Chairman of the National Economic Dialogue, Dr. Ishmael Yamson has suggested a non-political review of the Bank of Ghana’s reasons for the close down of some banks in the banking clean up exercise.
Dr. Yamson wants an independent body established to do the review as he says patience must be eschewed in understanding the reasons for the close down of some seven banks.
“What we need is an independent body, don’t let us politicise it. Let us look at the reasons behind the clean-up because I also understand that they were investigations, forensic audit and all the rest of it which led to the conclusion that some acts were not in the interest of people who put their money there and therefore they should be closed.
“So my point will be let us understand the reasons why these banks were closed,” he told Keminni Amanor on TV3’s Hot Issues, Sunday, March 8, 2025.
According to him, although there may be reasons other than the liquidity challenges cited by the Bank of Ghana as reason for shutdown of the banks, it is an undeniable fact that the banks were facing liquidity crisis.
He further called for a more reasonable approach in dealing with the matter.
“We must be patient and understand the reasons behind the clean-up because quite frankly no Governor of a Central Bank will just get up and close 7 or so banks,” he said.
President John Dramani Mahama had criticized the former leadership of the Bank of Ghana for the way and manner the banking sector clean-up exercise was carried out.
The banking sector clean-up exercise saw the closure of several financial institutions.
In his address at the swearing-in ceremony of the New Governor and Deputy governor of the Bank of Ghana, on Tuesday, February 25, John Mahama expressed his concern that the decisions made under the banking sector reforms led to severe consequences for individuals and families.
The President had promised to restore the licences of the banks that in his view, were unjustly revoked.
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Source:
3news.com
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