Foremost businessman, HRH Oscar Yao Doe has countered some of the claims made by President Nana Akufo-Addo while answering questions from the media during a Meet The Press event today in Accra. The Doscar Group Holding chairman specifically disagreed with figures quoted by the president about the current banking scandal in the country. President Akufo-Addo claimed today that only 9 banks were liquidated during the excercise, whereas HRH Oscar listed a total of 11 of such banks, asking the President to check his facts right at the Bank of Ghana. He also disagree with a figure of 4.6 million, quoted by the president as the number of depositors affected by the collapse of the banks. According to the businessman, the total number of these depositors was less than 2 million as claimed by the BoG.
He made all these corrections in a post he tagged 'My Response To President Akufo-Addo's Answers On The Banking Scandal Created By Ken Ofori-Atta, Ernest Addison And Co.". This post was shared on his social media handles.
My First Point: The Number Of Collapsed Banks In Ghana Is Not 9 Mr President. Kindly Check Records From Bank Of Ghana. Your Government Collapsed 11 Commercial Banks Owned By Ghanaians, Namely: Royal Bank, Construction Bank, Sovereign Bank, Beige Bank, UT Bank, Premium Bank, Capital Bank, Unibank, GN Bank, Heritage Bank and Energy Bank.
Second Point: The Number Of Depositors Of The 11 Collapsed Banks Is Not 4.6 Million As Claimed By Mr President. Kindly Check The Records At The Bank Of Ghana, There Were Less Than 2 Million Depositors With Those 11 Banks With Total Deposits Of Less Than 7 Billion Ghana Cedis. And The Total Assets Of The 11 Collapsed Banks Were Above 12 Billion Ghana Cedis. This Is Excluding The Amount The Government Of Ghana Was Owing Those Indigenous Banks.
Third Point: The President Also Failed To Address The GHS 21 Billion Used Earlier For Same Purpose. The Justification For Additional GHS 15.6 Billion Was (Also) Not Addressed. Where Did They Find The Money From? No Breakdown Of Disbursements! It Is Not Accurate. The Decision To Collapse The Banks Was Not Though Through Properly. It Was Made Based On Personal Vendetta And Wickedness, Which Has Backfired On Them.
My Conclusion: It Doesn't Make Sense To Have Used GHS 21 Billion, Plus Additional GHS 15.6 Billion To Collapse Ghanaian-owned Businesses. It's Madness. The US Government, European Commission Made Wise Decisions I 2007/08) /09 To Save Their Banks That Were Going Through Financial Crisis.
It's Not Wise To Give Ghanaian Banks Only One Year To Recapitalize. Developed Countries Such As New Zealand Gave Their Banks (A) Seven Year Period To Recapitalize And Starting From 2020.
Tearing Down Many Ghanaian-owned Banks With Cooked-Up Audit Report By Nii (Deceiver) Dodoo Of KPMG Without Any Third-party Verification, Authentication And Confirmation, Cannot Be Justified By A Press Conference. Time Will Tell.
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