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UniBank, UT Bank probe c’ttee gives petitioners week to submit documents

The nine-member parliamentary committee probing the collapse of uniBank and UT Bank has given the petitioners Dr Kwabena Duffour and Mr Prince Kofi Amoabeng a week to produce the necessary documents to support their petition.

Speaking to journalists on the sidelines of the inauguration of the new Parliamentary Service Board, the Chairman of the bi-partisan Committee, First Deputy Speaker Joe Osei-Owusu said: “The committee met last week and after reading the petition, we decided to call on the petitioners to bring to us all the documents on which they based their petition and request so that the committee will review them and then guide us on the way forward”.

“We have not as yet received them”, he said, adding: “I think we agreed that we will reconvene in two weeks because we said we are allowing them one week to submit and one week for us to study the documents, and then we start our work.”

The former founders of the now-defunct banks want parliament to investigate the revocation of their banks’ licences by the Bank of Ghana.

Below are their reliefs:

UT Bank

i) Investigate the conduct of the Bank of Ghana and the Ghana Stock Exchange for the revocation of UT Bank’s licence and delisting the bank without due regard to the rules of Administrative Justice guaranteed under Article 23 of the 1992 Constitution.

ii) Direct the restoration of the banking licence of UT Bank 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.

uniBank

i) Investigate the conduct of the Bank of Ghana in the takeover, appointment of an Official Administrator of uniBank Ghana Limited and the circumstances surrounding the revocation of the banking licence of uniBank Ghana Limited;

ii) Direct the restoration of the banking licence 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.

The Bank of Ghana, in August 2018, announced the revocation of the licences of five banks and put them together as Consolidated Bank Ghana Limited.

The banks were uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited and appointed Nii Amanor Dodoo of KPMG as the Receiver for the five banks.

Prior to the amalgamation of the five banks, the Central Bank had closed down UT Bank and Capital Bank in August 2017.

Source: ClassFMonline.com

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