We will investigate the collapse of banks; be better managers of ESLA – Seth Terkper

The Former Minister of Finance under the erstwhile NDC administration, Seth Terkper, has stated that if voted into power, his government will investigate the banking sector clean-up exercise that led to the collapse of some local banks in 2019.

“We will investigate the collapse of the said banks because people have lost their savings. Lessons must be learned from this experience,” he was quoted by 3news.com.

He intimated that the current government cannot manage energy sector levies effectively.

According to him, the current government has been unable to correctly account for the levies.

“We will manage energy sector levies (ESLA) better when we come back. Monies accrued from ESLA cannot be accounted for by this government even though it’s meant for settling debts within the sector,” he said.

Seth Terkper had earlier slammed the Vice President, Dr. Mahamudu Bawumia, for asserting that former President Mahama is ill-informed on what happened during the banking sector clean-up.

“I don’t understand whether the former president has taken his time to actually understand what happened in the banking sector. Some atrocious things happened, and this is why these banks had to be saved. They were not collapsed. They were merged into other banks. And no banking depositor lost one cedi,” Dr. Bawumia stated during his engagement with the media.

He asked the Vice President to read before making those comments.

“With all due respect to my president and to my vice president, I think the statement is condescending. It’s very condescending, and this man, President Mahama, has been in government for more years, for more years, and he chaired an economic management team around which there were experts, and he managed an economy,” he added.

SSD/OGB

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