Former Member of Parliament for Nanton Constituency, Hon. Murtala Ibrahim Mohammed says it simply does not make sense for the Akufo-Addo government to spend Ghc18 billion just to collapse banks.
According to him, if the Akufo-Addo government had extended that Ghc18 billion bailout to those banks as support, they would have been in a better position to transact business.
“How can you spend about Ghc18 billion to collapse banks? It simply does not make sense. You are spending Ghc18 billion to collapse banks. Does it make sense? Now the question is, that Ghc18 billion, if you had extended it to those banks, if you had given those Ghc18 billion as support to those banks would they have been in a better position that would be considered acceptable by government? My answer is yes,” he averred.
Contributing to a panel discussion on Radio Gold’s 'Alhaji and Alhaji' flagship program, Hon. Murtala Mohammed pointed out that "collapsing of the banks is not in circinatus to the challenges that we are confronted with in the banking sector as a government but if you had provided the facility and the money to those banks, the people, hundreds if not thousands who have lost their livelihood as a result of this insensitive decision, those people would have still been on their jobs.”
Wondering why government will spend billions of Ghana cedis while it is still indebted to road contractors, the former NDC MP further alleged that over 7000 people have lost their jobs in the banking sector as a result of the reforms that led to the collapse of these indigenous banks.
He also accused the Governor of the Central Bank, Dr Ernest Addison of dabbling in partisan politics instead of focusing on his priorities as BoG head.
"Multiply that 7000 by three, just say that they each have an average of two dependants, multiply the 7000 by 3, we are talking about 21,000 Ghanaians who indeed would have lost their jobs and after that we had other banks that were collapsed; we had businesses that were collapsed as a result of the collapse of those banks," he added.
“The Governor of Bank of Ghana talks too much and it is true, when the Governor of Bank of Ghana sneezes, the entire banking sector and the entire economy catches cold and that is what happen. You have a Governor of Bank of Ghana who does politics than even operating as a Governor of a bank such as the Bank of Ghana; so that is the issue,” he chided.
Source: Daniel Adu Darko/Peacefmonline.com/[email protected]
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Loud mouth but empty brain. No wander he was one time MP. D0nkey!
no wonder you come from that some place with no brains
What is your name? Did you read your Koran today?
eiii this good for nothing guy is still around, hahahahaha ndc and fooling they want to be heard on everything though they don't understand the issues at stake it is good they are doing that it makes their party unattractive to discerning Ghanaians (floating voters)
Come to think of it. This could have been done differently by having a different threshold for Ghanaian owned from foreign banks. What is the sense in having the same minimum capital for Barclays, Standard Chartered as GT, UT. The foreign banks will make the profits and fly it to their countries. If you were to allow the Ghanaian vultures to eat, at least they will sh11t to fertilize the soils for the maize farmer... Asemsebe
What happened to Bank for Housing and Construction and the Co-operative Bank? Have depositors been paid their monies. Were the staff resettled in any way. Murtala please do not talk like somebody who has no education. Do you know how much would have been lost if these bank were not rescued due to the incompetent supervision of the Bank of Ghana whose Governors left the post when exposure started starring at them.
WHAT IS WRONG WITH OUR MEMBERS ? HOW CAN A FORMER MEMBER OF PARLIAMENT TALK LIKE THIS ? DO WE HAVE TO DO POLITICS WITH EVERYTHING OR JUST TO PLEASE OURSELVES THAT WE HAVE ALSO SAID SOMETHING , HOWEVER ***barred word*** IT SOUNDS. WE ARE NOT DOING OUR GREAT PARTY ANY GOOD BY THIS TYPE OF PRONOUNCEMENTS HOW CAN ANY BANK BE CALLED A BANK WHEN THEY DO NOT HAVE AN OPERATIONAL CAPITAL. OR IS MURTALA SAYING THE CITIZENS OF GHANA THAT INCLUDES OUR OWN MEMBERS SHOULD LOSE THEIR LIFETIME SAVINGS WHEN THESE BANKS OPERATING WITHOUT CAPITAL COLLAPSES EVENTUALYY.
Because Npp and the short man are st==upid, that is why they keep collapsing local banks and wasting tax payers money with their fu++cking egos))
it is a shame we have persons with limited understanding of what they talk about managing the economy. is it your poor understanding of the issues or you are just being hypocritical? otherwise it does not make sense to talk the way you are talking. even the some owners blame their partners and not government.
you clear do not understand what you are talking about. how can a bank survive with a negative CAPITAL ADEQUACY RATIO (CAR). do you even understand it? please learn and stop embarrassing yourself.