Ofori-Atta deceiving banks with Bible verses – Adongo

Isaac Adongo, MP for Bolga Central has accused Finance Minister, Ken Ofori-Atta, of refusing to pay of a whopping GHC 5.7 billion debt government owes local banks, including struggling Unibank.

The NDC legislator alleged that the poor capital stock of Unibank and other local banks is partly because government has refused to pay loans contracted from these banks for developmental projects.

“Ken Ofori-Atta will collapse indigenous banks, if we sit aloof and watch them collapse one bank after another.

“The finance minister goes about clutching a Bible to persuade banks to release loans which it refuses to pay,” he alleged on Okay FM on Wednesday.

He accused government of frustrating all attempts by the owners of Unibank to liquidate the bank.

He added, “Government owes local banks up to GHC5.7 billion out of which 1 million is from Unibank alone. After the KPMG report. Owners of the bank have forwarded a proposal to release monies towards the recapitalization of the bank’s stocks, but they have not even acknowledged receipt of the document.

“It is only a ploy to collapse the bank because Kwabena Dufuor is aligned with the opposition NDC, and that is not fair,” he alleged.

Mr Adongo explained that when government takes these loans from indigenous banks, it inadvertently make their capital drops beyond the required level causing serious challenges for the financial institution.

On his part, Stephen Amoah, Chief Executive Officer of MASLOC reacting to the issue on the same platform questioned the assertions by the MP, asking under which government the aforementioned loans were released.

He denied that incumbent government is deliberately making attempts to run down Unibank.

“What Isaac Adongo is saying is not true. Government does not owe only Unibank; It owes Barclays , Ecobank, why would government want to collapse Unibank – the hard ships we are experiencing in Ghana is all as a result of bad management of former government, the NDC,” he said.

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