Business

Put In Place Effective Measures To Forestall Collapsed Banks Recurrence - TUC

Despite opposition from politicians and Economist over ongoing reforms in Banking Sector, Ghana Union of Traders Associations (GUTA) has lauded the Government for its effort to sanitization and entreated the Government to put in place effective measures to forestall its recurrence.

It said while doing so care must also be taken not to suppress the trade in money adding that government should closely monitor, evaluate and revamp the remaining good ones to rekindle confidence in the banks.

Mr Alpha Shaban, the General Secretary, GUTA, in a statement said "It is against this background that GUTA heaved a heavy sigh of relief when the Government boldly came out to rescue innocent victims from this awful situation."

Former president John Mahama has described the government’s handling of the banking sector crisis as poor.

The National Democratic Congress (NDC) flagbearer aspirant said, “Akufo-Addo’s administration’s predatory approach towards indigenous investors in the banking sector has created a panic run on the remaining surviving Ghanaian financial institutions.”

Meanwhile, Vice President Dr Mahamudu Bawumia has criticised former President John Dramani Mahama for failing to show leadership to resolve the financial meltdown in the country during his tenure of office.

He noted that the former President rather kept the banks and other financial houses in their comatose state till they died, instead of allowing the Regulator (Bank of Ghana) to perform its work independently as required by the law.

“This problem in the banking system was obvious in 2014 and even before. It is a problem that President Mahama and his government should have already thought about.

Source: Kofi Atakora/Joydaddymultimedia.com

Share It now

Leave a comment