Why Adongo stormed out of Parliamentary probe on collapsed banks

e annan

September 6, 2018 2:47 PM

Here are some of the reasons why he decided not be part of the investigations into what led to the collapse of seven (7) banks since last year.

Adongo, who is a member of the Finance Committee boycotted the in-camera sitting when it was just about commencing.

He has, however, received condemnation from some of the members of the Finance Committee for his conduct yesterday.

Chairman of the Committee, Dr Assibey-Yeboah said Adongo's attitude was uncalled for.

Fellow NDC MP and member of the Finance Committee, Fiifi Fiave Kwetey also condemned Adongo and said his actions and views doesn't represent the NDC.

However, for Adongo, the probe is a sham and cover up.

He said the documents documents presented to members of the Committee are a pale shadow of the information required to get a better understanding of the circumstances leading to the collapse of the seven banks.

The Finance Committee of Parliament is holding these hearings from September 5 to September 7.

Representatives from Consolidated Bank, KPMG, PwC and the Ministry of Finance are expected to appear before the hearing.

“These are the documents they gave to us; statement of the banking sector, press release by the Bank of Ghana, Governor’s speech. When it comes to KPMG, they only give you conditions and opinions of uniBank", Adongo conntended.

He said he expected that he would have in his possession documents pertaining to the asset quality reviews at uniBank or the terms of reference for the work KPMG did in relation to the bank, among others.

The MP argued that “those documents will give me a clearer understanding of what happened and not what the government tells me. I must read the documents and ask the Governor the appropriate questions.”

But the Chairman of the Committee later said the documents Adongo spoke about was shared to all members through a WhatsApp platform.

A claim Adongo finds ridiculous. He said: "Since when did parliamentarians get served with social media documents. Members of Parliament are going to meet over the collapse of seven banks, over 6000 people are losing their jobs…we are talking about 8 billion cedis of public funds being spent on this and you tell me that I was served on social media,” he queried astonished at the Chairman’s response.

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