Business News of Thursday, 16 January 2020Source: classfmonline.comCollapsed banks: Arrest Ofori-Atta - Adongo to Akufo-AddoMember of Parliament for Bolgatanga Central, Isaac AdongoBolgatanga Central MP Isaac Adongo has called for the arrest of Finance Minister Ken Ofori-Atta for using GHC15.6 billion of taxpayers’ money to collapse nine local banks. The opposition member of Parliament’s Finance Committee said the banks would not have collapsed if Mr Ofori-Atta had settled contractors who borrowed loans from the now-defunct banks so they could be afloat. Mr Adongo questioned why Mr Ofori-Atta refused to pay the banks the GHS5.7 billion owed them but doled out GHC15.6 billion to collapse them. The banks wouldn’t have collapsed if the Finance Minister and the government had settled the debts of contractors who were also the main debtors of the collapsed banks. The President should be bold and arrest Ken Ofori-Atta before he makes any move to prosecute the accused bank managers,” Mr Adongo said.

Source: GhanaWeb January 16, 2020 11:26 UTC