The Bank of Ghana (BoG) has denied claims that the Unibank takeover was politically motivated.
BoG on Tuesday March 20, 2018, announced that it has taken over the management of uniBank, by appointing an administrator, KPMG, an audit firm to run the indigenous bank.
This announcement came as a surprise especially as few weeks ago, reports emerged that uniBank was taking over the management of the Agricultural Development Bank (ADB).
The BoG at the time, dismissed the reports explaining that it had not approved any such agreement.
The Unibank/KPMG takeover has been described by some as politically motivated because of an agenda allegedly being set by the Finance Minister Ken Ofori-Atta.
Minority Spokesperson on Finance, Casiel Ato Forson says government must take responsibility for the collapse of Unibank. He said it is unacceptable that within a period of eight months three locally owned banks had collapsed.
However Second Deputy Governor of the BoG, Mrs Elsie Addo Awadzi debunked the allegation that the takeover was politically motivated.
According to her, "Unibank have been on life support for a very long time" and that "we gave them enough opportunities to redeem themselves and even though they tried, it was not enough".
Speaking in an interview with Kwami Sefa-Kayi on Peace FM's Kokrokoo programme, Wednesday, Madam Awadzi, said BoG took the decision to save Unibank from imminent collapse.
"It is not true government and Bank of Ghana is intentionally collapsing the banking sector. There are rules and regulations to follow in the banking sector and when you abide by them, your bank will not collapse but if you don’t, then you will have problems no matter how many times we help" she added.
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