Former Head of Economic Intelligence Unit, Dr. Assibi Abudu has said that the Bank of Ghana (BoG) should shoulder the blame for the recent collapse of banks in the country.
According to Dr. Assibi, the BoG should accept responsibility for the poor banking sector in the country because they are mandated and backed by the law to put the banks in check.
“Blame the Bank of Ghana for the poor banking sector and the collapse of the banks in the country, because as a mandate institution, they have failed to keep these banks in check,” he told Kwame Afrifa-Mensah on Happy FM‘s ‘Epa Hoa Daben‘.
He added that, some workers of the Central Bank are not living up to expectations as they are being paid to do so.
“Some group of people at BoG did not do their work well and they are being paid with the tax payers money every month.”
“The security agencies must gather all the needed evidence to persecute all the individuals involved in this problem in the banking sector,” he opined.
“The services of other intelligence agencies in the UK can be deployed because they are neutral and professional. I’m not saying our agencies here are not professional, they are but they are sometimes politically motivated which hinder them from doing their work professionally.”
He revealed that working at the bank of Ghana as a Chief Economist, he lost his job because he did not heed to political command but wanted to do the right thing.
“I lost my job whiles working at the Bank of Ghana because I wanted to do the right.”
On August 1, 2018, the BoG consolidated five local banks; Beige Bank, Construction Bank, Royal Bank, uniBank and Sovereign bank into what it calls the Consolidated Bank Ghana Limited.
According to the Governor of the Bank of Ghana, Dr. Ernest Addison, some of the banks obtained their licenses through false means by presenting documents that painted a picture as though they could meet the new capital requirement.
In 2017 also, the central bank revoked the licenses of UT and Capital Banks because the liabilities of the two banks overwhelmed their assets.
By: Joseph Nii Ankrah