Prince Kofi Amoabeng, the former CEO of the defunct UT Bank, has criticised the involvement of Databank, a bank co-founded by the Finance Minister, in the issuance of government bonds.

According to him, it is ethically wrong for Databank to be in such a position due to the conflict of interest the entity finds itself.

It has been widely reported that Databank and Black Star Brokerage have been acting as Bond Market Specialists for government bond issuance.

These two institutions are linked to the Finance Minister, Ken Ofoi-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen respectively.

Reacting to this in a TV3 interview on Monday, Amoabeng wondered if the directors of Databank can sleep soundly after benefiting from the government bonds issuance.

He noted that: “I think it is ethically wrong, certain things you don’t do, just because there is a conflict of interest.

“As it is been reported that Databank and Black Stars have brokerage firms that are benefitting, really? If they can sleep in the night then they are tough people.”