The Bank of Ghana (BoG) Governor, Dr. Ernest Addison, wants parliament to discontinue its ongoing enquiry into the revocation of the licenses of uniBank and UT Bank.
According to the Central Bank, Parliament’s investigations will be a disservice to them since it’s already hit by several legal actions against the banking clean-up from the petitioners.
“Running to parliament to seek redress for the revocation of an institution’s licence is not one of the processes laid down under the law for those who feel aggrieved over a licence revocation by the Bank of Ghana. There are already a number of actions filed in court and at arbitration by the same persons who run to parliament for cover-up, and the Bank of Ghana’s simple response to parliament is, respectfully, to allow the pending legal processes to run their course,” Dr. Addison said at the Ghana Chamber of Commerce and Industries Business Forum.
According to him, the central bank and receivers of the collapsed financial institutions are bent on recouping the GH¢19billion of taxpayers’ money spent on settling depositors after the financial sector clean-up that saw nine banks and 411 Specialised Deposit-Taking Institutions (SDIs) go down.
However, Senior Vice President of IMANI Africa has criticized the Bank of Ghana’s (BoG) refusal to submit to Parliament’s investigations into the circumstances leading to the revocation of the licenses of uniBank and UT Bank.
“There is no law that stops parliament from holding an enquiry into anything that has happened in this country and there is no law that makes BoG above parliament…” he argued on News File recently.
Kofi Bentil in his argument posited that there is the need for a post-facto hearing that will evoke a change in the current systems that has caused the murky situation in the banking sector.
“Look we must not be eager to just destroy things, we must be eager to make sure that going forward we’re stronger than where we were.”
He added: “The end game is to understand why we went through this, how we have done it, mistakes that have been made, things that could have been done better plus a number of other things so that we have a total picture for posterity of all these issues and there is clearly a role for in that sense”
Source: Ghana/Kasapafmonline.com/102.5 Fm
