Collapse of uniBank and GN Bank were wrong decisions - Kweku Baako

Collapse of uniBank and GN Bank were wrong decisions - Kweku Baako

- Popular Ghanaian journalist, Kweku Baako, has condemned the collapse of local banks in Ghana

- According to him, it was not right for the Bank of Ghana to close Heritage Bank, GN Bank, and uniBank

- Baako added that he was hopeful Seidu Adongo, the owner of Heritage Bank, would do great things

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Veteran Ghanaian journalist, Abdul-Malik Kweku Baako has faulted the Bank of Ghana (BoG) for collapsing three Ghanaian banks.

In his opinion, the collapse of uniBank, GN Bank, and Heritage Bank was not right.

According to him, it is unfortunate the banks are no more.

Collapse of uniBank and GN Bank were wrong decisions - Kweku Baako

Kweku Baako Source: adomonline.com
Source: UGC

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Until their collapse, uniBank, which was later integrated into the Consolidated Bank, was owned by former finance minister, Kwabena Duffuor.

GN Bank was part of Groupe Nduom and was owned by Paa Kwesi Nduom.

And Heritage Bank was owned by Seidu Adongo who Baako describes as a young man he hoped would do great things.

Per a report by classfmonline.com, he noted that Adongo is “a young man and I appreciated him and I want to see a young man like him who does great things; It was painful his bank went down.”

YEN.com.gh earlier reported that Danquah Institute, a policy think-tank, has responded to claims of them playing a role in the collapse of banks in Ghana.

They explained that they had no hand in the collapse of banks owned by Kwabena Duffuor or Paa Kwesi Nduom.

Until the collapse of their banks, the two men owned uniBank Ghana Limited and GN Bank.

Meanwhile, the founder of Perez Chapel International, Bishop Charles Agyinasare, is also reported to have wondered if the two locally-owned banks, in addition to UT Bank, could have been salvaged by the Central Bank during its financial sector cleanup exercise.

In his virtual sermon on Sunday, July 19, 2020, which was themed: ‘Getting rid of envy’, Bishop Agyinasare said: "the same 'demons' that possessed politicians in the days of old to collapse local businesses were still lingering and wreaking havoc."

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Source: Yen

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