Banking Sector Clean-Up: NDC to look into wrongful bank closures if elected – Adongo

The Ranking Member of the Finance Committee of Parliament, Isaac Adongo, has declared that the National Democratic Congress (NDC) will dig into banks that were wrongfully closed by the current government if elected.

In an interview on GHOne TV, Mr. Adongo, who is also the MP for Bolgatanga Central condemned the government’s handling of the banking sector, asserting that banks were shut down without just cause.

“They shut down banks that had their audited accounts for three years, and those banks were spared. Banks that were in trouble because the government itself owed its customers and refused to pay their customers for those banks to be rightly capitalized from their own funds were shut down. An example is Unibank.

"Dr. Nduom’s bank owed customers a lot of money and those customers were supposed to be paid. Those customers would plan to pay their debt to the banks. The banks will be capitalized, liquid, and run, and you were going around shutting them,” Adongo stated.

Adongo stressed the need for an investigation into the bank closures to restore public confidence in the judiciary’s handling of legal matters within the banking sector. He believes that this action will help to rectify the wrongs of the past and promote a stable banking sector.

The NDC’s pledge to look into wrongful bank closures has stimulated a heated debate in the country, with many calling for accountability and transparency in the banking sector. As the country gears up for the next election, the banking sector’s woes remain an urgently important issue that demands attention from all stakeholders.