UBA Posts N132b Full Year Profit

United Bank for Africa Plc (UBA) has announced N131.9 billion as its profit before tax in the full-year ended December 31, 2020. The report was released on Monday.

The bank’s total assets also grew by 37 per cent to N7.7 trillion for the year under review.

EXIMTRADEOPTIONS: Olugbemiga Ojo Launches New International Platform For Easy Import/Export Trade

Export and Import Trade in Africa, and of course globally, got a big boost on Thursday February 4, 2021 when Olugbemiga Ojo, an alumnus of the Harvard Law School, gathered stakeholders and intelligentsia at a virtual event, to officially launch the EXIMTRADEOPTIONS by the Lakinberg LLC Firm. It was a virtual gathering of intellectuals with unwavering business sagacity from across the world.

Just U Magazine Honours UT Financial Boss, Adewale Adebajo As Most Outstanding Financial Institution CEO

Just U Magazine has honoured Mr. Adewale Adebajo, the Chief Executive Officer of UT Financial Services Nigeria Limited as the most outstanding CEO of a financial institution.

Ajayi Tajudeen Wins 59th FirstBank Lagos Open Gulf Championship

Ikoyi Club based category-1 amateur golfer, Ajayi Tajudeen has emerged winner of the 59th edition of the FirstBank sponsored Lagos Open Golf Championship. He closed with 1-under par 70 for a total of 7-over the course par to win the Championship by two-shots after 56-holes.

How Billionaire, Harry Akande Caused The Problem That Made Shoprite Want To Run Away From Nigeria

South African-owned retail outlets brand, Shoprite are not just taking a emergency exit from Nigeria, reports have shown. The company, that announced its plan to sell its holdings and pull out of the country few days ago. This was not a decision the South Africans wished to take, but losing a big legal battle to Nigerian Billionaire, Harry Ayoade Akande forced the owners into making the last-minute move to salvage a situation that has gone against them. Here is the story.. 

Any Injustice Against Kofi Amoaben Will Not Stand The Test Of Time -HRH Oscar Doe

Chairman of Doscar Group Holdings, HRH Oscar Yao Doe has expressed solidarity for Mr. Kofi Amoaben, CEO of UT Holdings, who was yesterday arrested and charged for prosecution over alleged complicity in activities that led to the collapse of UT Bank. KingOscar said the arrest and prosecution doesn't mean a judgment of guilt, and encouraged Amoaben to see it as a B

big opportunity to go public to make his case and clear himself. Lamenting how the founder of the defunct UT Bank had been deprived of the rewards of his hardwork of decades, he said Mr. Amoaben tribulations will not stand the test of time.

The renowned businessman however, expressed his confidence in the Ghana police and judicial system to be fair and just in the matter. Read his full statement below.. 

I, His Royal Highness, The Most-Colourful And Decorated Oscar Yao Doe Stand Shoulder To Shoulder With Kofi Amoaben, The Iconic Businessman Who Created UT Holdings From Scratch.

It's Obvious President J.A Kuffuor Will Not Be Pleased To See His Own Party Man, President Akufo-Addo Destroying The Golden Age Of Business,The Property-owning Democracy, Development In Freedom Ideology And Legacy (Achieved By Himself & The NPP).

Mr. Amoaben, The Injustice You Have Been Subjected To Will Not Stand The Test Of Time. I Urge You To Remain Bold And Strong.

History Has Thought Us That This Kind Of Moments Are Nothing One Should Be Afraid Of.., It Is A Big Opportunity Rather For You, Mr Amoaben To Go Public Daily To Make Your Case Louder And Clear.

The Police Institution And The Court System Have Been Around Way Back Before The President, Akufo-Addo Was Even Born. So, It Is Only Posterity That Will Define This  Dark Moments In Our History.

UBA Kicks Off #2020 On A High; Employs 4k New Staff, As Over 5k Staff Staff Get 170% Pay Rise

Over 5,000 staff of the United Bank for Africa (UBA) Plc, @ubagroup started the new year with a lot of cheer as the bank yesterday announced its promotion to new grades as well as salary upgrades with immediate effect this January. 

Those who are beneficiaries of this exercise will receive up to 170% increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.

In a carefully planned restructuring embarked upon by the bank in the last quarter of 2019, #UBA has transformed its grading system and processes to become one of the most competitive within the industry. The bank crashed its grade levels to 12 levels from entry level to the top of the pyramid where previously it had been 16 levels. This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.

