BoG, Bawumia, Ofori-Atta killing banks with 'slow poison' – NDC MP

BoG, Bawumia, Ofori-Atta killing banks with 'slow poison' – NDC MP

- The NDC MP is accusing BoG boss, Dr Ernest Addison of collapsing five local banks

- Mr Isaac Adongo believes Dr Bawumia and Ken Ofori-Atta have played key role in collapsing of the 5 banks

The National Democratic Congress (NDC), Member of Parliament for Bolgatanga Central constituency, Isaac Adongo has accused Vice-President Dr Mahamudu Bawumia and Finance Minister, Ken Ofori-Atta for collapsing private local banks.

According to the NDC MP, the Governor of the Central Bank, Dr Ernest Addison under the orders of the two politicians is administering “slow poison” to some local banks they see as rivals to Mr Ofori-Atta’s Databank.

BoG, Bawumia, Ofori-Atta killing banks with 'slow poison' – NDC MP

NDC MP, Isaac Adongo (Photo credit: Starrfmonline.com)

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Isaac Adongo, who is also a member of parliament’s Finance Committee, made the comment on Class FM on Wednesday, following the announcement by the Bank of Ghana that it had merged five local banks into a Consolidated Bank.

Governor Dr Ernest Addison said the merger of The Royal Bank, BEIGE Bank, Sovereign Bank, Construction Bank and uniBank, was part of moves to streamline the financial sector.

Dr Addison said government is dedicating a GHS450 million as minimum capital for the new bank.

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However, the Bolgatanga MP has described the move as an “administration in disguise”.

To him, the Bank of Ghana, just as the Akufo-Addo government has been very dishonest with the people of Ghana.

The Bank of Ghana in an exercise to protect customer deposits and investments has order five local banks, namely the Royal Bank, Beige Bank, Construction Bank, Sovereign Bank and UniBank to merge in order to raise minimum capital requirement.

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