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UniBank Takeover: BoG Being Used – Minority

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The minority in Parliament believes finance minister Ken Ofori Atta is using the Central Bank to destroy businesses purportedly linked to the opposition National Democratic Congress (NDC).

Speaking on Starr Today, Tuesday, March 20, 2018, the NDC MP for Bolga Central Isaac Adongo described the directive from the Bank of Ghana for audit firm KPMG to take over the management of uniBank as an orchestrated effort spearheaded by Mr. Ofori Atta.

According to the Governor of the Central Bank, Dr. Ernest Addison, uniBank’s Capital Requirement Ration (CAR) had fallen below 50 percent, less than the 10 percent minimum level hence the action which will span over a period of six months.

Mr. Adongo admonished the Central Bank to watch against being used as a political tool to destroy the financial sector.

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“Clearly by this announcement alone without any liquidity being pump into uniBank you’re encouraging customers of uniBank to run in on the bank,” the lawmaker noted.

He added: “The motive is to bring uniBank on its knees so that owners of uniBank who are perceived to be NDC will lose their business and Ken Ofori-Atta will be the one happier for it.”

Mr. Adongo called on the New Patriotic Party (NPP) administration to protect private businesses else they “will fight it.”

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“We can’t allow private businesses to collapse in this country under the altar of political expediency. This orchestrated effort to destroy any business of any man who is related to NDC will have to stop.

“We’ll fight it as much as we can because we can’t tolerate this kind of intransigence and the BoG cannot be the hatch man doing this job for the Minister of Finance and for the government.

“You can’t tell me there is anybody at KPMG who knows how to manage a bank better than a former governor of the Central Bank… who are KPMG, for goodness sake they are just chartered accountants. This can’t happen and we must fight it to the end,” Mr. Adongo stressed.

Source: Starrfmonline.com