In a massive recruitment drive , over 4000 new staff members resumed in the  last week of December 2019 in Nigeria alone at the bank. UBA currently stands as the highest employer of labour amongst Nigerian banks with a staff strength of close to 20,000.

UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the excited employees , noted that UBA is continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation .

Uzoka who spoke to the staff in a bank-wide live broadcast said, “As a leading financial institution, we do not take issues relating to our staff lightly.  We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly".

We Can Find Money For Destruction, But No Money To Build Schools, Roads -Oscar Doe

Hits Prez For Approving GHS15.6b Financial Sector Support Fund For Ofori-Atta

Fowler In Last-Ditch Efforts To Secure 2nd Term As FIRS Boss

-By Sule Imoru

Mr Babatunde Fowler, FIRS boss is reportedly engaged in intense lobbying currently at the Senate and the Presidency to get a fresh appointment. Its five days to the end of his tenure, but President Muhammadu Buhari has shown no sign of renewing his tenure even as investigations show that no fresh request had been sent to the Senate.

As at press time, there had been no letter to the Senate President, Ahmad Lawan, conveying any request from President Buhari regarding Fowler.

Fowler, who is a childhood friend and former classmate of Vice-President Yemi Osinbajo, was appointed as the Chairman of the FIRS on August 20, 2015 but was confirmed by the Senate on December 9, 2015 which means his tenure ends on December 8, 2019.

Fowler disclosed in January that the FIRS under his leadership generated its highest revenue ever in 2018 with a total sum of N5.3tn.

He said the target for the year 2019 was N9tn.

Meanwhile, the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, however said that the President would have the final say. When asked if Fowler could be re-appointed even after the end of his tenure, Shehu said, “It’s the President that will decide when and what happens so we just have to wait.” 

I Believe In You Now: HRH Oscar Says Time Has Vindicated Ex-Prez Mahama

HRH Oscar Yao Doe, has praised former President John Mahama for his perseverance, to have allowed time to judge his administration's performance, despite the campaign of infamy against him while in office. The businessman, who never hid his support for President Nana Akufo-Addo until recently (and even supported his campaign), said it is now obvious that Mahama left an extraordinary example of tolerance, care, compassion, and forgiveness to everyone including opposition members.

In a public post this morning, where he responded to a trending story that quoted Mahama saying he will not lie to Ghanaians like Akufo-Addo (at a campaign), HRH Oscar said he now has every reason to hold the former to his words. Read the post below.. 

Even Though I Have Never Been Excited During Your Presidency, Based On My Personal Views; especially My Support, And Convictions Since 2007 To See Akufo-Addo's Presidency. But It Is Now Obvious That JM, Has Allowed Time To Judge His Administration In Terms Of Comparison To President Akufo-Addo's Era.

At Least, During Prez John Mahama's Era, Businesses Were Not Destroyed Or Teared  Down Because The Owners Have Shortcomings Or Having Financial Problems, Or (Because) They Belong To Other Side Of The Political Divide.

President Mahama Gave A Lot Of Help And Opportunities To Businesses, Even Though Some Of Their Owners Abused The Privileges Given To Them. Including The Famous Akonfem Flying To Burkina Faso That Created Bad Image For Prez Mahama. He Was Portrayed As Super Incompetent, He Was Portrayed As Extremely Corrupt. He Was Portrayed As Not Fit To Be President. But Time Has Vindicated H.E John Dramani Mahama Based On His Kind-Hearted And Good Intentions For Ghana. I Believe In Actions, Decisions And The Results They Produce. It's Always In Our Collective Interest To Live In Harmony.

(There Is) No Doubt In My Mind (That) President Mahama Set Extraordinary Example Of Tolerance, Care, Compassion, And Show Of Forgiveness To Everyone Including Opposition Members. 

He Created Pure (An) Atmosphere Of Freedom Of Speech And That Paved Way For OccupyGhana And Other Groups To Express Themselves Freely Without Fear Of Arrest. Kudos JM. 

