Good Evening Ghana’s host Paul Adom Otchere has expressed his outrage at the Bank of Ghana’s refusal to take responsibility for the revocation of licenses of the five banks, now under the Consolidated Banks of Ghana.
Assuming that that would have been the BoG governor’s early statement at the press conference held to address the issue, Mr Adom Otchere took to Joy News’ Newsfile to breathe his disappointment at the BoG.
He insisted that “the governor and his people at this stage should come out and apologise for what has happened.”
Alas, that has not been the case as the Central Bank has only shifted blame on to the affected banks, claiming that, “the licenses were acquired under false pretences,’ according to Mr Otchere Darko.
He directly accused the Bank of Ghana of being “derelict in your [BoG’s] duty” because of how the licenses were given out to these banks under ceremonies, one of which was attended by Dr Addison himself. “Then you took pictures with them when they were inaugurating Construction bank and brought the whole government machinery there,” he said, implying that the Bank of Ghana had to know if the documentation submitted could have been forged.
He read the law that mandated the Bank of Ghana to have gone about licensing the right way: Section 4 of the law says that Bank of Ghana may for the purpose of verifying the particulars submitted under section 2, which is to collect a license, a. Interview a promoter, a proposed director or key management personnel in the course of the verification and inspect the books, records and premises intended for the use of the bank or specialized deposits-taking institution. The Bank of Ghana may require that information supplied to the Bank be verified, certified, or otherwise authenticated in the manner that the bank may prescribe.
Per this, the current situation can only be blamed on the Central Bank for its negligence of its duties and for this negligence, an apology to everyone involved is absolutely necessary. “To apologise to the people of Ghana, having been given a responsibility upon an elevated Act 930. And then you come and tell us that they collected licenses by false pretences,” he quizzed.
He proceeded with more constitutional mandates that were clearly not followed because of the situation the affected banks find themselves in right now.
“b.The feasibility report submitted by the applicant under section 7 is based on sound analysis under reasonable assumptions. That the proposed directors and key management personnel of the applicant are fit and proper persons. c. the significant shareholders are suitable and the ownership structure of the proposed bank or specialized deposit-taking institution will not hinder effective supervision, including supervision on a consolidated basis. But the paid up capital of the applicant is adequate and the original source of the capital are acceptable and does not include borrowed funds.”
He fumed that the governor of the BoG deserved no accolades whatsoever for the revocation of the licenses that have been the doom of the banks involved.
Source: Ghanaweb.com
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I watched that saturdays discussion on news file and i think you were too mechanical on the issue about BOG and the banks. You should put things in perspective.
Apology! Interesting was this guy residing on a different planet after all the mess now been shared on social medial thanks to technology.
This Adom Okyere guy is an NDC mole..... Why was he attacking the BOG governor? Paul was secretly sponsored by the NDC when he wanted to stand for SRC presidency at Legon but lost.... He is too arrogant. I never liked his posture on Newsfile last Saturday attacking the BOG governor.
It was really refreshing to hear Elsie educate Mr. Adom on Saturday. Paul's arrogance is nauseating and to think that a whole bank of Ghana can do such a transaction without recourse to their legal team didn't make sense. Is Paul an investment lawyer? why was he posturing as such? The current media fraternity in Ghana is incredibly shallow and is being led by half educated nonentities parading as experts, who cant even spend the time to read. In times like this we miss giants like Komlar Dumor.
@yaw -massa try and be in your lane ; the issues raised by Paul and Samsom Ayine are legitimate issue of collusion and serious corruption and criminal minded teamsters to wreck the banking syste in Ghana because there are certain people in the in the banking system who know how the banking system works and kow the no government will allow the banking system to fail because of the customers ; educated individuals take advatage of this to use the banks to borrow large monies to build houses ;businesses ot trafer the borrowed cash abroad for business and collude not to pay ; it is a big mafia racket !!!!!!; most of the directors and shareholders turn roud to use their positions to influence the Bank of GHana to look the other way and therefore the system is allowed to rot ; it is a network of frineds and family conectios and cotacts who gang up to wreck the system ; if people like Paul and Samson don't rise up because they know what is happening ; who will rise up and epose these fraudesters ?
Apologise for what? If you have used false pretenses to deceive BoG in order to receive the license to operate as a Bank and you have been caught, na who cause am?
Paul doing his pay masters' job. And Samson to is behind the contracting. Those Governors and the Banks have collaborated to run this country down and all that Kwasi Twum could do is to give his platform for these guys (Paul and Samsom) to come and do their pay masters' job.
Speak to BoG as entity and don't attach the Governor as person.Adom you spoke on News file as if u are rivals Why?
Massa; the issue at stake has everything to do with NPP and NDC political demons who run Ghana today ; simply the rules and regulations were never applied by officers at BOG because the Bank of Ghana has never being an independent body ; it is political run organisation controlled by a mafia of fraudulent political fraudesters and theffs ; the Officer at the Bank are not fit for purpose ; they cannot do fookoooo !!!!!!!because their hands are tied by the political mafia in the banking system with the objective to use the banking to system to defraud Ghanaians and like amissah -arthur a hypocrate and a thieef who sopent time in the banking syste ; he saw nothing and did nothing ; our problems in Ghana ghana today have been caused by the ineffective operatios of of the Central Bank ; it is a racket and Paul Darko is right the blame should put squarely on these so called uless Bank;don't forget that it was these Bankers that nearly collaspsed the monetary system by giving out reckless loans and Obama had to step in to save the banking system; MONEY IS tHe rOOT OF ALL EVIL AND BANKERS ARE PURVEYORS OF THIS EVIL !!!!!!!
Paul why are you not asking the banks to apologize to Ghanaians for not being truthful to them. Dubious processes and transactions is what has landed the banks where they are now.