NDC to scrutinize GCB takeover of Capital and UT banks

The former Member of Parliament (MP) for the people  North Dayi, George Loh has descended heavily on the organizers of Banking Awards in Ghana over the
collapse of UT and Capital Bank.

He said: “These banks took several awards in the banking sector so what signals were the organizers sending to the people of Ghana?”

“Which people were behind the awards given to them? because UT and Capital Bank were said to be doing very well in the banking sector,” the former MP said this on TV3’s New Day program hosted by Bright Nana Amfoh on Tuesday morning.

 Mr. Loh was contributing to discussions on the liquidation of these two Bank which took effect on Monday. Lawyer George Loh also said, “after sweeping all these awards and then just after some few days, you were taken over, this means that there's something wrong with our ranking system in the country and we must take a second look at them”.

 “What we're seeing does not give some of us the comfort and the NDC (National Democratic Congress) will have to do our own investigations and we'll inform the public whether we should trust them or not”.

“I'm very happy we haven’t heard someone collapse because most at times, all we hear is that people are collapsing and committing suicides due to some of these issues. For now, people are not convinced about how it was done and some of the unanswered questions are many."

“Can the organizers tell us that they didn’t see these issues? They were aware that the banks had these challenges.” Dr. Bernard Okoe Boye, The MP for Ledzokuku Constituency in the Greater Accra Region explained that the banks have "huge roles to play in these issues simply because the economy has an effect on them”.

He added that “A lot of companies defaulted in the payment of their loans because the then government was borrowing from the local banks,”.  Hon Okoe added, “regulator must be strict to save the interest of the customers and because of the smoothness of the takeover, the customers must sleep”.

Dr. Okoe also commended the Central Bank for how smooth the takeover was done. “Now Depositors are safe because the takeover is so unique and smooth to the extent that all branches remain intact and business is going on as usual."

 They were "so professional to the extent that they didn't give the general public any information. They only told the customers that go and work because your money is safe, if they'd told them they wouldn't have given them their monies, you can imagine the chaos that would have been in the system.”