Blame UT, Capital Banks Directors For Collapse – ADB MD

The Managing Director of the Agricultural Development Bank (ADB), Dr. John Mensah, has taken a swipe at the board of directors of UT Bank and Capital Bank for the collapse of their banks.

According to him, the Directors of the said banks are responsible for making decisions, and therefore need to be blamed for the collapse.

“When it comes to decision-making, it’s the group that owns it; they call the shots”, he stressed.

He made this statement during a discussion in Accra on the emerging issues in the Ghanaian Banking Industry at the University of Ghana Business School (UGBS) Alumni Practitioner Forum on Wednesday.

Mr. Mensah eulogized the Bank of Ghana and stated that the Central Bank should not be accused of not playing a good supervisory role.

“We need to support the Central Bank to regulate the banking sector”, he said, stressing that regulating the activities of the commercial banks is very important.

Other speakers at the forum included the former Deputy Governor of Bank of Ghana, Mr. Emmanuel Asiedu Mante, and Professor A.Q.Q. Aboagye of the UGBS Finance Department.

The objective of the forum, held at the British Council in Accra, was for the school to engage with its alumni, and also contribute in the policy discourse in the country.

Source: Emmanuel Yeboah Britwum/ thePublisher