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You destroyed other banks to grow Databank Bank - Adongo bites Akufo-Addo again

Thu, 17 Sep 2020 Source: My News GH

The opposition National Democratic Congress’ (NDC’s) Spokesperson on Finance, Isaac Adongo has accused President Akufo-Addo of spearheading the collapse of banks in the country to grow Ken Ofori-Atta’s Databank at the detriment of the taxpayers.

In an exclusive interview with MyNewsGh.com after the NDC’s Townhall meeting in Kumasi on Tuesday September 15, Hon. Isaac Adongo claimed that Databank (an investment bank believed to be owned by the Finance Minister, Ken Ofori-Atta) has had a record of growth in its assets to the tune of GH¢6billion as compared to its previous GH¢2billion assets that spurned from 1995 to 2016.

He added that, President Nana Addo Dankwa Akufo-Addo spent over GH¢22 billion of taxpayers money to succeed in eliminating competitors of Databank which he described as the worst vilest form of leadership exhibited by any Ghanaian President.

“The growth in assets of Databank under management from 1995 to 2016 was at Ghc2 billion and as I’m talking to you, just from 2017 to 2019, just three years and within two years of collapsing the competitors of Databank, the bank has miraculously had its assets grown under President Akufo-Addo’s leadership to Ghc6 billion, a growth of about 200%. Isn’t it surprising?

"The government has had to spend over GHS22 billion of taxpayers money to eliminate competitive financial institutions with a further Ghc12.5 billion still outstanding to be paid to depositors of Fund Management companies collapsed by the SEC, which is headed by Rev Ogbamey Tetteh, former Vice President of Databank."

"If this isn’t the vilest form of leadership exhibited by any Ghanaian President, then I don’t know what else will be… You just impoverish your fellow countrymen who have trusted you with their votes and power just to benefit your family. I mean how?” He stated.

Source: My News GH

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