Banking Crisis Started Under Ex-President Mahama — Kennedy Agyapong

Kennedy Ohene Agyapong has revealed that the banking crisis begun under ex-President John Mahama's administration.1 min


7754
1.7k shares, 7754 points

The maverick Member of Parliament (MP) for Assin Central, Kennedy Ohene Agyapong has revealed that the banking crisis begun under ex-President John Mahama’s administration.

The banking crisis, according to Kennedy Agyapong was covered up by John Mahama’s government because they lacked the courage to resolve the issue and did not want to be accused of the collapse.

Kennedy Agyapong who was speaking on Adom TV’s Badwam hosted by Omanhene Kwabena Asante said, “People are saying banks have collapsed under the NPP government. NO! The banks collapsed as far back as 2015. They concealed it. Why did the NDC release money to cushion the banks?”

Kennedy Agyapong added, “It didn’t start under the NPP government. It started in 2015 but the NDC lacked the boldness and didn’t want to take the blame for it.”

In contrast, Sampson Ahi, the MP for Bodi defended his party that the monies released by his government were not meant to cover up the banking crisis but to rather bail out the banks from collapsing.

“It was just to bail them out. What is wrong in saving companies that provide employment to people in this country? We were not only thinking about profits but also the social impact the crisis may have,” Sampson Ahi claimed.

Background

Some seven banks in Ghana have collapsed just in a year following an investigation by the Central Bank of Ghana led by KPMG into their operations.

According to the Central Bank of Ghana’s investigations, The Beige Bank, Sovereign Bank, and Construction Bank which have gone bankrupt, obtained their banking licenses illegally through the use of suspicious and non-existent capital.

The Central Bank of Ghana has, therefore, merged The BEIGE, Sovereign, Construction, UniBank and Royal Bank into the Consolidated Bank of Ghana Limited to save the situation.


 


Like it? Share with your friends!

7754
1.7k shares, 7754 points

What's Your Reaction?

hate hate
967
hate
confused confused
2902
confused
fail fail
1934
fail
fun fun
1612
fun
geeky geeky
1290
geeky
love love
323
love
lol lol
648
lol
omg omg
2901
omg
win win
1936
win
Ghananewsxyz

We bring you all the news in Politics, Entertainment, Sports, Business, Religion & Among Others in Ghana and Beyond!

Comments

comments

close

Ad Blocker Detected!

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format