Former Member of Parliament for Ablekuma Central, Theophilus Chaie Tetteh says the Central Bank is responsible for the collapse of financial institutions in the country.

According to him, Ghanaians have lost confidence in the banking sector as a result of recent happenings.

He says the developments will only collapse the banking sector if care is not taken to salvage what he describes as a mess in the sector.


I blame BOG for all this mess happening in the banking sector. I see the banking sector collapsing because Ghanaians have lost confidence in the sector. People will be scared to go to a bank and deposit their monies. People will soon save under their beds because that will be even safer for them,” he said.

Mr Chaie Tetteh was speaking on Adom FM’s Morning show Dwaso Nsem Thursday.

The governor of the BOG, Dr Addison has cited the “streamlining of the banking sector” as the reason for the recent actions taken to close down some banks.


However, Chaie believes the Bank of Ghana, just like the government, has been very dishonest with the people of Ghana.

He noted that the BOG officials who will be implicated in the issuance of the fraudulent licenses to these banks should be arrested and put before court.

By now, the security agencies should be working and arresting guilty officials because they have benefited from the mess they have created,” he noted.