News:
March 24, 2021
A petition has been presented by Member of Parliament for Bawku Central, Mahama Ayariga on behalf of the two former Chief Executive Officers of UT/UniBank, Prince Kofi Amoabeng and Dr Kwabena Duffuor respectively for Parliament to reconsider the decision by Bank of Ghana to close down their banks
Former Minister of Finance and founder of the defunct UniBank, Dr. Kwabena Duffuor, and his counterpart for the defunct UT Bank Limited, Prince Kofi Amoabeng, whose insolvent financial institutions were taken over by the state as part of the banking sector cleanup exercise, are calling for probe into the actions of the regulators.
They have called for a major parliamentary inquiry into the conduct of the Bank of Ghana (BoG) and the Ghana Stock Exchange for the revocation of their banking licenses.
The two filed separate petitions calling on Parliament to investigate what they consider to be a disregard to the rules of administrative justice guaranteed under Article 23 of the 1992 Constitution.
They are calling for the probe when at the time their respective cases are undergoing both civil and criminal trials in court
Dr. Duffuor is therefore asking Parliament to direct the restoration of their banking licenses and the remedy of the harms done to the shareholders’ property rights in the said banks as a result of the central bank’s action.
They are seeking for Parliament to give any other directives that it may deem appropriate to BoG for its action against them.
Kwaku Sakyi-Danso/Ghanamps.com