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NEXT NDC GOVERNMENT TO COLLAPSE DATABANK

Politics

Any next government that will be formed by the National Democratic Congress will spearhead deliberate efforts to collapse Data Bank Financial Services, not for any wrongdoing but just because it has Finance Minister Ken Ofori Atta as a major shareholder.

Any next government that will be formed by the National Democratic Congress will spearhead deliberate efforts to collapse Data Bank Financial Services, not for any wrongdoing but just because it has Finance Minister Ken Ofori Atta as a major shareholder.

 

The party’s plan was revealed by an appointee of former President John Dramani Mahama, Afrifa Yamoah Ponkoh, a former municipal chief executive for Ejisu in the Ashanti region. 

Yamoah Ponkoh, like many in the NDC such as Bolgatanga Central MP Isaac Adongo, believes the NPP government deliberately collapsed uniBank because former Finance Minister Kwabena Duffour was a major shareholder.

                                                                                                 BoG action

The Bank of Ghana, on August 1, 2018, announced that it had merged iniBank and four other banks under a new name Consolidated Bank of Ghana (CBG), with government committing GHC450 million into the take-over.

According to the governor of the central bank, Ernest Addison, the merger was crucial because the five banks, including iniBank, were in critical financial distress and that the intervention would “help ensure that the banking sector maintains a strong indigenous presence.”

But in a radio interview in Kumasi, Afrifa Yamoah Ponkoh slammed Finance Minister Ken Ofori Atta and the NPP government for dealing with Dr. Kwabena Duffour as an enemy as far as the collapse of uniBank was concerned.

                                                                                            Notice to Ken Ofori Atta

He, therefore, served notice that Finance Minister Ken Ofori Atta would have a taste of his own bitter medicine given to Dr. Kwabena Duffuor if the NDC returns to power in 2021 because he [Ofori Atta] will see his Databank Financial Services going down.

“I’m sure Ken Ofori Atta’s Data Bank is still there. Tell him that I say in 2021 we’ll collapse Databank; come what may, in 2021, Databank will be collapsed. If a policeman is bent on arresting you, he’ll ensure that out of the 99 laws, you fall guilty of one of them. As we speak, over 800 staff have been sacked over the collapse of the bank. When we talk of performance, Databank comes nowhere near uniBank: you talk of assets, etc, and yet someone who feels powerful in government has caused uniBank’s collapse. And he’s sitting there jubilating over the collapse of uniBank. He eats and laughs, beating his belly. I tell you, [Ken Ofori Atta], we’ll also collapse your Databank when we come to power,” the Mahama appointee stated.

                                                                                          NDC to return banks to owners

Meanwhile, the MP for Bolgatanga Central, Isaac Adongo, has announced the intentions of the NDC to return the assets of the collapsed banks to their owners if the party wins the next election.

Speaking at a banking forum in Accra, Mr Adongo assured shareholders of defunct UT and Capital banks, as well as banks that were consolidated this year of a fair treatment if the NDC assumes the reins of power 2021.

He believes even though the banking sector is going through a challenging phase, directors and shareholders have been used as scape goats for the Bank of Ghana to escape blame.

According to him, the move is not only unfortunate but it has the tendency to stifle Ghanaian entrepreneurship.

He mentioned the government's indebtedness to the collapsed banks, the involvement of current directors of Consolidated Bank with the now defunct banks and the choice of collapse over bailout as issues that raise flags about the genuineness of the decision.