March 15, 2018

Ranking Member on Finance, Ato Forson, has given indications that he will personally drag the Minister of Finance Ken Ofori Atta and the Governor of Bank of Ghana (BoG) Dr. Ernest Kwamina Yedu Addison to the Supreme Court.

According to the former Deputy Finance Minister, if the two fail to respond to his letter by providing technical details relating to the takeover of UT and Capital Bank by the Ghana Commercial Bank, he will have to resort to the court.

The Ranking member of Finance last week wrote to the Governor of the Bank of Ghana and the Finance Minister requesting some technical information on the takeover of the two banks.

He said in an interview with he has not received any response from either of them.

“I run into both the Finance Minister and Governor over the weekend, the Finance Minister indicated that the legal team of the Ministry is going through the letter and will respond to my letter, whiles the Governor said he will also respond”.

He further indicated that often times issues are raise through press conference and a political twist is added to it and the issue dies down, but this time around he has decided to write to the governor and the Finance Minister.

“We are asking for clarity in the provision of certain information that we deemed outstanding, relating to the two banks that were liquidated of which the central bank signed and purchased an assumption transaction with GCB. As we speak, the public does not know anything about it. We have read from an IMF document that says that the government of Ghana represented by the Ministry of Finance is going to arrange some bond issuance, about one percent of GDP which is about 1.6 to 2 billion cedis to defray the cost relating to the collapse of the two banks.”

By: Kwaku Sakyi-Danso/