Ghana

Bagbin sanctions probe into uniBank, UT collapse; establishes nine-member committee

Wednesday, March 31, 2021 at 9:06 AM by Priscilla Aklorbortu

- Alban Bagbin has constituted a nine-member committee to look into a petition presented to parliament

- The petitioners are calling for an investigation into the conduct of the Bank of Ghana and the Ghana Stock Exchange

- They also want the licenses that was revoked in the 2017 banking sector cleanup to be restored

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A nine-member committee has been constituted by the speaker of parliament, Alban Bagbin to look into a petition presented to parliament by two majority shareholders of uniBank and UT Bank.

The petitioners are calling for an investigation into the conduct of the Bank of Ghana and the Ghana Stock Exchange in the revocation of their licenses.

The committee will be chaired by the First Deputy Speaker and Member of Parliament (MP) for Bekwai, Joseph Osei-Owusu.

Bagbin sanctions probe into uniBank, UT collapse; establishes nine-member committee
Source: Facebook

Other members are Alexander Afenyo- Markin, Joe Ghartey, Patrick Yaw Boamah, Samuel Atta-Akyea, James Klutse Avedzi, Cassiel Ato Forson, Isaac Adongo, and Elizabeth Ofosu-Adjare.

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Prior to the constitution of the committee, Okaikoi Central MP, Patrick Boamah, said the petition will achieve no result as the House does not have the power to intervene.

The Majority Leader, Osei Kyei Mensa Bonsu, also wanted the Speaker, Alban Bagbin to reconsider the planned inquiry into the dissolution of the banks.

He made the point that the committee’s work would impair the adjudication of the two cases currently before the Supreme Court.

But Alban Bagbin in a detailed report assured that admitting and laying of the petitions will not be a contravention.

The petitioners who had the licences of their respective financial institutions revoked during the banking sector clean-up which commenced in 2017, want their licenses restored.

In other news, Finance Minister-designate Ken Ofori-Atta has revealed that since he took charge of the finance ministry in 2017, he has never for once taken his monthly salary.