Minister of Information Kojo Oppong Nkrumah has brushed aside allegations that the state has intentionally crashed some of the commercial banks.
Some people including the opposition National Democratic Congress (NDC) have been smashing government for willingly destroying some of the country’s financial organizations.
A report published by the Bank of Ghana on Friday 16 August 2019 stated that the cancelation of the banks’ licenses had become inevitable as they were insolvent even after a normal duration during which the Bank of Ghana had collaborated with them in the hope that their investors would liquidate them to return them to solvency.
Some people have criticized the initiative, but at a press conference in Accra, information minister Kojo Oppong Nkrumah said that such statements against license revocation are illogical.
He said the banking sector’s sustainability was a concern and that “the state will proceed to provide assistance to the Bank of Ghana to take action in that environment.
He was presenting the stance of the government and said that this is a government that guarantees citizens employment and income why would such a government be involved in purposely shutting down businesses of people when it understands that it will ultimately have to answer for how many employment generated.
