Government has challenged the Minority in Parliament over claims of spending figures that amount to 23 billion cedis on the much talked about financial sector clean up.
347 micro-finance companies, 39 micro-credit or money lenders, 15 savings and loans companies, 9 universal banks, 8 finance house companies and 2 non-bank financial institutions have collapsed since 2017 when the financial sector clean up initially begun.
Whilst Vice President Dr. Mahmud Bawumia has blamed the erstwhile Mahama led administration for what he calls a mess in the financial sector, Isaac Adongo who is Member of Parliament for Bolgatanga Central and Member on Parliament`s Finance Committee is calling for details of how the 23 billion cedis of tax payers money was spent during the cleanup. He said the Vice President’s attempt to blame John Mahama for the collapse of the banks is rather laughable.
“There are unanswered questions regarding how we spent 23 billion Ghana cedis of taxpayers monies just to collapse financial institutions, create massive unemployment and turn entrepreneurs to idle hands. Unfortunately, instead of answers, the Vice President has adopted his infamous deceptive trait of looking elsewhere to blame for he and the President’s incompetent handling of what has become a full blown crisis” he said while addressing the media in Parliament.
However, government’s Spokesperson on Finance and MP for Bantama, Daniel Okyem Aboagye has denied the Minority`s claims that 23 billion cedis was squandered on the financial sector cleanup.
According to him, figures put out by the Finance Minister was 16 billion cedis and that was spent to save over 2.6 million people that were going to suffer the pain of NDC`S mess .
He said “2.2 billion would have lost all their money. Instead of looking at it, “people are losing their jobs”. We should be talking about the fact that the NPP government, President Akuffo Addo, what he did, his confidence and boldness, the fact that he did not think about the fact that he has to go for next elections. He was thinking about approaching the problem by being a man”.
Story By: Rukiaya Anane
