Murtala Mohammed Ibrahim, a former NDC MP for Nanton Constituency has accused President Akufo-Addo and the Finance Minister, Ken Ofori-Atta of orchestrating the collapse of five (5) indigenous banks to pave way for an international financial institution to operate in the country.
According to him, the collapse of the 5 banks is a ploy to bring in a highly prestigious and a leading global financial services firm and one of the largest banking institutions in the United States.
The banking sector has been faced with the collapse of some indigenous banks in the country.
The resultant bank is called Consolidated Bank Ghana Limited.
The Bank of Ghana, a couple of weeks ago, declared five banks —Unibank, Sovereign Bank, The Construction Bank, BEIGE Bank and The Royal Bank— insolvent and revoked their licences then merged them into what it has been christened the Consolidated Bank Ghana Limited.
The news comes barely a year after it revoked the licences of the UT and other banks which were also indigenously owned.
The BoG said some of those banks were significantly undercapitalised and beyond rehabilitation, while others supposedly obtained their licences under false pretences.
Murtala, a former Deputy Trades and Industry Minister in the erstwhile Mahama-led NDC government, who was speaking on the banking crises in the country during a panel discussion on Radio Gold's Alhaji and Alhaji, Saturday, said the collapse of these numerous banks is just "a ploy by the BoG governor (Dr. Addison), finance minister and the President to bring in an American bank called Morgan JP & Chase (JPMorgan Chase & Co)".
Source: Peacefmonline.com
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He doesn’t even know the correct name of the bank and this man is a former teacher! Teacher banza! The banks name is JP MORGAN CHASE! In any case, isn’t this the bank that most of the minority’s MPs save their $$$ at? Murtala, have several seats will ya?!
If Morgan JP & Chase is coming to invest in Ghana,I think is good and most of the Ghanaian people in North America will welcome it because it is a good bank.
Seriously am beginning to understand all that the vice president was saying before the elections. NDC members can't read , neither in power or out. I thought they could prove him wrong when they are out of power cuz then they will have enough time to read and contribute meaningfully. I truly feel sorry for them .
And this man is supposed to have been appointed a Deputy Minister of Trade. It is a shame at this level of dispositional mischief and lies in a glaring sense of it to have escaped the President JM to appoint such a person for a ministerial position. Just look at his face, he is not feeling guilty to present such a baseless and silly view. This bold action was taken singularly by the BOG to sanitize our bank system. And if at the end of the day and in the face of all the corrupt deals of our own local banks, a foreign bank teams up with Ghanaian investors and set up a bank in Ghana. What is wrong with that? After all, it was solely our own local banks, without a foreign component, which failed us miserably. We as Ghanaians should rather be proud of our President and his Finance Minister to have won the confidence of Morgan JP & Chase to come and invest in Ghana.
Perfect commentary. Need I say more. Thumbs up Kanazoe Ford.
There goes the second 1diot. The first 1diot is the ganja-smoking Adongo who made similar claims. If you have such characters representing you in parliament, how can you expect any meaningful development for the constituents? Harunah did well by masterminding the exit of this m0ron from parliament. The likes of Mutala are making a joke of the northern MPs.