Hon. Kwabena Mintah Akandoh, Ranking Member - Parliament Select Committee on Health

Member of Parliament for Juaboso Constituency in the Western region, Kwabena Mintah Akandoh, says the government’s decision to revoke the licenses of some banks and financial institutions is a deliberate attempt to collapse businesses.

According to him, the incumbent government’s way of handling the financial sector is strictly partisan.

SEE THIS: Audio: Man who abused 6-yr-old heads for court

“This initiative is a deliberate attempt to collapse some people’s businesses, especially when I’ve watched ‘Good Evening Ghana’ where some financial institution owners have said that the present day Finance Minister has come to their finance institution to buy them, and has amazingly closed their business a year after,” he said on UTV, monitored by Adomonline.com.

He said if the revocation is truly in the interest of the depositor then the incumbent government doesn’t have the interest of the citizens at heart.

ALSO READ: KNUST ranked best University in West Africa

“If a government is taking an initiative like this the first people they should have in mind is the depositors which are the citizens so whether or not you will close down any financial institution ask yourself how the depositor will get his or her money when it is   shut down.

“How is it in the interest of the depositors if they don’t know whether they will receive their monies or not?” he quizzed.