General News of Saturday, 22 August 2020Source: www.ghanaweb.comJohn Mahama dishonest in criticism of banking sector clean-up – Ofori-AttaFinance Minister, Ken Ofori-AttaThe Finance Minister, Ken Ofori-Atta has said the former president John Mahama has been dishonest with his criticism of the governing party’s handling of the banking sector clean-up. The follows assertions made by Mr Mahama indicating that the Akufo-Addo government conspired with the Bank of Ghana (BoG) to cause the collapse of some banks and financial institutions. The Finance Minister in an interview with Citi News at the 2020 launch of the NPP’s manifesto in Cape Coast called out the assertions as disingenuous for the former president to suggest that the clean-up exercise was not prudent and rather needless. He added, though the clean-up exercise was not a smooth one, it has yielded positive results with most depositors of collapsed banks and financial institutions having received back their locked up funds. The clean-up saw the revocation of licenses of 9 universal banks, 347 microfinance companies, 39 micro credit companies or money lenders, 15 savings and loans companies, 8 finance house companies, and two non-bank financial institutions.

Source: GhanaWeb August 22, 2020 14:48 UTC