BoG owe Ghanaians an apology and needs not to be hailed – Adom Otchere

Good Evening Ghana host, Paul Adom Otchere believes the central Bank of Ghana owes citizens of the country some apology after the revocation of licenses of the five banks, now the Consolidated Banks of Ghana.

Speaking in an interview on Kessben FM/Kessben TV morning show, Maakye, Adom Otchere said the Bank of Ghana by their dealings went contrary to the laid down measures of parliament.

“The bank of Ghana failed to follow the laid down rules and regulations set by parliament on money regulation and he (Dr Ernest Addison) failed to give details during the press conference”

“First, if you are Bank of Ghana and has been mandated by the country to manage our finance, if I deposit Ghc 500 at Ghana Commercial Bank and I have the trust that I will get the 500 cedis, I have that trust not because of Ghana commercial bank but because of Bank of Ghana, who is the policeman who inspect the activities of banks in Ghana and his role as a policeman was given to him by Ghana which comes with the power to inquire on all the banks at any time. So even if I have issues with Ghana commercial bank, I know the bank of Ghana can intervene on my behalf. So if the bank of Ghana, tells us that there is misconduct within the banks and you didn’t tell me the measures put in place to curb this menace from happening again, then I believe you didn’t tell me anything.”

According to the Good Evening Ghana host, the governor and his people were in no hesitation supposed to indicate their laid down measures and apologize for the ordeal

“The governor and his people at this stage should come out and indicate their laid down measures and apologize for what has happened” he said.


The central bank of Ghana on August 1 revoked the license of five banks with reasons of some either acquiring their licenses fraudulently or violated the capital requirement with impunity, the five banks include – Beige Bank, Construction Bank, Royal Bank, Sovereign Bank and Unibank. However, the five collapsed banks have been merged to be called Consolidated Bank Ghana Limited and Mr. Nii Amanor Dodoo of KPMG has been named receiver of all the banks.



By: Derrick Ofori