- Written By HRH OSCAR YAO DOE

Economic Challenges: Akufo-Addo Govt Created Unnecessary Stress For Ghana Through Ken Ofori-Atta, Ernest Addison And Co -HRH Oscar

Chairman of Doscar Group Holdings, HRH Oscar Yao Doe has attributed the current economic challenges Ghanaians are faced with to the unnecessary stress brought on the financial sector by the Akufo-Addo administration through the recent banking scandal, which he had repeatedly described as lacking good intentions. For the umpteenth time, he lampooned the minister of finance, Hon Ken Ofori-Atta and the Governor of the Bank of Ghana, Dr Ernest Addison for bringing sad moments to Ghana.

In a new public post this morning, he questioned yet again, why the government would spend billions of dollars on a purported reform process that has left the country in pains rather than gains.

Read his post in full below.. 

Make Your Own Calculation.. Good Intention Is Always Key For Our Collective Success. Wicked Intentions Always Come Back To Hurt Our Collective Success. The Akufo-Addo Government Has Created Unnecessary Stress For Our Financial Sector Through The Arrogant Ken Ofori-Atta, The Empty-Headed Ernest Addison & Co.

Sad Moment For Ghana. The Truth!

I Care About Ghana A Lot. That's Why I Contributed My Quota By Building Many Schools And Supporting Many People Up To University Education With My Own Small Hustling. (Its Because) I Care.

This Is Not What Is Expected From These So-Called Well-Educated Guys. It Doesn't Make Sense To Spend Soo Much Money (Billions Of Dollars) Just To Destroy Ghanaian-Owned Banks And Businesses. (Why Not Give Them) A Bailout???

The Akufo-Addo Government, Through Ken Ofori-Atta Refused To Pay Ghana Government Contractors Loans Owed To The Banks, Which Could Have Helped Them To Improve Their Cash Inflows. And Yet, This Same Government Declared (The Banks) "Insolvent", So They Revoked Their Licenses, And They Have Been Taken Over By The Ghana Government.

So, Their (The Bank Owners) Hardwork  Is Now Zero! Their Properties And Their Banks' Assets Are Now For The Government Of Ghana. Just Like That?

These Actions Are Perhaps A Witccraft??? Sad Moments For Ghana. Unbelievable! 

Oscar Doe Questions Sincerity Of Akufo-Addo Govt Over New $600m Bauxite Deal Money After Lavishing 21b GHS On Failed Banking Reform

Chairman of Doscar Group Holdings, HRH Oscar Yao Doe has queried the sincerity of the Prez Nana Akufo-Addo-led administration over the $600m funds recently released for the Bauxite deal Ghana government had with the Chinese government. Having failed in rescuing a lot of Ghanaian-owned banks and other financial institutions, after spending over 21 billion GHS on a controversial reform process, the businessman said there could not be any justification for the money just released by the Chinese. He cited past experience as reason for his conclusions in his post this afternoon. 

Read his post below... 

In 2007/08, The US Government Initiated A Move, Through The US Congress (Parliament) To Bailout Their Banks And Saved Them From Collapse. The European Commission Followed Suit Immediately And Also Created New Laws To Pave Way To Bailout Their Banks. According To Recent Data, All The Bailout Funds Have Been Paid Back To The Respective Governments By The Banks. 

But In Ghana, Hon. Ken Ofori-Atta (Mr. Know It All), the Bank Of Ghana, Led By Ernest Addison (Mr. Zero Reasoning), SEC; Led By Remote  Control, (And) Unfortunately, Under The Leadership Of President Akufo-Add, (Who Holds Degrees In Promise) Wasted Ghanaian Tax Payers' Money (Over 21 Billion Ghana Cedis Based On Data Available At The Moment) To Destroy The Financial Sector In Ghana , (Rather Than) Saving These Marquee Businesses Owned By Ghanaians.

Now, We Are Told They Have Received 600 Million Dollars Advance Payment Out Of The 2 Billion US Dollars They Borrow  From The Chinese Government To Destroy Atiwa Forest. (Ghana's Bauxite Was Used As Barter For That Transaction).

Has Ghana Been Cursed? Or (Is It Just That) We Lack Larger-Than-Life Leaders? Or (Because) Our Leaders Are Masters Of Self-Enrichment Skills?

Ken Ofori-Atta Went to Yale University to Learn Wickedness, His Actions Haunting Prez Akuffo-Addo -HRH Oscar Doe

-Says 'Support For Nana Is Getting Softer Everyday

As the countdown to the next elections are drawing near, City Bizman, HRH Oscar Yao Doe has said that support for President Nana Akuffo-Addo is getting softer every day, no thanks to the handwork of some key men in his administration who did irreparable damage to the soul of Ghana's economy. He also said that lamentations from some key members of the ruling NPP over the consequences of the actions of these key government officials on the president's chances in the elections, may have been coming a little too late. KingOscar even threatened that most of Prez Akuffo-Addo's bankrollers may campaign against him at the polls because of his supposed laziness in checking the excesses of some government officials, his cousins and their advisors.

