About two years ago, the Bank of Ghana financial autogpsy report catalogued various roles of some players in banking industry which eventually led to the collapse of some banks. We were told about GHC14 billion of the taxpayers’ money was spent to save these banks but actions and inactions of these players in the financial sector contributed largely to the closure.
Months after the closure of these banks, the owners had been mute as though they were not living in this country. Even those who mounted defence to tell their side of the story did so without touching on the main substance of the central bank’s report.
We, therefore, find it very sickening to hear and watch personalities who allegedly caused the collapse of the banks, putting monies of depositors at risk, now talking nonsense on TV, radio and other media platforms. These same individuals have now found their voices and parading themselves as having unparalleled integrity and presenting themselves as gems.
After Government spending billions of cedis of taxpayers monies to safeguard funds of depositors, the real “culprits” who caused the collapse of the banks due to bad corporate governance, greediness, selfishness and conflict of interest are walking freely with the audacity to grant interviews aimed at playing innocent and blaming Government. God save this country!
So we ask why were these “financial experts” mute when their “well managed” banks were being close down and merged? They knew what they have done!
CVM appreciate the Government efforts to make sure that sanity prevail in the financial sector. We also appreciate that some legal works have been done on these banking issues. But we boldly hold the view that they are woefully inadequate.
We, therefore, blame the Attorney-General and Minister of Justice who has failed to rise to the occasion to prosecute these banking “criminals” quickly. The Bank of Ghana and Ministry of Finance are equally to share the blame for the lack of urgency on their part to deal with these “criminals” in accordance with the law.
We ask how would Government justify its position when those labelled criminals are not facing speedy prosecution today?
Mr. Alfred Agbesi Woyome was prosecuted and his assets were confiscated and sold to defray a nearly five-year-old debt to the state. His was GHC51 million which was a major political campaign issue. The banking rot is costing the nation GHC14 billion and we are doing nothing about it?
CVM believe that the inability of Attorney-General and Ministry of Justice, Ministry of Finance and Bank of Ghana to deliver on such sensitive issues could create very serious threat to the electoral fortunes for President Akufo-Addo and the New Patriotic Party come 2020. Act now!
The taxpayers need their GHC 14 billion back for socio-economic development.
Razak Kojo Opoku
(CVM Founder and President)