Why Ofori-Atta’s Data Bank Was Protected During Banking Sector Cleanup – Dr Amoah Reveals

Businessman Dr. Kofi Amoah has opened up on why Finance Minister, Ken Ofori-Atta’s Data bank was saved during the infamous banking sector cleanup.

It would be recalled that the banking and financial sector clean up started by the government somewhere in August 2017.

A total of nine universal banks, 347 microfinance companies, 39 microcredit companies or moneylenders, 15 savings and loans companies, eight finance house companies, and two non-bank financial institutions were caught in the collapse.

The Securities and Exchange Commission also announced the revocation of licenses of 53 Fund Management Companies.

They were said to have engaged numerous degrees of corporate governance lapses.

The total estimated cost of the state’s fiscal intervention, excluding interest payments, from 2017 to 2019 was pegged at GHS16.4 billion.

The crisis left some clients in distress, as many of the customers have been struggling to retrieve their savings and investments.

Also, several workers in financial institutions were also laid off as a result.

Dr. Kofi Amoah who was commenting on the Finance Minister’s claim that only Jesus can tell if he’s happy with his work as Finance Minister asked whether Jesus liquidated the local banks.

He further alleged that Data Bank was saved to siphon huge commissions from loans contracted by the Ghana government.

“Honorable” Ofori Atta, one simple question:

Did Jesus tell you to liquidate ghanaian-owned banks built with hard work n sacrifices, whilst saving your own Databank to be used in siphoning commissions from the huge loans you contracted for Gh, which have now sent us to the IMF?”

Source: PakMediaGh