He was reacting, in his post this morning, to a report that quoted outspoken Member of Parliament for Assin Central, Hon. Kennedy Ohene Agyapong firing the Bank of Ghana Governor, Ernest Addison for not taking into account the interest of the ruling New Patriotic Party  (NPP) in his line of work at the Central Bank and yet expects ‘others’ to campaign to win 2020 for him to continue in office.

He was reacting to news of procurement irregularities in the selection of Bank of Ghana receivers, saying the receivers were handpicked, instead of a competitive bidding process which would have ensured that the country got value for money and catering for NPP interest.

As he had usually done recently, HRH fired the minister of finance, Ken Ofori-Atta and Governor of the Bank of Ghana, Dr Ernest Addison in his post for their roles in the banking industry saga. He said Ofori-Atta is a genius whl went to Yale University to 'learn wickedness'. And this wickedness, may cost President Akuffo-Addo's  campaign in the election, he said. 

Read his full post below... 

Seems This Message Is Too Late Coming! The Empty-Headed, Governor' Revocation' Ernest Addison And Hon. Ken 'Wicked Genius' Ofori-Attah Has Already Done Irreparable Damage To The Soul Of Ghana's Economy. Hurting Many Families. 

They Have Unfairly Destroyed Many Ghanaian-Owned Businesses Without Any Common Sense Justification.

The Wicked Ken Ofori-Atta Went To Yale University To Learn Wickedness. And Empty-Headed Addison Obtained PhD For Zero Reasoning. Our Support For President Akuffo-'I Don't Care-Addo Is Getting Softer Everyday! 

Who Knows Its Even Likely Most Of His Own Bankrollers,  Including Myself And Supporters May Even Campaign Against Him? Which I Think Will Be In Order, Based  On The President's Laziness To Care, And The Attitude Of His Cousins, Government Officials And Cousins' Advisors.

Guide Yourself With Recent History: HRH Oscar Warns Commercial Banks Denying Private Sector Lending

Reputable businessman, Oscar Yao Doe has sent a loud warning to commercial banks in Ghana who are currently declining the private sector of credit facilities in favour of the public sector to be wary of the kind of trap banks that recently went insolvent were pushed into. The Doscar Group Holdings Chairman in a short public post this afternoon was reacting to a news story by Ghanaweb which quoted a Bank of Ghana’s Banking Sector Report. 

Ghanaweb reported that Commercial banks in the country are beginning to favour lending to the public sector rather than the private sector, according to the Bank of Ghana’s Banking Sector Report. 

According to the report, the share of private sector credit in total advances made by banks in the eight months of the year declined while loans to the public sector inched up.

He warned the banks to learn from the refusal to pay the debts owed some of the recently proscribed banks by the government, which formed a major part of the problems that led to their collapse. 

HRH Doe in the post, also sarcastically knocked the men that oversaw the recent reforms in the banking sector that had been greeted with mixed reactions; Ken Ofori-Atta, Ernest Addison and Nii Amanor-Dodoo.

He wrote... 

Breaking News: GHANA Is Now Declared A Government-Owned And Controlled Economy!

Major Business Activities Are Now In The Hands Of Government-Owned Institutions. Congratulations To HON.Ken '14 BILLION GHS' Ofori-Attah, Empty-Headed 'Governor Revocation' Ernest Addison, Nii 'Butcher, Deceiver' Amanor-Dodoo under The Supervision Of Our Own Uncle, President Akuffo-I Don't Care-Addo.

(I Have A) Warning To These Banks Focusing Their Loan Portfolio's On Government Institutions. Remember Ken Ofori-Atta And Co Refused To Pay The Debts That Government Of Ghana Owed To Ghanaian Banks Through Local Contractors. And Yet, They Used That As An Excuse (Insolvent) To Destroy Our Ghanaian-Owned Banks.

Be Careful, Government Debts Are Not Guaranteed In Ghana! Guide Yourselves With Recent History. 

