10.9 C
Wednesday, March 29, 2023
HomeHeadlineAkufo-Addo, Finance Minister, fronting for a prestigious foreign bank - Former NDC...

Akufo-Addo, Finance Minister, fronting for a prestigious foreign bank – Former NDC MP


Related stories

What you need to succeed in life is not money but right mindset – Oscar Bimpong

Managing director of the Train2inspire Consultancy, Oscar Bimpong, has...

Kenyan lawmaker Kulow Maalim dead

A Kenyan legislator, Kullow Maalim Hassan, has passed away...

School Principal gives her life to protect pupils

Per the reports, the principal of a Christian elementary...

Wontumi’s wives jointly performed funeral rite for their mother-in-law

Wives of Mr. Bernard Antwi Bosiako, popularly known as...

Murtala Mohammed Ibrahim, a former NDC MP for Nanton Constituency has accused President Akufo-Addo and the Finance Minister, Ken Ofori-Atta of orchestrating the collapse of five (5) indigenous banks to pave way for an international financial institution to operate in the country.

According to him, the collapse of the 5 banks is a ploy to bring in a highly prestigious and a leading global financial services firm and one of the largest banking institutions in the United States.

Read: Collapsed banks: Parliament in-camera hearing ‘needless waste of time’ – CDD

The banking sector has been faced with the collapse of some indigenous banks in the country.

The resultant bank is called Consolidated Bank Ghana Limited. 

The Bank of Ghana, a couple of weeks ago, declared five banks —Unibank, Sovereign Bank, The Construction Bank, BEIGE Bank and The Royal Bank— insolvent and revoked their licences then merged them into what it has been christened the Consolidated Bank Ghana Limited.

Read: BoG plans to prosecute executives of failed banks

The news comes barely a year after it revoked the licences of the UT and other banks which were also indigenously owned.

The BoG said some of those banks were significantly undercapitalised and beyond rehabilitation, while others supposedly obtained their licences under false pretences.

Read: How BoG’s weak supervision resulted in Capital, UT Banks’ collapse

Murtala, a former Deputy Trades and Industry Minister in the erstwhile Mahama-led NDC government, who was speaking on the banking crises in the country during a panel discussion on Radio Gold’s Alhaji and Alhaji, Saturday, said the collapse of these numerous banks is just “a ploy by the BoG governor (Dr. Addison), finance minister and the President to bring in an American bank called Morgan JP & Chase (JPMorgan Chase & Co)”.

Source: peacefmonline.com


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories