For some time now some banks in Ghana have been closed down following poor management and some other factors.
We appreciate and accept that jobs and properties have been lost but the harm of allowing these banks to operate would have been greater than this if not government's swift intervention.
Considering customers of D.K.M, Menzgold, God is love, Justa Motors and many other collapsed banks and financial institutions, the previous government led by President John Dramani Mahama could have taken some measures at the time and would have saved us.
H.E President Akufo-Addo led administration took upon himself to merged these banks which were on the verge of collapsing has come under severe criticisms.
Recently, Founder of Perez Chapel, Bishop Charles Agyinasare has waded into the discussion by criticizing government for the action taken.
He blamed the government for taking this action without considering helping them to be solvent meanwhile the damaged caused was beyond repairs and government had no option than to take these steps to merged the defunct banks (Consolidated Bank Ghana) which is fully in operational while their directors are in court so Bishop Agyinasare describing these efforts of government as "Enviness" is out of place.
The Government never closed down any of these banks but only took over the management of these banks.
We think the respectable Bishop should rather talk commend government for the action taken to save depositors funds and as well support government to fight these CEOs and directors who deliberately mismanaged these funds to served as a deterrent to others who potentially want to choose that path thinking they can also walk freely.
The Minority in Parliament led by their chief economic and financial propagandist Hon. Isaac Adongo has peddling falsehood for cheap political points but thank God Ghanaians are intelligent and could read between facts and lies no matter how noise they make.
President Akufo-Addo upon advice from the Economic Management Team (EMT) ably led by the learned Dr. Mahammudu Bawumia took a decision to revoke licenses of these defunct banks swiftly to save depositors funds. There's the misrepresentation that government deliberately collapsed the banks for its own parochial interest knowing very well it was consolidated.
In as much as government appreciates the position of Bishop Charles Agyinasare and his constant outburst on this government, I appeal to him to cross-check the facts before else when the truth becomes bare his reputation will be on the line.
I plead with Bishop Charles Agyin Asare to speak about the benefits customers and potential customers will receive which surpasses the closedown.
Edmund Kyei
NPP Asokwa Constituency 1st Vice Chairman
Member Of NPP National Communications Team
Source: Edmund Kyei
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
For those who don't believe that the owners of the banks , including Nduom misused depositors funds, they should see the Receivers/Liquidators and they would be shocked. Nduom transferred most of depositors funds outside the country, some of it was used to buy collapsed entities. When will he revive those businesses and make profits, don't forget he is obliged to pay depositors monthly or quarterly.
A MAN OF GOD WAS EXPECTING THE GOVERNMENT TO USE THE TAXPAYERS MONEY TO THE GREEDY CEO'S AND BOARD OF DIRECTORS TO REVAMP THEIR BANKS AFTER THEY HAVE MISAPPROPRIATED THE DEPOSITORS FUNDS? NO WAY. AGYEN ASARE SHOULD BE ASHAMED OF HIMSELF. HE COULDN'T ADVISED HIS BANK TO PROTECT THE DEPOSITORS FUNDS.
Chock Papa Kofi or whatever you call yourself. You said Edmund was on political lenses but what were you also wearing? Cultural or religious lens? I also beg your pardon, do not bring issues in favour of personalities. Do you expect Papa Kwasi Nduom to take advantage of the vulnerable, depositors to enrich himself? Building those investments to the pain of ordinary Ghanaians should be a strong matter of concern to you if really you would like to face the truth. Look at the traces of transactions and that of your so called Bishops enriching themselves to the disappointment of their congregation. You better feel for the ordinary. With BOG effective measures who is suffering? Papa Kwasi Nduom and Bishop Agyin Asare, shareholders of the defunct banks are still cruising in their air condition offices and SUV vehicles. The hardworking depositor has been waiting for months to be paid, others experiencing poor health conditions and uncountable deaths. Kofi, talk about the pain their mismanagement has caused the depositors and stop bashing us with 'invested in this and that' with ordinary peoples monies. Leaders like Bishop Asare should feel for the ordinary in their speeches and stop blaming the government whose effort has yielded safety for some of us. It will be better for the Bishop to speak the truth of his banks behavior and stop blaming unnecessary.
First of, Edmund Kyei, your writing skill is horrible, and your argument was skewed with your political lens on. Your projections were baseless. You argued on only banks which have been consolidated. That is not even the focus of my rebuttal. My focus is on trusted financial institutions like Dr Papa Kwesi Nduom's Goldcoast securities and GN Bank. What would you pontificate about his business? This is a multi-million dollar business tycoon for crying out loud, with businesses dotted across the length and breadth of the country. Have you seen his recently constructed football stadium in Elmina? have you seen his tertiary institution situated en route Komenda? His Coconut Groove hotels? Football club? And other businesses? Have you enumerate how his entrepreneurial skills have blessed this nation? And for political insecurities, he was "amputated" financially? To what end? And you sit on your high horse and write such despicable tale about A servant of God? Because he decided to be a citizen and not a spectator? I beg your pardon. I applaud the Government for so many interventions carried out so far. His Excellency has performed creditably well. But the likes of you make his government unpopular, and yes, for some decisions he took, I doubt I will vote for him this time around let alone campaign for him. It's a pity NPP did not learn any wisdom from what brought NDC to their knees. I will leave y'all with this... "TIS NOT THE SIZE OF THE YOUNG KNAVE'S BLADE, BUT THE LUST IN HIS THRUST BY WHICH LEGENDS ARE MADE" ~Peter Dinklage
@ kweisi. It is called "Dwen hwe kan".It is a natural attribute to all .Some just ignore imminent danger or damage to their own peril. Reactive yours.
How do you know the harm would have been bigger? Which research was done to arrive at your conclusion? How much liquidity support did these banks need? 2billion? How much was eventually spent to kill these banks? Over 20billion! Ghanaians, open your eyes! Open your eyes! You have been scammed big time by this NPP government. Open your eyes!
Was Mr. Agyinasare a chairperson of a collapsed Savings and Loan institution? If yes, then I will advice him to just ***barred word*** because it is a serious indictment on him. How can he blame the government when the banks and those savings and Loan institutions had collapsed already? I don't even know why the government has so far not pressed charges those ***barred word*** who acquired banking licenses to steal depositors' funds. Mr. Agyinasare, please keep quiet because you were part of the rot.
I can't think far,was this man God expecting Government to continuously give the tax payers money for these Guys to misappropriate them.The fact is that Previous Government made several attempt to bail them out but they withdrew the moneys for their personal benefits.please the banks were not collapsed, there was change of management even though significant people lost their jobs which is normal in takeovers which the Government is obliged to help them
Nii, you've said it all. That is the fact of the matter and cannot be changed by anyone, being a pastor-politician, a pastor or politician. The man now speaks like a politician, not that he's ill informed. He is intentionally doing this to serve his political masters.
I think the Pastor is ill-advised. My point is that, someone opens his bank which is regulated, collects deposits. After mismanaging his capital and depositors funds, BOG gave them financial support, which they again mismanaged. How one earth do you want any reasonable government to still give them financial support.