September 11, 2018
The Minority leader, Haruna Iddrisu has challenged government to provide a firm assurance to the Nation that the interest of Ghanaian workers affected by the collapse of seven local Banks would be protected.

The Tamale South Member of Parliament expressed concern about the loss of jobs and whether these collapsed banks have capacity to pay severance awards to affected persons and wondered why the state could not intervene to save the Banks as it is done elsewhere.

“what happens to the children and wards of affected persons as school reopens, what is it that the government of Ghana can do to find new life to those institutions as possible, don’t forget that the US did it when they had the financial crisis, the state came in, let’s see when the state of Ghana will come in, I generally do not think that we have handled this matter properly” he added.

The Finance Committee of Parliament ended a three-day in-camera hearing into the banking crisis where it met with the Bank of Ghana, Ministry of Finance, KPMG, PwC and Consolidated Bank Ghana Limited, the National Insurance Commission and the Securities and Exchange Commission.

According to Chairman of the Committee, a comprehensive report on the facts gathered would be presented to plenary.

The Committee is likely to invite other stakeholders especially the founders, board of Directors and shareholders of the defunct Banks for their version of the facts.

The BoG On August 1st, 2018 announced the revocation of the licences of five indigenous banks including Unibank, Sovereign, Construction, Beige and Royal Banks for various offences.

It subsequently transferred all deposits, selected assets and liabilities of those banks to a newly-created entity: Consolidated Bank Ghana Limited.

By Christian Kpesese/