A former Member of Parliament for Bantama, Dr Henry Kwabena Kokofu, has advised Ghanaians to disregard promises made by former President John Mahama.
Speaking on Adom TV’s Badwam Show, he stated that Mr Mahama’s assurance to restore licenses that were unjustly revoked is mere political talk.
“It’s true that there is an economic crisis globally and per reports things will get better soon. Mahama is sending a signal that he is prepared to pull the country back.
“I was in parliament when the then President Mahama addressed the house about a banking crisis and blamed the Bank of Ghana in 2015. At that time, smaller banks were struggling and he admitted there is a financial crisis. And he was in office for almost two years at that time, what was he able to do?” he quizzed.
The Executive Director of the Environmental Protection Agency indicated Ghana in these times of economic crisis needs solutions rather than promises from Mahama.
“The country is at crossroads. It is solution-oriented, it’s not about promises. We need practical solutions,” he said.
Former President Mahama has promised to restore the licenses of financial institutions that collapsed as part of the banking sector cleanup exercise.
He said the licenses which were revoked unjustly will be restored at his acceptance speech following his victory in the recently ended NDC presidential and parliamentary primaries.
Government in 2017 undertook a banking sector clean-up under the supervision of the Finance Minister, Ken Ofori-Atta.
The exercise saw a reduction in the number of banks from 34 to 23, whilst 347 microfinance institutions, 15 savings and loans, and eight finance houses had their licenses revoked.
A number of the institutions that had the licenses revoked were found to have varying degrees of corporate governance lapses.
ALSO READ:
Full text: Akufo-Addo, Bawumia must start preparing handover notes – Mahama
We’ll speed up investigation into Ahmed Suale’s assassination – Mahama