Banking Scandals: Parliament Should Investigate 14bn Spent By Ken Ofori-Attah And Co. - Oscar Doe

HRH Oscar Yao Doe has called on the Ghana Parliament to step into the ongoing banking industry scandals, urging them to particularly investigate how the finance minister and his team who oversaw the recent reforms in the banking sector, spent a whoping 14 billion GHS in that process that led to the collapse of indigenous banks and hundreds of financial institutions. He said stepping into the matter will show whether the parliament truly cares about the country.

In his latest public post, finance minister, Hon. ken ofori Attah received more strong words from the Doscar Group Holdings chairman. KingOscar described Ofori-Attah As A Very Wicked Man With Zero Compassion.

He wrote..

I Used To Believe This Guy, Hon. Ken Ofori-Atta Was A Financial Guru (And A) Genius And That Whenever President Akuffo-Addo Gets The Chance To Become President, He Will Perform. But Wow! Wow!! Wow!!!
(Now I know) Hon. Ken Ofori-Atta Is A Disaster And A Failure; (He Is The) Finance Minister  Who Has Supervised The Worst Destructive Policy In Ghana's History! (He Has) Zero Compassion, (He Is A) Very Wicked Man And The History Books' Scorecard Of Ghana Will Capture Him As Such. (He Is A) Very Arrogant 'Mr Know It All'. I Am Sure He Is  At Peace Now After Destroying So  Many Ghanaian-Owned Businesses. Ayekoo! Ghana's Well-To-Do Business Icons Were Taken To The Buthers And Killed Off Just Like That. Congratulations Mr Disaster!
SEE BELOW:
14 Billion GHS Spent In Ghana Under The Leadership Of President Akuffo Addo To Kill Off Ghanaian Owned Businesses. My Goodness! (This Is) Empty-Headedness And Empty Ego(Vendetta) At Its Best. Please Give Us A Breakdown On How The 14 Billion GHS Was Spent. The Largest Ghana Social Security Institution (SSNIT) Has Total Investment Assets Valued At 9.6 Billion Ghana Cedis, And Yet The Akuffo-Addo Administration Found 14 Billion GHS And  Used  It To Destry Many Ghanaian-Owned Businesses.
Parliament Should Take Over This Matter If (They) Truly Care About Ghana And Get To The Bottom Of It.
How Do You Spend Such Amount Only To Destroy Your Own People? I Thought These Guys Were Brilliant, But Not At All. (But) They Are Just Mere School-Goers (Who Only) Obtain Certificates And Speak Big Grammar! End Of Story!

'Tell Ghanaians How You Spent 14bn On Banking Sector Cleansing' -Oscar Doe Tells Ken Ofori-Atta, Ernest Addison, Nii Dodoo & Osei Gyasi

The chairman of Doscar Group Holdings, Oscar Yao Doe has called out the Finance Minister, Ken Ofori Atta, the Governor of the Bank of Ghana, Ernest Addison, a former Senior Partner at KPMG, Nii Amanor-Dodoo and Ose Gyasi, the head of Banking Supervision at the Bank of Ghana (BoG) to give account of the whoping 14 Billion GHS they purportedly spent on 'cleansing the Ghana banking sector.

In his public post this morning, oscar described as a wrong decision with evil intentions, the spending of such huge resources to achieve the collapse of 11 Ghanaian-owned Banks, over 300 Savings And Loans banks and Microfinance companies. He once again quried why such amount was rather notspent on bailouts, to save the institutions from collapse, as done in developed economies like the US and Europe.

Read his post below..

"Breaking News: The Four WIse Men In Ghana?! History Scorecard: These 4: Hon. Ken Ofori-Atta, Gov. Ernest Addison, Nii 'Deceiiver,Amanor-Dodoo And Osei Gyasi Said They Have Spent 14 Billion Ghana Cedis (Of) Tax Payers' Money To Destroy 11 Ghanaian Banks, Over 300 Savings And Loans Banks And Microfinance Companies. CONGRATULATIONS To Them. They Are Extremely Wise Men! They Are Very Smart Thinkers!

In 2007/08, The US Government Intervened To Save Their Banks Through Government-Initiated Bailouts. The Effect Of The US Banking Crisis Spilled Over To Europe, And The European Commission Responded Swiftly By Creating Laws Within Their Own Strigent Laws To Pave Way For European Countries To Bailout Their Local Banks. They Did Exactly That.

