We’ll examine BoG’s response – Bi-partisan Parliamentary Committee

The Chairman of the bi-partisan parliamentary committee probing the collapse of UT Bank and uniBank, Joe Osei Owusu says a response it received from the Bank of Ghana with regard to the case will be carefully considered as the committee continues with its work.

He said the Bank of Ghana’s response does not necessarily mean the central bank has declined an invitation extended to it to assist the committee with its work.

Through its lawyers, the Bank of Ghana among other things explained that the petitioners, Prince Kofi Amoabeng and Dr Kwabena Duffour, owners of the two defunct banks, are only seeking to use Parliament to have its decision reviewed.

The central bank insisted that its decision to revoke the licences of uniBank and UT Bank was taken in accordance with statutory powers it draws from the Banks and Specialised Deposit Taking Institutions (BSDTI) Act, 2016 (Act 930).

“The BSDTI Act provides how persons who are aggrieved with such decisions may seek redress for their grievances, and the prescribed resolution mechanisms do not include recourse to Parliament.”

Some watchers of the space had interpreted the BoG’s response as a way of refusing to honour the invitation extended to it by the parliamentary committee.

Joe Osei Owusu, chairman of the ad-hoc committee, in a Citi News interview said his team will meet to examine the response and request additional details if need be.

“We received the Bank of Ghana’s response to the petition. We asked them to respond to the petition, and they have responded. The committee will put them together and consider them, and we will consider whether we need to do more and if yes, what are we going to do more on.”

Source: Citi Newsroom

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