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Speaker to set up 7-member committee to probe collapse of uniBank, UT Bank

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Ernest Gyeduhttps://hypercitigh.com
Ernest Gyedu also known as Fantasma is a Socio economic data analyst who also has knowledge in Geospatial analysis. He is a hardworking goal driven and determind young lad who holds the portfolio of co-founder and managing director of hypercitigh media group.
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The Speaker of Parliament, Alban Bagbin, has proposed the formation of a 7-member committee to probe circumstances that led to the collapse of uniBank and UT Bank.

This followed a petition by former two majority shareholders of the two defunct banks, which were laid on the floor of Parliament by MP for Bawku Central, Mahama Ayariga, on Tuesday, March 23, 2021.

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The shareholders behind the petitions are Prince Kofi Amoabeng and Dr. Kwabena Duffor.

They want Parliament to investigate the conduct of the Central Bank and the Ghana Stock Exchange which led to the revocation of the licenses of the bank’s in 2018.

According to them, the Bank of Ghana disregarded the rules of Administrative Justice guaranteed under Article 23 of the Constitution.

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They want Parliament to ensure the restoration of the banks and also remedy the harm caused to shareholders due to the conduct of BoG, and issue any other directive the House may deem appropriate.

The Committee will constitute four members and three members from the New Patriotic Party( NPP) and the National Democratic Congress (NDC) respectively.

Speaker of Parliament, Rt. Hon. Alban Bagbin, directed the committee to submit a report to the House in the form of a motion for the entire House to debate the petition and urged the leadership of the House to facilitate the formation of the committee.

“Honorable members, the petition is laid accordingly. I refer to the committee this would be constituted by the leadership before we rise and that committee would consider both petitions and report to the House in our next meeting…

“The decision of the House is what the Speaker will go by; I am not a Member of Parliament (MP) and do not participate in decisions. I am to guide the proceedings of the House and make sure there is law and order,” he said.

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Meanwhile, leadership of the Majority and Minority caucuses have up to March 31, 2021, to present names of MPs to be part of the committee.

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