What Stopped These 4 Men (Ken Ofori-Atta, Ernest Addison, Nii 'Deceiver'-Dodoo & Osei Gyasi) From Paying Government Of Ghana Contractors Debts Owed To The Ghanaian Banks At The Time? Who Stopped These Wise Men From Helping Our Own Indigenous Businesses To Survive Any Challenges They May Have Been Going Through? Is The Destruction The Only Option? Bold NO! NO!! NO!!!.

The News Could Have Been That We Spent 3 Or 4 Billion Ghana Cedis To Bailout (Save) Our Ghanaian Banks. But Instead, We Are Told 14 Billion GHS Has Been Spent To Cleanse The Banking System In Ghana? In Their Own Grammar! Really? Time Will Tell.

Please Give (Us The) Breakdown To The Nation How The 14 Billion GHS Was Spent? You Have An Obligation To Give Accounts To The Ghanaian People, If You Believe Strongly It's The Truth.

Using 14 Billion GHS To Kill Dreams And Aspirations Is Madness And Unwise. (It Is A) Wrong Decision (With) Evil Intentions.

While Ghana Govt. Is Killing Indigenous Businesses, UAE Is Giving Aids To Rescue Its Troubled Local Coys - Oscar Doe

-Doscar Group Chairman Asks Finance Ministry, BoG To Give Account Of 14bn GHS Spent On Banking Sector

Reacting to a story from Dubai yesterday, HRH Oscar Yao Doe has compared the fortunes of the country and Ghana,  concluding that unless his country adopted pragmatic and well-thought-out solutions to very critical issues like the ongoing banking scandals, Ghana can never match the prosperity of the Arabian country. In the said story, the UAE Central Bank confirms move to control real estate exposures in the banking sector.

The Central Bank of the UAE has released for consultation proposed new regulations to better control real estate exposures in the banking industry. It said in a statement that the primary objective of the proposed framework is to enhance financial stability by redesigning regulatory measures.

The refined measures are expected to improve flexibility for bank lending to the real estate sector, while ensuring that banks with higher real estate exposures, above a set threshold, will be subject to supplemental regulatory requirements.

"This Is How You Create The Enabling Business Environment For A Country To Prosper", the Doscar Group Chairman said in his public post.

He also challenged the finance ministry and Bank of Ghana to give a breakdown of how 14 Billion Ghana Cedis was purportedly spent on the ongoing banking situation in the country. 

Read the full article below... 

But In Ghana From 2014 - 2018 Many Ghanaian-Owned Banks Were Exposed To Ghana Government Contracts' Debts. Guess What? HON. Ken Ofori-Atta And Co. Refused To Honour Those Debt Obligations To The Local Banks, Which Could Have Helped Them Improve Their Cash (Liquidity) Positions. And Then, Government Should Have Followed Up Immediately With Bailouts To Give Them (The Banks) The Needed Relief, Especially (Where) Those Payments Were Still Not Enough To Shore Up Their Liquidity Strength. And After That, (The Government Can Now) Initiate Tighter And Tougher Regulations, Including Assigning Government Policing The CEOs Of All The Affected Banks Till They Pay Every Dime Back Into Government Covers.

This Exercise Could Have Cost Less Than 3 Billion Ghana Cedis, Saved Many Jobs, Protect The Unnecessary Spill Over To The Savings & Loans And Micro Finance Companies. This Could Have Been The Smartest Way Out, Assuming The Decision Was Made Based On National Interests.

But Now, We Are Told Up To 14 Billion Ghana Cedis Has Been Spent On The Banking Situation. Really? For Real? Wow! Answers Are Needed! 

1. Where Did Government Find The 14 Billion Ghana Cedis From? Who Is Going To Be Responsible For That Money?

2. What Exactly Was The 14 Billion Ghana Cedis Used For?

3. The Finance Ministry And Bank Of Ghana Owe It A Duty To The Ghanaian People To Give A Breakdown Of How The 14 Billion Ghana Cedis Was Spent If They (This Government) Truly Believe In Transparency!

4. Is The IMF, World Bank, Etc Aware Of This 14 Billion Ghana Cedis Story? What A Mess! 

(In My Conclusion), My Question Is Are We Saying We Used 14 Billion Ghana Cedis To Destroy Our Own Indigenous Banks? Or It's Just A Movie? WHATy Sense Does It Make To Spend Such Huge Amount To Destroy Ghana-Owned Banks. It Doesn't Make Any Sense At All.

