Header ad
Breaking News

Investigate collapse of uniBank and UT Bank – Bagbin

The Speaker of Parliament, Alban Bagbin is proposing the formation of a seven-member committee to probe the issues in a petition brought before the house by two majority shareholders in banks that were affected by the financial sector clean-up.

The Speaker made the proposal after the petitions were officially presented on the floor by MP for Bawku Central, Mahama Ayariga on Tuesday, March 23, 2021. Two citizens, Prince Kofi Amoabeng and Dr. Kwabena Duffuor petitioned Parliament to investigate the conduct of the Bank of Ghana and the Ghana Stock Exchange for revoking the license of UT Bank as well as uniBank and delisting them from the country’s stock exchange.

Below are excerpts of Mr. Amoabeng’s requests to Parliament:

  • Investigates the conduct of the Bank of Ghana and the Ghana Stock Exchange for the revocation of UT Bank’s license and delisting the bank without due regard to the rules of Administrative Justice guaranteed under article 23 of the 1992 Constitution.
  • Directs the restoration of the banking license of UT Bank Limited by the Bank of Ghana and the remedying of the harms done to the shareholders’ property rights as a result of the conduct of the Bank of Ghana.
  • Gives any other directives that Parliament may deem appropriate.

Dr. Duffour is also asking the house to investigate the “take over appointment of an Official Administrator of Unibank Ghana Limited”.

He is also asking the House to remedy the “harm” done to the shareholders.

Below are excerpts of Dr. Duffuor’s demands:

  • Investigates the conduct of the Bank of Ghana in the takeover, the appointment of an Official Administrator of uniBank Ghana Limited, and the circumstances of the revocation of the banking license of Unibank Ghana Limited;
  • Directs the restoration of the banking license of Unibank Ghana Limited by the Bank of Ghana and the remedying of the harms done to the shareholders’ property rights as a result of the conduct of the Bank of Ghana.
  • Gives any other directives that Parliament may deem appropriate.

Source: CNR

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *