Former National Organizer of the National Democratic Congress (NDC) Yaw Boateng Gyan has implicitly accused the Bank of Ghana (BOG) of neglecting its responsibilities leading to Unibank Ghana Ltd, an indigenous private bank becoming "technically insolvent".
BOG on Tuesday, March 20, 2018, announced that it has taken over the management of UniBank, by appointing an official administrator, KPMG, an audit firm to run the indigenous bank.
The announcement has shocked many since UNIBANK had won numerous awards for performing successfully in the industry a few years ago, and even recently, reports emerged that it (UniBank) was taking over the management of the Agricultural Development Bank (ADB).
Explaining the reason behind the takeover, the Second Deputy Governor of the BOG, Mrs. Elsie Addo Awadzi in an interview with Kwami Sefa Kayi on Peace FM's Kokrokoo on Wednesday, said the BOG took the decision to save Unibank from "imminent collapse".
"It is not true government and Bank of Ghana is intentionally collapsing the banking sector. There are rules and regulations to follow in the banking sector and when you abide by them, your bank will not collapse but if you don’t, then you will have problems no matter how many times we help," she added.
But Yaw Boateng-Gyan, who is aspiring to be the National Organizer believes there might be some underhand dealings resulting in the BoG decision.
According to him, there is more to the issue than meets the eye because he doesn't understand why Unibank is said to have serious financial problems but the bank was sweeping away awards.
He asked why the BOG didn't step in to deny Unibank from amassing the awards if they knew the bank was underperforming in the financial sector. He strongly held that the central bank cannot absolve itself from blame since it has not been proactive in their policy and supervisory functions in the financial sector in particular, and the economy in general.
“If UNIBANK was underperforming and the management not up to task, what therefore was the basis for which the bank was honoured for Ghanaians to accept that this bank is in good shape?…What criteria did they use to determine that Unibank is strong and deserved such numerous awards? That’s my problem. Does it mean we knew some things were being done under the cloak of darkness but decided to just pamper them or is it that their activities then were unknown?” Mr. Boateng Gyan quizzed.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
What does an award like good customer service relate to their financial standing as a bank Yaw Boateng your argument is neither here or there.
Ndcfuo de3 omoagyimie papa! Ask again if those awards were given by the BOG? And what were they doing when they were in power to help that bank? Nkwas*afuo like that were ruling our country, where did we go wrong, and what sin did we Ghanaians commit to deserve these people ruling our nation? All they think is winning election but the brains and wisdom to rule a nation has eluded them. The Kwesi Botchway's report has advised them to find kritical thinkers and instead of paying heed to that, they are still showing their ignor*nce and arrogance and know it all, but don't know nothing,making their party more unattractive. When they hear people complaining they think, that is in their favour but don't know Ghanaians hate them and the bad of the NPP doesn't mean ndc should come, nobody in Ghana has made ndc an option to substitute the NPP, we prefer NPP being in power and rectifying their wrongs than changing government and bringing ndc enemies of Ghana to destroy the country. My prayer is for the CPP fraternity to unite and form a formidable party to replace ndc. Ndc is not good for Ghana, the founder has even regretted he formed that party.
Were the awards given by the BOG? Kwasiasem ara kwa!!!