BoG Owes Unibank GH₵868,973,599- Sammy Gyamfi
The Spokesperson for the shareholders of UniBank, Sammy Gyamfi has said that Government owes UniBank GH ₵868,973,599 as at May 31, 2018, per a letter issued by Klynveld Peat Marwick Goerdeler (KPMG) to Bank of Ghana (BoG) on June 22, 2018.
He said thiss on Adom FM’s Burning Issues on Wednesday, 21st August 2018.
Based on this, the Dean of Studies and Research at the Institute of Local Government Studies (ILGS), Dr Eric Oduro Osae Quizzed,
“If indeed government owes UniBank and if that amount owed by the government is paid, would they have an improved capital adequacy ratio that would allow the bank to continue operating as a liquid bank? Have the shareholders in UniBank indicated clearly that they are ready to pump more money into the bank?”
He further accused the BOG for not verifying and validating areas KPMG, an accounting firm could not do before liquidating Unibank.
“BoG should have verified the unverifiable and invalidated areas that KPMG could not do and add to the conclusion before they proceed because if I were the lawyer for the bank, (uniBank), I would have punched holes in the KPMG report because if you don’t have every information, you don’t draw conclusion since if you draw conclusion and advise and on the basis of that the BoG takes decision and liquidates me, I will protest”, he said.
Dr Oduro Osae added that, that there might be something the BoG has refused to reveal to Ghanaians but believes Dr Duffuor’s writ in the High Court would compel them to spell out because he arugues that, supervisory and regulatory department of the BoG slept on their job therefore allowing the collapse of the bank.
By: Hannah Bonful
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