Member of Parliament for Bolgatanga Central, Isaac Adongo, has disclosed that the Attorney General advised the government against the revocation of the license of defunct bank, uniBank.
This, according to the Bolga Central lawmaker, was explicitly cited in the AG’s legal opinion to the finance Minister, Ken Ofori-Atta and the Bank of Ghana(BoG), over the take-over of the bank.
“The Attorney General’s legal opinion says that unibank license was improperly revoked, the exercise was illegal, and technically it means that he can’t even defend the state, if we’re in court.
“And this is the legal opinion of the Attorney General,” Adongo revealed on Metro TV’s Good Evening Ghana with Paul Adom Otchere Tuesday.
Click a copy of the AG’s legal opinion
Background
On 1st August 2018, the Bank of Ghana in a national broadcast shocked the country, including shareholders, by revoking the license of the biggest indigenous bank in the nation, uniBank Ghana Limited.
Two days later, the shareholders of uniBank wrote to the Bank of Ghana, requesting a copy of the KPMG report that informed the decision to revoke their license.
Unfortunately, the Bank of Ghana in a letter dated 13th August, 2018 declined the request for the release of the report to the shareholders which led to the shareholders heading to court to seek redress against the Bank of Ghana for what they perceive to be the wrongful revocation of the license of their bank. Since the suit, there has been no direct communication among the parties, except representations in court.
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