Minority wants bi-partisan probe into collapse of UT, Capital Banks

The Minority in Parliament is demanding a bi-partisan probe into the circumstances surrounding the collapse of two indigenous banks in Ghana.

Cassiel Ato Forson who is the Minority spokesperson on Finance suspects something ontoward may have happened and demanded investigations into it.

Addressing a press conference, Tuesday, Mr Forson said the managers of the two banks- UT and Capital- must be dealt with if they are found culpable of any wrongdoing.
The two companies had their licenses revoked after it emerged they were in distressed state. Their assets were taken over by the GCB Bank in quite a dramatic fashion Monday.




The workers of the two banks reported to work Monday morning but closed as workers of GCB Bank. Their fate will be decided after a skills assessment has been done by the new owners

Even though a number of reasons have been cited for the collapse of the two banks, non-performing loans appears to be the biggest reason.

The Central Bank has already begun investigating the liabilities of the two banks and hinted of sanctions against the managers if they are found to have engaged in any wrongdoing.

But the Minority in Parliament is not impressed with scope of the investigations. Cassiel Ato Forson wants a more transparent, independent investigations into the circumstances surrounding the collapse.

More soon

Source:Myjoyonline