Sunday, 27 November

Adongo takes on BoG over source of funding of GAT in acquisition of 5 local banks

Business
Isaac Adongo

MP for Bolgatanga Central, Isaac Adongo, has said the Bank of Ghana’s (BoG) decision to decline his request for the assessment of the BoG’s report on the source of funding of Ghana Amalgamated Trust in the acquisition of shares in the five local banks namely; Universal Merchant Bank, OmniBSIC Bank, National Investment Bank, Agricultural Development Bank and Prudential Bank is erroneous and of no legal merit.

Mr Adongo had requested for the above information from the central bank in accordance with the Right to Informational Act 2019 (ACT 989) but his request was turned down.

In response, Mr Adongo through his lawyers has written to the Bank of Ghana to comply with his request because it is prudent for parliament and Ghanaians to know the factual basis for the recapitalisation of the five banks.

Details of his request are contained in the documents below:

Source: Classfmonline.com/Emmanuel Mensah