Former National Organizer of the National Democratic Congress (NDC) Yaw Boateng Gyan has implicitly accused the Bank of Ghana (BOG) of neglecting its responsibilities leading to Unibank Ghana Ltd, an indigenous private bank becoming "technically insolvent".
BOG on Tuesday, March 20, 2018, announced that it has taken over the management of UniBank, by appointing an official administrator, KPMG, an audit firm to run the indigenous bank.
The announcement has shocked many since UNIBANK had won numerous awards for performing successfully in the industry a few years ago, and even recently, reports emerged that it (UniBank) was taking over the management of the Agricultural Development Bank (ADB).
Explaining the reason behind the takeover, the Second Deputy Governor of the BOG, Mrs. Elsie Addo Awadzi in an interview with Kwami Sefa Kayi on Peace FM's Kokrokoo on Wednesday, said the 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.
But Yaw Boateng-Gyan, who is aspiring to be the National Organizer believes there might be some underhand dealings resulting in the BoG decision.
According to him, there is more to the issue than meets the eye because he doesn't understand why Unibank is said to have serious financial problems but the bank was sweeping away awards.
He asked why the BOG didn't step in to deny Unibank from amassing the awards if they knew the bank was underperforming in the financial sector. He strongly held that the central bank cannot absolve itself from blame since it has not been proactive in their policy and supervisory functions in the financial sector in particular, and the economy in general.
“If UNIBANK was underperforming and the management not up to task, what therefore was the basis for which the bank was honoured for Ghanaians to accept that this bank is in good shape?…What criteria did they use to determine that Unibank is strong and deserved such numerous awards? That’s my problem. Does it mean we knew some things were being done under the cloak of darkness but decided to just pamper them or is it that their activities then were unknown?” Mr. Boateng Gyan quizzed.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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Please and please, this platform is not for people of your level!
NPP wanted to collapse all NDC financiers to stay power for long but that will not work. Why was Unibank wanted to take over ADB ?
THE NDC IS MADE UP OF A BUNCH OF ***barred word***, INCOMPETENT, LAWLESS, RECKLESS, ARROGANT AND DISHONEST 1DIOTS. They simply dont read to understand anything. Just making noise!
Awards are given in various categories. I wish Yaw Boateng Gyan could mention the category Unibank won. If u win bank of new innovations/products, good customer relationship or competitive rates and so forth and you don't have good financial standing then you are likely to collapse. Mr Gyan should have checked the bank's audited finacial statements from NDC time to NPP time and draw the conclusion himself. Everything is being seen by NDC as political. Do you think the shareholders and directors of these banks UT, Capital and Unibank would have just sit down without taking legal actions against BOG if they are being persecuted by the BOG
as usual coming from the NDC, a very elementary way of viewing things. was it the BoG that gave them the awards? Go and ask the organisers of the banking awards and CIMG what criteria they used. To me these awards are fake! Also, if this same BoG is able to close down Capital Bank where Otabil is board chair, and Otabil is perceived to be pro NPP, then how can you suggest that this is politically motivated? But as usual, these NDC guys are just empty!
MASSA STOP WRITING TRASH HERE WAI. YOUR BRAINS ARE SO DEAD TO THE EXTEND THAT YOU COULD NOT EVEN SEE THAT THIS PROBLEMS STARTED UNDER YOUR INCOMPETENT NDC GOV'T AND YOUR INCOMPETENT JOHN MAHAMA AND FR. GOV. OF BANK OF GHANA DR WOMPA. DO YOU KNOW HOW MUCH GOV'T HAVE PUMP INTO UNIBANK FOR THE PASS YEARS JUST TO SUSTAIN THE BANK 2.4 BILLION DOLLARS. @ALUTA YOUR PARTY INCOMPETENCE IS WHAT SENT NDC BACK INTO OPPOSITION.
COMPETENCE IS REALLY AT ITS PEAK UNDER THE RULING NPP WHERE FORMER THREE STRONG BANKS ALL WINNING AWARDS HAVE BECOME INSOLVENT WITHIN JUST FIFTEEN MONTHS IN POWER. THE LEVEL OF ECONOMIC ILLITERACY IS SO HIGH IN GHANA THAT EVEN THOSE WHO CAN NOT MANAGE THE NUCLEUS FAMILIES THINK GOVERNANCE IS WITHIN THEIR REACH. LOUD COMPETENT MOUTHS SHOUTING EVERY DAY AND YET SENDING EMPLOYABLE HANDS HOME TO GNASH THEIR TEETH WITH THEIR SUFFERING KIDS (CHILDREN)AND YET THE NPP IS REFUSING TO ACCEPT THEIR INCOMPETENCE BUT RATHER REFERRING THEIR INCOMPETENCE TO THEIR EX-WIVE (NDC). SIT UP OR BETTER STILL STAND UP AND DON'T LIE DOWN THERE SHOUTING I WILL BEAT YOU IF I MANAGE TO STAND UP. MOST OF THE ***barred word*** MEDIA ARE MAKING EVERYONE IN GHANA TO SUFFER AS THEY CONTINUE TO MASSAGE AND HIDE THE NPP AND NANA ADDO'S OVER INCOMPETENCE. EVEN THE ONE TIME BOLD RAWLINGS HAS BECOME LIKE A FRIGHTENED "DOG" AND CAN NO LONGER BARK NOT TO TALK OF BITING. MEN HAVE BECOME WOMEN AS THE AFRICAN IDIOMATIC EXPRESSION HOLDS. WE WAIT TO SEE.
Leaking brains.Yaw Boateng Gyan all these happened under your party's watch. It is the end product we are seeing now. Incompetence at its highest level. Very deep. Ghanaians should never make that mistake again in given power to the NDC. Any other party apart from NPP will do but not NDC. ***barred word***, incompetency name it and it is NDC. Why. This NDC house was built on sand so collapse poooooooooooooo
Popular Ghanaian boxer Braimah Kamoko, popularly known as Bukom Banku, has called on President John Mahama to fulfill an alleged promise of making him Minister for Sports. “Oh what I am telling you is the truth. John Mahama told me and promised me that if he becomes President, he would make me Sports Minister and now that he has won, I want him to make me the Minister. But he has put someone there. He has put his man Elvis Afriyie Ankrah there, so I want him to make me the deputy because I can do the work. Elvis too can do the work but John Mahama promised me so I can be deputy,” Bukom Banku told NEWS-ONE. The sensational boxer explained further that on 14th July 2012, he met the then Vice President John Mahama and during an interaction, told him that he would soon become President. “By then President Mills had not even died, but I told John Mahama that he would become President and he said okay, and that if he becomes President I would be Sports Minister. By then he even gave me some money. He gave me money and made me the promise,” Bukom Banku stated. The boxer however did not explain how he got to know that John Mahama would ‘soon’ become President at a time his party, the National Democratic Congress (NDC), had a presidential candidate who was also an incumbent President. The boxer promised that he would soon shed further light on the subject. Sometime last year, Bukom Banku shelved is much publicized parliamentary ambition for the Odidiodoo constituency, with an explanation that he did not want to contest the NDC candidate, Nii
Awards is now a big business in Ghana. The highest payer gets the award. Corruption everywhere. Don't believe those award shows.