Minister of Finance, Ken Ofori-Atta says the Government of Ghana has no regrets over the collapse of some financial institutions in the country.

Following a move by the Central Bank and the Securities and Exchange Commission (SEC), fifty-three (53) fund management companies and over twenty banks, as well as Savings and Loans companies, had their licences revoked over issues of financial mismanagement and unfair treatment of their customers.

Banks like the uniBank, GN Bank, Heritage Bank, Sovereign Bank Limited and Capital Bank among others were taken over by the Central Bank.

Five of the insolvent banks namely The Royal Bank, Beige Bank, Sovereign Bank Limited, Construction Bank and Unibank were amalgamated into a Consolidated Bank Ghana which is chiefly owned by the State.

Speaking in an interview with host Kwami Sefa Kayi on Peace FM's 'Kokrokoo', Hon. Ofori-Atta sent no apologies to the collapsed banks.

According to him, he believes in the banking reforms by the financial authorities resulting in the revocation of the licences of the banks.

Responding to accusations of wrongdoing on the part of the government regarding the banks, the Finance Minister said he doesn't expect every Ghanaian or opposition political party members to like him or the government for doing the right thing.

Source: peace FM