Obi Ba
The NDC as a party is the enemy of true democracy in real terms. In that in democracy Free speech and Press freedom are key and the NDC as desperate political Party in its formation and ideology, picks on Freedom of Speach and misappropriates it by spewing lies, defamation of political opponents and hurling insults at them. It is here instructive to note that, even their Founder went to the extent of killing his opponents and those he perceived to be dangerous to his course. The Rawlings never believed in the democracy the world political and economic order of the time, end of the cold war was a boost for the democracy and forced Rawlings to give up. Hence, the Fourth Republic and its Constitution to some extent favor Rawlings and that makes him what some Ghanian prominent say 'a walking illegality'. Thus creat your opponent as an enemy and kill him. Today defame your political opponents to win political power and in a real sense is the enemy of democracy.
 
Name: JM Borborliborbor
The NDC NEVER learns! They still think ghanaians are 1diots to believe their wicked 1ies they peddled which shamefully sent them into opposition. Indeed, they seem to be doing worse than before, probably due to the daze resulting from the defeat. I love their state inertia. Let them remain in the confused, propaganda-drunk state and we'll teach them the second lesson soon. By the way, Otokunor needs some dental surgery quickly. Which woman is able to withstand this concomitant dental alakpagies? "Gbosa" to that babe!
 
Name: Kofi
Otukonor ni jimieee di3 as3 bob marley ni ntampi....jimiiiiii Fox your dentures with the stolen money you received during Ford Mahamas era
 
Name: Sena Djamesi
Please stop this propaganda and be truthful to yourself. I work with a company in the same building where Databank operate,friends there. Databank is not dealing in gold collectibles as this man want us to believe. I am disappointed in some of the Ghanaian meida.Just go to Databank with your cameras and interview the officers their operations. I now know the ignorance of this guy Otukunor, Databank is not even a commercial or retail bank to have individual customers.They deal with companies,pension institutions,shareholders,investors etc. Can somebody in Ghana come out boldly that he or she has bank account with Databank. It is an investment bank their activities and operations are different from the retail banks. Do decent politics and God will bless you to live long.
 
Name: Awal Ahmed
Otukunor 'sebonkatei you think your NDC propaganda will work.Find something to do your life.
 
Name: Kwaku
Lion, You actually like cheap NPP and NDC boys. If you don’t you would have been truthful on your comment.
 
Name: NDC LIARS
NDC and LIES and PROPAGANDA! Go on, you will see your SMOOTHLESS LEVEL! % is waiting for you in 2020
 



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