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Gov’t rubbishes suggestions it deliberately collapsed financial institutions

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Gov’t rubbishes suggestions it deliberately collapsed financial institutions

The government has rubbished suggestions that some of the financial institutions were deliberately collapsed by the state.

The Bank of Ghana on Friday announced the revocation of licenses of 15 insolvent savings and loans companies and eight finance houses.

But the move has been criticised.

Speaking at a news conference in Accra, the Information Minister, Kojo Oppong Nkrumah, said such arguments against the revocation of licenses are incoherent.

He reminded that the government placed a premium on job creation.

“This is an administration that is promising jobs and incomes for people. Why would such an administration be interested in deliberately closing down people’s businesses when it knows that in the end, it will have to answer for how many jobs that have been created or the net addition of jobs? It is not a coherent argument.”

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The minister also said sanitising the banking sector was a priority and that the “government will continue to provide funding to the Bank of Ghana to take action in that space.”

“This is how to resolve these matters. This is how-to protect the deposits of over one million Ghanaians and over Ghc 12 billion that has gone in there.”

Mr Oppong Nkrumah also acknowledged the potential job losses in the sector.

The Ghana Association of Savings and Loans Companies (GHASALC) estimates that some 2,000 employees of the 15 Savings and Loans Companies whose licenses were revoked by the Bank of Ghana will lose their jobs.

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Despite the expected losses, the minister assured that the government will continue with efforts towards job creation.

“For us, our answer as an administration is to ensure that we have a lot more growth and expansion in the broader Ghanaian economy so that all classes of persons who are unemployed will get jobs in the various aspects of the economy as it opens up.”

Previous action from the BoG to sanitise the banking, specialised deposit-taking institutions (SDI) and non-bank financial institutions (NBFI) sectors saw the licences of nine universal banks, 347 micro-finance companies, 39 microcredit companies or money lenders and two non-bank financial institutions revoked.

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Source: citinewsroom.com

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Politics

President Resigns As His New Wife Kills First Wife to Become First Lady of Lesotho

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On June 14, 2014, just two days after her husband was sworn in as Prime Minister of Lesotho, Lipolelo Thabane was killed by gunmen outside her home near Maseru, the capital of Lesotho.

In his inaugural address, Mr. Thabane described the death of Lipolelo, his first wife as “senseless”. Yet in recent weeks belated efforts to get to the bottom of the killing have plunged one of the world’s smallest countries into chaos as it evidence point to his new wife, Maesaiah Thabane of killing her senior wife to take her place as the first lady of Lesotho.

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Prior to all these, there have been rumours of violent chicanery that have long haunted the first family. Mr. Thabane’s daughter from his first marriage has alleged that Maesaiah, wife number three, had a hand in the death of Lipolelo, wife number two.

First Lady missing

A warrant of arrest of was issued for 42-year-old Maesaiah Thabane on 10 January after she failed to present herself to the police for questioning.

She has not been seen publicly for two weeks and no-one seems to know where she is, well no-one willing to talk that is.

Mr Thabane, who is still in the country, has avoided any questions about his wife’s whereabouts.

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The supposed motive: Maesaiah wanted to be the official first lady but was being blocked by the high court, which is 2015 ruled that Lipolelo would retain that role until she divorced Mr. Thabane, a process she was drawing out in order to keep the perks of office.

Also, Mr Thabane has accused his daughter of trying to topple him so as to help her husband, another politician.

Source: Felix G

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Politics

Sammy Gyamfi Arrested By Ghana Police After TV Discussion

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The National Communications Officer for the National Democratic Congress (NDC), Sammy Gyamfi has been arrested by the Criminal Investigations Department of the Ghana Police.

The “arrest” occurred minutes after he participated in a live studio discussion on UTV‘s “Adekye Nsroma” morning show.

The NDC National Communications Officer was whisked away by some plain-clothed security officers in a white unmarked pick-up vehicle with license plate VR 4870 – 12.

Just as the outspoken NDC stalwart was making his way to board his vehicle after the show had ended, the CID officers suddenly surfaced, produced a warrant and in a flash, picked him away.

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It is still, however, unclear what precipitated the action by the security officers.

ENewsGhana.com understands Sammy Gyamfi is currently at the CID Headquarters in Accra awaiting investigation.

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“Nana Addo is Ghana’s Worst President Ever; He Should Have Resigned By Now” – Bulldog

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Bulldog has rated Ghana’s sitting President, H.E Nana Addo Dankwa Akufo-Addo, as the worst the country has ever had in history.

The controversial artiste manager and showbiz pundit opined this during a talk show on 3 FM yesterday.

According to tom him, the President should have even resigned by now for failing to perform up to the task and the expectation he gave Ghanaians.

We all most politicians are liars but Akufo-Addo seemed or looked like he was going to be different. When he started his campaign and was talking and talking, you know, he is the worst president ever,” he said whilst speaking on 3FM.

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During the interview hosted by MzGee, Bulldog added that the President must even resign by now with his Vice, Dr Bawumia, behind bars, for once donating expired products to people in the Nothern part of Ghana.

He and his hypeman Bawumia … that’s his hypeman which vice? What job does he do? This is a man who should be behind bars. They went to the North to go and share food that has expired to people,” he said.

Watch the full video below;

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