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HRH Oscar Yao has blasted the Governor of Bank of Ghana Dr Ernest Addison for turning the Bank of Ghana into a PR machine. He said the Bank of Ghana has turned itself into a mouthpiece of the government trying to engage in a damage control campaign to cover up the mess created by the ongoing brouhaha in the country's financial sector. The Doscar Group Holdings Chairman however cautioned Dr. Addison to stop dragging the integrity of the apex bank in the mud.
In a public post today, he said the bank is rather damaging its institutional independence by joining the finance ministry to engage in desperate PR campaign whereby they reel out fictitious details to the public. He accused them of engaging in face-saving measures after bringing a catastrophic harm on Ghanaians.
Read the full post below..
Breaking: Bank Of Ghana Has Turned Into (A) "PR" Machine And (Information Ministry Annex). See Reasons Below..
As The Effect (Of The) Banking Scandal Is Beginning To Hit Ghana's Economy Hard, (Especially With The Absence Of Credits To Businesses), Pressure (Is Also) Beginning To Mount On The Institutions And The Personnel That Were Used To Cause This Record-Breaking Catastrophic Harm On Ghanaians. The Bank of Ghana, Led By The Empty-Headed Addison Has Launched (A) Public Relations/Damage Control (Campaign), Which Is Rather Damaging Its Institutional Independence; (The Worst) Since Ghana's Independence In1957.
The facts:
1. The Number Of Depositors From The Commercial Banks That Were Destroyed Are Not Up To 4.6 Million As Claimed By DR. Addison And Hon. Ken Ofori-Atta. (It Is Completely False!) The Entire Banking System In Ghana, Including Existing Banks, Do Not Have Depositors Up To Even 4 Million.
2. Bank Of Ghana Also Lied About Their Preparedness To Issue Electronic Currency. It Is False! (Just) PR Gimmicks. I Challenge The Media To Visit Bank Of Ghana Office Premises In Accra Central, Including Their Visitors Car Park And Draw Their Own Conclusion If BOG (Truly) Has The Capabilities In That Regard.
3. BoG Has Also Failed To Account For The Liquid Assets Of The Ghanaian Banks They Unfairly Destroyed Out Of Petty Envy And Jealousy (Spending Over 20 Billion GHS In Doing So). It Doesn't Make Sense. This Action Is Beyond A Witch hunt. Its Pure Wickedness! This Action Affected The Savings & Loans Banks, Micro Finance Banks, Fund Management Companies.
4. All The Fund Management Companies That SEC Revoked Their Licences Were Already Dead Immediately The Commercial Banks Were Taken Down By Ken Ofori-Atta And Co. They Were All Linked To These Collapsed Banks. The Truth!
Addison Should Stop Destroying The Integrity Of The Bank Of Ghana, Which Has Stood The Test Of Time Over Several Decades. Many Governors Have Come And Gone. Addison Too Will Be Gone At Some Point. Therefore, It Is Important To Keep The Institutional Integrity Of BoG Intact, Despite The Recent Misjudged Decision .
The Laws In Ghana Are Crystal Clear. The Bank Of Ghana Cannot Be A Government Mouthpiece. Period!
The Finance Minister, Hon. Ken Ofori-Atta Can Do All The PR And Damage Control Because His Actions Brought Us Where We Are Today.