(Should) We Be Saying Oh, We Used 4 Billion GHS, Or 5 Billion GHS To Bailout Our Ghanaian-Owned Banks To Avoid Job Losses, (With The Grace) That They Will Pay Back To Government Coffers, That Would Have Made Sense!

(Just Imagine) The Actions Of Our Well-educated Degree Holders! Asem Be Ba Da Bi. 

History Will Remember Ex-Prez Kuffour For Creating The Golden Age That Produced Dollar-Millionaires In Ghana -Oscar Doe

-But Doscar Boss Says Ernest Addison Will Be Remembered For Allowing Himself To Be Used To Tear Down Successful Enterprenuers

No one has been more critical of Dr. Ernest Addison, the Governor of the Bank of Ghana recently than HRH, Oscar Yao Doe, the Chairman of Doscar Group Holdings. The businessman has been a major critic of the present government in Ghana for looking the other way while some individuals are using state power to settle scores with indigenous business owners who are not in their good books. His particular worry has been over the ongoing scandals rocking the financial sector in the country, which he had always warned, may lead the country into a sorry state. 

While recalling the golden era in the history of Ghana's economy (as created by the administration of former president Kuffour), which saw the emergence of many millionaires, including himself in 2004, HRH Doe believes, history would not be friendly with Addison for the roles he played in the ongoing banking scandal. 

He said these in his latest public post, this morning. Read it below... 

When Did Ghana Get Here? Are We Saying Selection Of People To Chair Committees Has Now Become A Huge Life-changing Situation? Are We Saying Selecting Someone Into A Mere Committee Has Become (Something) That Is Going To Bring Money To Ghana? Or (Something That) Is Going To Change Ghana's Economic Fortunes? My Goodness! 

The 'Empty-Headed' Addison Will Go Down In History As The Man Who Was Used By The Baby-Idiots (Goro Boys & Kelebe Boys) To Tear Down Ghana's Most Successful Entrepreneurs. 

Ghana's Finest Successful Personalities And Families Were Crucified With 1950s' Outdated Laws, With Evil Intentions To Satisfy Personal Vendetta.

They Should Give Us A Break, My Friends! There Is No Big Deal For Someone To Serve In A Committee. (There Is) Nothing Special About It! It's A Normal Routine. 

History Will Rather Consider President J.A Kuffour As The Man Who Opened Ghana's Banking Space; The Man Who Created The Golden Age Of Business Atmosphere That Produced Many Dollar Millionaires, Including Myself (Because Through H.E Kuffour's Policies From 2001, I Also Became A Dollar Millionaire In 2004). 

PREZ Akuffo-Addo Own History Has Also Been Created. 

PREZ Kuffour's Tenure Is What You Can Easily Called The 'Wow Wow Wow' Moment. It was Not The (Era Of) Selection Of Empty-headed Degree Holders Into (Even) A Mere Committees (Like We Have Today). 

Ghanaians, Let's Open Our Eyes And Focus On Things That Matters Most For Ourselves, And Upcoming Generations. We Are In It Together!

The Next 10 Years Will Be Very Interesting. What Goes Around Comes Around!

I Cannot Imagine What The Judgement Will Be In The Future When The Evils That Was Done To Our Best Businessmen And Women In Recent Years Is Evaluated. Time Is Everything. Political Power Is Not Guaranteed For Life. It is Also Not A Lifetime Collateral (For) Protection, History Has Thought Us.

HRH Oscar Doe Pens Thought-Provoking Open Letter To President Akuffo-Addo

-Warns Against State-Controlled Economy

-Advises Prez To Focus On Rescuing Troubled Ghanaian Businesses 

The chairman of Doscar Group Holdings, Oscar Yao Doe has written an open letter to President Nana Akuffo-Addo over the ongoing banking scandal in Ghana. In the thought-provoking open letter, where he advised the Akuffo-Addo administration against the idea of state-controlled economy, KingOscar urged the president to act decisively and urgently to see to the rescue of troubled businesses in the country, while ensuring that the ones that have been taken over are returned to their original owners.

Read the post below... 

Open Letter To The President Of The Republic OF Ghana, H.E Nana Akuffo-Addo @nakufoaddo

Greetings Mr President,

It Seems We Are Encouraging And Perhaps Deepening The Era Of State-Controlled Economy. Even Though It's Not A Bad Idea To Strengthen State-owned Companies, But The Question Is Can They Stand The Test Of Time Under Your Successors?

