NPP Chair fires back at critics on collapsed banks

Mr. Edmond Kyei, New Patriotic Party (NPP) first Vice Chairman of the Asokwa Constituency in the Ashanti Region, has hit back heavily at critics of the government regarding the collapsed banks.

According to him, the harm would have been greater if the current government had not intervened to save the life time investments of thousands of Ghanaians.

Mr. Kyei told The Chronicle that some banks had been closed down following poor management, among other factors, but was quick to admit that even though the government appreciates that jobs and properties had been lost, the harm would have been greater if the banks were allowed to operate without any restraint.

The Vice Chairman indicated that the previous administration could have taken the same measures to save the victims in the case of customers of DKM, Menzgold, God is Love, Justa Motors, and many other collapsed banks and financial institutions among others.

He stressed that the President Akufo-Addo-led administration took upon itself to merge those banks, which were on the verge of collapse, and has come under severe criticisms.

He disclosed that Bishop Charles Agyinasare, Founder of Perez Chapel, recently waded into the discussion by criticising the government for the measures taken, and blamed it for taking such actions without considering assisting them to be solvent, meanwhile, the damaged caused was beyond repairs, and for that matter, the government had no option than to take those steps to merge the defunct banks (Consolidated Bank Ghana), which is fully operational, while their directors are in court.

He argued that Bishop Agyinasare’s contention that the efforts of the government are borne out of envy is out of place stating that the government never closed down any of those banks, but only took over management.

The NPP activist said he expected the respectable Bishop to rather commend the government for the action taken to save depositors funds, and as well support it to fight the chief executives officers and directors who deliberately mismanaged those funds to serve as deterrent to others who potentially want to choose the same path, thinking they can also walk free.

The Asokwa Vice Chairman noted that in as much as the government appreciates the position of Bishop Charles Agyinasare and his constant outbursts, he appealed to him to cross check the facts before making any utterances before his reputation and image are dented.

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