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Those responsible for banking crisis will soon face the law- President

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President Nana Addo Dankwa Akufo-Addo on Tuesday said those found culpable for the recent banking crisis will soon face the full rigors of the law.

“We have begun bringing those responsible for the banking crisis to justice. We have one case in court, and if prima facie evidence of criminality is found in the other ongoing investigations, which, according to my information, is likely, then the perpetrators of the crises, both regulators and individuals, will face justice soon.”

The President said this when he opened the 71st Annual New Year School of the University of Ghana, Legon in Accra.

The three-day event, being organized by the School of Continuing and Distance Education of the university, is under the theme “Attaining Ghana Beyond Aid: Prospects and Challenges.

President Akufo-Addo said in as much as the action to close down the malfunctioning banks and micro finance institutions was painful, it was a move that inured to the benefit of the depositors of those institutions.

“We had to take painful but necessary measures to sanitize the banking sector. In effect GH¢12.58 billion of public funds was injected into the banks and micro finance institutions following their malfunction.

“The jobs of some 6000 workers were saved instead of the 10,000 that would have lost their jobs in addition to the protection of funds of 4.6 million depositors, he said, adding that banking reforms would ensure a vibrant sector.

Touching on corruption, the President said the canker continued to hold back the development of the nation and that it was in the interest of the entire citizenry that the stealing of public funds did not thrive.

“We must police each other’s behaviour and report acts of corruption”, he stated.

President Alkufo-Addo pointed out that every single alleged act of corruption levelled against any of his appointees had been investigated by independent bodies, such as CHRAJ, the CID of the Police Service, and, in some cases, by Parliament itself.

Additionally, Government has systematically increased, over the last three years, the funding for accountability institutions.

“Twenty-one (21) officials of the previous administration are standing trial over their involvement in alleged acts of corruption or causing financial loss to the state, amounting collectively to the tune of some GH¢772 million, and the courts, at the appropriate moment, will deliver their verdicts in accordance with due process”, he added.

Speaking to the theme of the conference, the President told the gathering that the programmes and policies being implemented by his government are putting the country onto the path of progress and prosperity, and, would, eventually move Ghana to a situation beyond aid.

He rallied Ghanaians to support the enterprise to have a Ghana Beyond Aid, join hands and collaborate with the Government to define the country’s destiny, and put it on path of sustainable growth, prosperity and development.

The president said the Ghana Beyond Aid was not a mere slogan, but an achievable agenda that will quicken the pace of the country’s development, make it truly independent and in charge of its own affairs, and guarantee the respect and dignity the nation deserved

Source: GNA

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