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0 Bolgatanga Central Member of Parliament Isaac Adongo has said that the Mahama administration will follow due process to assess whether the banks that went under during the financial sector clean upon exercise, were justifiably collapsed or not.
He says the process is left in the hands of the current management of the Bank of Ghana to assess.
Former Finance Minister, Ken Ofori-Atta supervised the banking sector clean-up from mid-2017 to January 2020.
The clean-up saw a reduction in the number of banks from 34 to 23, whilst 347 microfinance institutions, 15 savings and loans and eight finance houses had their licences revoked.
Speaking in an interview on TV3 Friday, February 29, Isaac Adongo, a member of the board of the Bank of Ghana said “It is due process activity, those that were unjustifiably collapsed, there have to be a process to arrive at whether the banks were justifiably taken away. that is a process we leave to the BoG.”
During the 2016 campaign season, the presidential candidate of the National Democratic Congress (NDC) John Dramani Mahama promised to restore the licenses of the banks that were wrongly revoked during the financial sector cleanup.
He also promised to rationalise the fees charged at the ports. He says his administration will also introduce measures to deal with the fall of the Cedi against the Dollar.
He said these while launching the NDC manifesto on Saturday, August 24 in Winneba.
“We will rationalize port fees and charges, and measures to stabilize the cedi and macroeconomic environment,” he stressed.
The post Failed Banks: Mahama will follow due process to assess whether they were justifiably collapsed or not – Adongo first appeared on 3News.
