Banking crisis: Stop crucifying Directors – Kulendi

A private legal practitioner, Yonny Kulendi has condemned the haste with which some Ghanaians are demanding for the punishing of directors of some seven indigenous banks that have collapsed.

The banks are; Unibank, the Royal Bank, Sovereign Bank, Construction bank.

The rests are; Beige bank, UT bank and Capital Bank.

Five of the aforementioned banks have since been merged into one entity—Consolidated Bank of Ghana (CBG), a move the governor of the Bank of Ghana (BoG), Ernest Addison explained was aimed at ensuring that the banking sector maintains a strong indigenous presence.

The Bank of Ghana has set up a special office to investigate its staff whose actions contributed to the collapse of seven banks.

The Office of Ethics and Internal Investigations, according to a statement from the Central Bank, will identify personnel who were directly or indirectly involved in the crisis in accordance with its Human Resource policies.

The regulator said staff found culpable will be prosecuted.

Commenting on the shakeup in the banking sector on News File Saturday on Joy FM, Kulendi called for cool heads to prevail.



“We always have desired objectives and we are quick to jump there. The man is saying these monies cannot go down the drain. If it has to go down the drain I have to feel that it is somebody’s fault and that it has to be proven,” he stated.

“Upfront people have already concluded that some people are thieves, some people have raided, some people have shared and are jumping around and saying that throw them into jail.

“We have not learned how many times we have stampeded the system into this rush conclusion and when these situations are measured against the full rigors of the law they implode, the system suffers, they get nowhere and we are back at it again,” he added.