A pro-National Democratic Congress pressure group has a held a press conference in Accra to ask President John Mills to immediately stop the planned sale of The Trust Bank Ghana Limited to banking giant, ECOBANK.
The Coalition for the Protection of Individual Liberties and Constitutional Rights (COPCOR) claims to have credible evidence that the planned sale of TTB is �dubious� and seeks to only enrich a few people whose names it declined to release.
It comes at the time negotiations have reportedly intensified between top officials of the two banks, with the Social Security and National Insurance Trust (SSNIT) the biggest shareholder in TTB reportedly upping its resolve to sell its stake in the bank.
Addressing journalists in Accra, National Coordinator of COPCOR, George Agbenyikey, said the President must intervene and stop the alleged self seeking appointees of his government from selling The Trust Bank to ECOBANK.
He said �We know for sure that this proposed sales transaction clothed under the name of a merger is being fuelled by one big individual, name withheld whose vested interested does not conform generally with our party and the ruling government.
TTB is in good standing as it has met with the central banks mandatory minimum capital requirement of 60 million cedis.
The bank was the first bank in Ghana to have exceeded the required minimum by generating over �66 million in additional capital in a right issued announced in 2009.
That exercise alone, brought TTB the total stated capital of TTB to over �91 million and the shareholders funds, to �122 million, by the end of the 2010 financial year.
COPCOR is particularly unclear about the hasty decision being made towards the plan sale. Ghana also deserves to keep one of the best performing banks her own and TTB should not be left to go into the hands of foreigners�
COPCOR also made a direct call on SSNIT to abort its plans to sell of its shares in The Trust Bank, saying the group and its members are determined whatever lawful step it takes to stop the deal.
He declared that the association will not remain unconcerned and urged government to consider the 2012 elections whiles �a few greedy ones continue to pursue their parochial interest and will do everything to resist this move to sell TTB�.
Source: Citifmonline.com
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