Gov't will continue to fund BoG to clean-up banking sector - Oppong Nkrumah

Gov't will continue to fund BoG to clean-up banking sector - Oppong Nkrumah

- Information Minister, Kojo Oppong Nkrumah has rubbished certain media reports that some of the financial institutions were deliberately collapsed by the state

- He said arguments against the revocation of licenses are incoherent, as the government placed a premium on job creation

- Oppong Nkrumah however said sanitising the banking sector was a priority and that the government would continue to provide funding to the Bank of Ghana to take action in that space

Government has rubbished claims by certain media outlets that some of the financial institutions were deliberately collapsed by the state.

According to the Information Minister, Kojo Oppong Nkrumah, such arguments against the revocation of licenses are incoherent, as the government placed a premium on job creation.

Speaking at a news conference in Accra, the minister said the NPP government was bent on ensuring that people had jobs to do.

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“This is an administration that is promising jobs and incomes for people. Why would such an administration be interested in deliberately closing down people’s businesses when it knows that in the end it will have to answer for how many jobs that have been created or the net addition of jobs? ” he said.

Oppong Nkrumah said sanitising the banking sector was a priority and that the government would continue to provide funding to the Bank of Ghana to take action in that space.

“This is how to resolve these matters. This is how-to protect the deposits of over one million Ghanaians and over Ghc 12 billion that has gone in there,” he said.

The Bank of Ghana on Friday, August 16, 2019, announced the revocation of licenses of 15 insolvent savings and loans companies and eight finance houses. But the move has been criticised.

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Meanwhile, the Minister of Health, Kweku Agyemang-Manu has stated that the ministry would soon recruit nurses and midwives who completed their training in 2017 and 2018.

According to the Minister, the recruitment is part of a grand agenda by the Health Ministry to employ 53,000 nurses and midwives across the country.

Speaking at Issa, the capital of the Daffiama-Bisie-Issa of the Upper West Region during a visit by President Akufo-Addo, he explained that his outfit was seeking financial clearance from the Finance Ministry to commence the recruitment process.

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Source: Yen

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