Form 7-member C’ttee to probe uniBank,UT Bank collapse: Speaker directs.

by ANTHONIET BLANKSON
The Speaker of Parliament, Alban S.K Bagbin has directed the setting up of a 7-member Committee to investigate circumstances that led to the revocation of the license for UniBank and UT bank following a petition by two majority shareholders of the defunct banks. The directive cames after the petitions were laid on the floor of parliament by MP for Bawku Central, Mahama Ayariga on Tuesday, March 23, 2021. The House after debating the petition agreed to form a seven-member committee to investigate the circumstance that led to their fate. The committee is expected to start work when the House breaks by the end of March and report back when it’s done with its work. The House is expected to vote on the recommendations of the report including whether or not the licenses of the two banks must be restored. In a petition to Parliament, Dr Duffuor is asking Ghana’s law-making body to: (i): investigate the conduct of the Bank of Ghana in the takeover, the appointment of an Official Administrator of uniBank Ghana Limited and the circumstances surrounding the revocation of the banking license of uniBank Ghana Limited: (ii): Direct the restoration of the banking license of uniBank Ghana Limited by the Bank of Ghana and the remedying of the harms done the shareholders’ property rights as a result of the conduct of the Bank of Ghana; (iii) Give any other directives that Parliament may deem appropriate.

In Mr. Amoabeng’s requests to Parliament, this is his expectations:

  • Investigates the conduct of the Bank of Ghana and the Ghana Stock Exchange for the revocation of UT Bank’s license and delisting the bank without due regard to the rules of Administrative Justice guaranteed under article 23 of the 1992 Constitution.
  • Directs the restoration of the banking license of UT Bank Limited by the Bank of Ghana and the remedying of the harms done to the shareholders’ property rights as a result of the conduct of the Bank of Ghana.
  • Gives any other directives that Parliament may deem appropriate.

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