Ghana’s Finance Minister Debunks Claims That The Banking Sector Clean-Up Was Targeted At Individuals

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The Finance Minister, Mr. Ken Ofori-Atta has debunked claims that the clean-up activities that were undertaken by the government were targeted at some specific individuals.

He stated that the previous management of the Bank of Ghana did the research on the banks and identified the rot in the sector.
Hence after President Akufo Addo took over the administration of the affairs of the country they simply followed through with the process for the clean-up exercise to sanitize the rots that were dangling the sector.

Mr. Ken Ofori-Atta emphasized that this was not a policy that was to be targeted at individuals because the rot was identified and cleaning the stables had to be done and they took up the challenge for that and the results have been good so far.
The Finance Minister made this known during his ministerial vetting in Parliament as he referenced the State of the Nation Address in 2016 that he said the previous government noticed the problem before the NPP took over in 2017.

This came up following Dr. Kwabena Duffuor, former Finance Minister and former Chief Executive Officer of UTBank petitioned Parliament over the revocation of license by the Bank of Ghana (BoG)