How can Nana Addo spend GH¢18 billion to collapse banks? - NDC man queries

Murtala Ibrahim Mohammed, former Member of Parliament for Nanton Constituency has questioned President Nana Addo Dankwa Akufo-Addo asking the government why it spent GH¢18 billion to local collapse banks in the country.

Murtala Ibrahim Mohammed

He said the government deliberately and selectively targeted and destroyed certain businesses adding that it simply does not make sense.

His comments come on the back of the Bank of Ghana revoking the licenses and downgrading some financial institutions due to alleged illegality by the firms.

The former MP said "How can you spend about GH¢18 billion to collapse banks? It simply does not make sense. You are spending Ghc18 billion to collapse banks. Does it make sense?

"Now the question is, that GH¢18 billion if you had extended it to those banks if you had given those GH¢18 billion as support to those banks would they have been in a better position that would be considered acceptable by the government? My answer is yes."


Speaking on Accra-based Radio Gold's flagship programme Alhaji and Alhaji, Murtala queried why the government spent billions of cedis while it is still indebted to road contractors. 

"Collapsing of the banks is not in circinatus to the challenges that we are confronted with in the banking sector as a government but if you had provided the facility and the money to those banks, the people, hundreds if not thousands who have lost their livelihood as a result of this insensitive decision, those people would have still been on their jobs," he added.

He also indicted Dr. Ernest Addison, Governor of Bank of Ghana of conspiring with the government to mastermind the collapse of privately owned business entities.

"The Governor of Bank of Ghana talks too much and it is true when the Governor of Bank of Ghana sneezes, the entire banking sector and the entire economy catches a cold and that is what happens. You have a Governor of Bank of Ghana who does politics than even operating as a Governor of a bank such as the Bank of Ghana; so that is the issue," he added.


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