Home News Business BoG Collapsing Unibank And GN Bank Wasn’t Right – Kweku Baako

BoG Collapsing Unibank And GN Bank Wasn’t Right – Kweku Baako

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Veteran Journalist and Editor-In-Chief of the New Crusading Guide Newspaper, Mr. Abdul-Malik has said that the collapse of Unibank, Heritage Bank, and GN Bank by the Bank of Ghana which many think is deliberate wasn’t right.

Unibank which belonged to former Finance Minister, Dr. Kwabena Duffour, and GN Bank which belonged to the founder of the Progressive People’s Party, Dr. Papa Kwesi Ndoum were collapsed in the financial sector clean up under the New Patriotic Party government. Mr. Seidu Agongo’s Heritage Bank was also collapsed.

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Reacting to the collapse of the banks, Kweku Baako said that he felt bad about the handling of the situation.

 

“I felt for the three banks: Nduom’s bank [GN Bank], Heritage Bank that belongs to that young man, Seidu Agongo (because of his extension into radio we met a couple of times in 2014 and 2015) and Dr. Duffuor’s bank [uniBank]”, Kweku Baako said.

Referring to Dr. Kwabena Duffour, Kweku Baako said, “I will tell [you] honestly; Dr. Duffuor is a personal friend but the action taken against the banks was not right.”

The three banks were among nine local banks that were collapsed by the Bank of Ghana on the grounds of insolvency.

Executive Director of the Danquah Institute, Richard Ahiagbah

The Danquah Institute has been accused of being the mastermind behind the collapse of the banks which were believed to be associated with the opposition National Democratic Congress.

The proponents of the Danquah Institute theory claimed the collapse was a ploy to weaken the owners of the banks who they claim were more NDC friendly.

The Institute has however denied any wrongdoing referring to the accusations as a propaganda narrative being pushed by the National Democratic Congress.

 

 

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