Dr. A. O Abudu, a former chief economist of Bank of Ghana, said ‘You are criminal’ on the part of some staff of the central bank is partially to be blamed for the financial untidiness that has caused 7 local banks to collapse.
According to him, staff of Bank of Ghana who became unsuccessful on their responsibilities in ensure that the affected banks did the right thing in line with regulations are nothing but criminals.
He said look at even the banking crisis, they were going through shortcuts which include those people who were criminals in the Bank of Ghana and informed that these are regulations, people must meet the terms and people who are sitting there, they are not complying with the regulations, and they are condoning them. So they are a criminal.
Seven native banks including UT, Capital, Soverign, Construction, Royal, UniBank and Beige banks have been collapsed during a year, which causes about 2000 job losses.
Five of the banks, whose licenses were revoked by the Bank of Ghana over liquidity issues, have now been consolidated to form the Consolidated Bank Ghana Limited with the government injecting four hundred fifty million cedis into it as a minimum capital.
According to the former Bank of Ghana chief economist, the failure on the part of some officials of the central bank to do due assiduousness plunged the banking sector into the muddle
He observed that short of honesty and unruliness, which he said are the character of some Ghanaian, is causing the country a lot of damage, noting the situation is preventing the country from developing.
