Some staff of the collapsed banks have taken to social media to share bitter life experiences after the shut down of their financial institutions by the Bank of Ghana.
According to one of them, a former staff of the Darkuman branch of now-defunct Unibank, Johnson Kwarteng Addo, it has been difficult to provide for his dependents since government collapsed the firms.
“As a permanent staff of Unibank. My Net salary was gh6,700 a month, I had good allowances. I had 6 dependents. I was able to take care of them by Gods grace. I had 2 cars and was building my house. Life was ok for me. Until NPP came to power and forcibly collapsed the bank and now here I am, jobless, frustrated, depressed.
“I sold my cars. My building project stalled. More painful is my dependents looking up to me, and I can no longer help. What wrong did do? My thumb misbehaved in December 2016. I campaigned for Npp in 2016. My friends use that to mock me till date. Well, I, together with my dependents will be doing ‘correction’ in December this year,” he wrote on Facebook.
The Bank of Ghana (BoG) in 2017 shut down some local banks for varried reasons.
While some banks had their licences revoked, others have been merged for their inability to raise the new 400 million-cedi minimum capital requirement as of December 31, 2018.
For other banks, the central bank revealed acquired their licences fraudulently and through the use of non-existent capital.
The five collapsed banks included Unibank Ghana Ltd, The Royal Bank LTD, Beige Bank LTD, Sovereign Bank LTD, and Construction Bank LTD The same reason of insolvency was cited as a cause of the collapse of the various banks. Within a span of two years, about seven indigenous banks have collapsed.