Regulators and individuals fingered in banking crisis to face justice - Akufo-Addo

We have begun bringing perpetrators of the banking crisis to justice, that is coming from president Akufo-Addo.

According to him his government is committed to bringing those responsible for the banking crisis to justice.

He explained that there is an ongoing court case and when the legal system finds persons guilty, they will be taken head on.

“We have one case in court and if prima facie evidence of criminality is found in the other angle during investigation which according to my information is likely, then the perpetrators of the crisis being both regulators and individuals will face justice soon”.

He made these statements while addressing participants at the 71st annual New Year School and conference at the University of Ghana.

Akufo-Addo bemoaned the painful but necessary move to salvage the country’s banking sector.

He expressed that government has spent a 12.7 billion cedis of taxpayer’s money on the nine collapsed indigenous banks and micro finance institutions in the country.

The decision, President Nana Akufo-Addo justified stating the amount injected into those banks, has safeguarded depositors’ money and minimized job losses.

While addressing addressing the New Year School, news broke on the former CEO of defunct Beige Bank, Michael Nyinaku, and former CEO of defunct UT Bank, Prince Kofi Amoabeng being arraigned on charges of Stealing and Money Laundering in relation to the banking crisis. They both pleaded not guilty before Circuit Court Judge Emmanuel Essandoh. Hearing has been adjourned to the 22nd of January 2020.

The New Year School and Conference

The School of Continuing and Distance Education under the University of Ghana has successfully organized the Annual New Year School and Conference (ANYSC) for the past 70 years.

The Annual New Year School and Conference is an annual forum where issues of national interest and concern are discussed, based on a selected theme with sub-themes. It serves as a platform that brings together Ministers of State, captains of industry, various union leaders and participants from all walks of life to deliberate on issues of national interest and make recommendations that will shape policy.

At the end of every School and Conference, a Communique is issued based on recommendations of participants and discussants. This has informed some policy decisions and directions in the country.