The Only Few Big Companies In Ghana Today Are All Government-owned. This Is Alarming Because There Is No Guarantee That Your Successors Will Follow Your Direction. 

Mr President Recently The Financial Sector Was Added To This State-owned Company Syndrome In 2017/18. Many Ghanaian-Owned Banks Were Taken Away And (Were) Turned Into State-owned Banks; Namely:Consolidated Bank Ghana (CBG), State-Owned GCB Also Benefited.

After Ghana Government Took Away Those Banks From Their Original Owners, Are We Saying The Owners Should Go Empty-handed To Die? Something Must Be Done.

The State Is Now The  Sole (100%) Owner/ Shareholder Of Consolidated Bank Ghana (CBG), So, It's Okay? (Is That The) End Of Story?

Mr President, Consider The Business-Owners Who Work Harder Through Many Years Of Sacrifices To Build Those Companies. They Deserve Compassion.

Mr President, Please In Case Your Successors Decided To Return All Those Banks Back To Their Original Ghanaian Owners The Day After He Or She Is Sworn In? What Will Be Your Take?

In Case Your Successors Decided To Sell All State-owned Companies And Businesses To Ghanaians? What Will Your Take On That Be?

In Case Your Successors Decided To Payout Heavy Compensation From State Coffers To All The Affected Ghanaian-Owned Banks And Businesses That Were Forced To Collapse, What Will Be Your Take On That too?

In Case Your Successors Decided To Prosecute All The Officials Who Were Involved In The Decision-Making Leading To The Collapse Of Those Banks, What Will Be Your Take On That As Well?

Mr President, I Strongly Believe The Above Scenarios Are Very Likely.

Mr President If There Is A Way Out To Grant Compassion, Forgiveness, And Return All Those Banks Back To Their Original Owners (Regardless), That Would Be Awesome And Decisive. It's Doable! Your Decision To Act Is What Matters, (As) History Has Taught Us.

Banking Scandal: HRH Oscar Doe Accuses Osei Gyasi Of Being One Of The Architects Of The Crisis

The chairman of Doscar Group Holdings, HRH Oscar Yao Doe has called out the Head of Banking Supervision at the Bank of Ghana, Osei Gyasi, adding him to the list of individuals that needed to be questioned over the ongoing banking crisis in Ghana. The multimillionaire businessman was chronic of Mr Osei Gyasi who he said he used to take for a brilliant person until he had course to deal with his office at BoG. HRH Doe Believes Gyasi is one of the architects of the on-going crisis.  

He said all these in a latest public post. Before now, the philanthropist has been critical of the persons of the finance minister, Ken Ofori-Atta, the Governor of the Bank of Ghana, Dr Ernest Addison and Nii Amanor Dodoo, a former principal at KPMG Ghana, alleging them of complicity in the process that led to the collapse of some indigenous financial institutions and local companies in the country recently. Read the post in full below.... 

"I Thought This Gentleman, Osei Gyasi (Head Of Banking Supervision, Bank of Ghana) Was Brilliant, Till I Dealt With His Office. He Is Part Of The Problem. 

The Question Is Which Criteria Do We Use In Ghana To Appoint People Into Very Important Portfolios? Is It Masters Degree. Is IT Ph.D?

Or (Just) Chairing Committees And Doing Some Feasibility Studies?

I Suppose This Is The Criteria.. Any Person (To Be Considered For Public Portfolios) Must Have Demonstrated Or Proved Personal Achievements Either In The Public Or Private Sector Before A High Profile Portfolio Can Be Given To Handle Because The Ability To Make Very Critical Decisions Within A Moment Is (Very) Key. And Most Importantly, The Ability To Make Decisions Based On Fairness And Open Mindedness Is Extremely Essential.

With All Due Respect To His Family,  I Score Mr Osei Gyasi A Zero In Terms Of Performance! I Think He Is Just There Doing 'Yes Sir Master (A Yesman Job). Because, It Took 4 Beautiful Months To Respond To A Letter Which Is Bringing Money To The State. Meanwhile, Too Much Nonsense Of Noise Was Going Via The Media Through The Bank Of Ghana Publications "We Are Protecting Depositors' Money", We Are Cleaning The Banking Sector", The Recovery Process Is Slow", This And That! Yet, Pure Deception. Time Will Tell".