The Bank of Ghana should have showed up at the Parliamentary Committee of Ghana to answer an appeal by some investors of dead UT Bank and Unibank.
But the Governor of the Bank of Ghana, Dr. Ernest Addison, has given a detail reaction to the explanation the Central Bank won’t show up before the advisory group.
As indicated by him, one of the significant reasons is to permit the lawful procedures to stream easily, since a portion of the shareholders have effectively eased back the cycle with many counter suits.
Addressing participants at the Ghana Chamber of Commerce and Industries Business Forum, Dr. Addison said, rushing to parliament to seek redress for the renouncement of an institution’s licence isn’t one of the cycles set down under the law for the individuals who feel bothered by a licence repudiation by the Bank of Ghana.
As indicated by the Governor, there are as of now, various actions documented in court and at mediation by similar people who hurry to parliament for cover up and the Bank of Ghana basic reaction to parliament is consciously to permit the forthcoming legitimate cycles to run their course.
Dr. Addison further said:
“Indeed sometimes in September 2018, the 7th Parliament undertook a formal inquiry into the financial sector clean up, the key factors that led to it and the manner in which it was carried out”
Among other things to appear before it and to answer specific questions aimed at assisting the committee to understand the events surrounding the cleanup exercise.
The Bank of Ghana cooperated fully with the committee and provided all the necessary information to assist its members reach their own conclusions
Dr. Addison clarified that the Central Bank had trusted the panel would have made accessible its report to Parliament and general society after thoughts, but nothing was heard.
He called for public help for the collectors to have the option to recover all properties of the dead financial firms, just as the government, to recuperate the over ¢19 billion bailout reserve used to settle contributors reserves.
The Governor additionally used the opportunity to demand the Finance Committee of Parliament to disclose its analytical report on the financial area tidy up exercise, which conducted in 2018.