Business News of Friday, 1 May 2020Source: happyghana.comAkufo-Addo didn’t collapse banks, he saved them – Kennedy AgyapongMP for Assin Central, Kennedy AgyapongMember of Parliament (MP), for Assin Central, Kennedy Agyapong has said that the greatest achievement of the President Akufo-Addo led government has been the consolidation of some seven (7) banks in 2018. The legislator vehemently opposed the idea that the President collapsed the banks. On his authority, he mentioned that “saying the President collapsed the banks means that he destroyed them and customers lost their monies but it never happened that way”. The Bank of Ghana earlier in August 2018 revoked the licenses of five struggling banks and merged them into one and named it Consolidated Bank Ghana Limited (CBG). The affected banks included uniBank, Sovereign Bank, Construction Bank, Royal Bank, and Beige Bank.

Source: GhanaWeb May 01, 2020 05:48 UTC