Wicked politicians planned and executed unibank’s collapse – Gatsi

Wicked politicians planned and executed unibank’s collapse – Gatsi

The head of the finance department of the University of Cape Coast Professor John Gatsi has revealed the rational behind the collapse of unibank. 

“It is very clear that it was something that was planned and executed. You notice that after the official administrator advised that if government pays its indebtedness to the bank its problems will be solved, the bank of Ghana quickly took steps to derail that process including the ADB issues and collapsed the bank,” he said on Starr FM Thursday morning.

According to him, facts and evidence in the public domain following the takeover of the bank have shown that it could have been saved if the government had paid its indebtedness to it.

“If there is a change in government this matter will resurrect again if you are looking at it from the political angle. What it does again is to undermine the confidence in the regulators of the financial system” he added.

The BoG revoked the license of uniBank on August 1, and the Central bank subsequently created the Consolidated Bank to take over selected assets and liabilities of uniBank, along with four other collapsed banks.

The other banks were Construction Bank, Royal Bank, The Beige Bank, and Sovereign Bank.

The Shareholders stated at the time of collapse was that they “intend to ensure that the Bank of Ghana provides them with an official copy of the Report so as to enable them to address the contents of the report.”

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