Banking crisis: We’re chasing after culprits; “they’ll face justice” – Akufo-Addo


President Nana Akufo-Addo has said all those believed to have contributed to the banking sector crisis that saddled Ghana’s financial sector would be arraigned soon to answer for their misdeeds.

Addressing the 71st Annual New Year School and Conference themed: “Attaining Ghana Beyond Aid: Prospects and Challenges” at the Great Hall, University of Ghana, President Akufo-Addo said the state has had to spend over GHS 12 billion of public funds in order to rescue some 6,500 jobs as well as protect funds of some 4.6 million depositors.

Those responsible for this unfortunate happening, the President said, ought to be punished.

“We have begun bringing those responsible for the banking crisis to justice. We have one case in court and if prima facie evidence of criminality is found in the other ongoing investigations which, according to my information, is likely, then the perpetrators of these crises, that is, both the regulators and individuals, will face justice soon”, President Akufo-Addo said.

Incidentally, at the time the President was addressing the New Year School, the former CEO of the now-defunct Beige Bank, Mr Michael Nyinaku, and the former CEO of the now-defunct UT Bank, Mr Prince Kofi Amoabeng, were both arraigned on charges of stealing and money laundering in relation to the banking crises.

Both accused persons pleaded not guilty before the Circuit Court Judge Emmanuel Essandoh.

The hearing was adjourned to the 22 January 2020.

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