Communications Director of the National Democratic Congress (NDC), Sammy Gyamfi says former president and flagbearer of the NDC shall pay monies of customers in defunct financial institutions, locked up as a result of the financial sector clean up.
The Bank of Ghana in 2017 introduced some measures intended to strengthen the financial sector and also safeguard funds belonging to depositors and customers.
As part of the reforms implemented by the BoG, the minimum capital requirement was pegged at GH¢400 million. Also, reforms on loan reclassification and loan write-offs led to the regulator revoking the license of nine banks including UT, Capital, Beige, and the, Unibank. While several others were either consolidated, absorbed, downgraded or resolved.
Speaking at weekly press briefing organized by the National Democratic Congress, Mr. Gyamfi, who is optimistic that the NDC will win the 2020 elections, said the would be Mahama-led government will commit itself to fixing the “messed created the by the Akuffo government”.
“President Mahama when elected shall pay all customers of defunct institutions whose monies are locked up in full and restore indigenous Ghanaian participations in the financial sector”, he said.
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According to the NDC, the intended financial sector cleanup by the NPP government has rather worsened the plights of many Ghanaians instead of yielding positive results.
“We were told by this government that they were cleaning the banking sector, securing the depositors and investments of the customers of banking and financial institutions. Today we know that was a lie because that so-called cleaning up of the banking sector has turned out to be a messing up of the banking sector”, he alleged.
President Mahama, he said, is honest and will ensure the fulfilment of this promise to the latter in their first year in office.
Since the financial sector clean up, many customers of affected institutions have had challenges retrieving their funds, with several others battling economic hardships.
READ MORE :https://en.wikipedia.org/wiki/National_Democratic_Congress_(Ghana)
Source: Victoria Enyonam Adonu / ATL FM NEWS
