The Member of Parliament for Ho Central and Member of the Finance Committee in Parliament, Benjamin Komla Kpodo, says Parliament’s in-camera hearing of the banking crisis is the best, warning that a public hearing could cause chaos.
Parliament’s in-camera hearing on the banking crisis commenced on Wednesday.
The 25-member Finance Committee is expected to focus on the role the Bank of Ghana played in the collapse of the banks, and determine the extent of culpability of Central Bank officials.
The committee will invite officials of the Finance Ministry, managers of the banks, KPMG, Pricewaterhouse Coopers, Boulders among others for questioning.
Pressure group, Occupy Ghana, has objected to parliament’s decision to probe the banking crises behind closed doors.
In a petition addressed to the Speaker of Parliament, Mike Aaron Oquaye, Occupy Ghana stated: “We, as members of the public whose taxes funded the bailout monies, would want to be reassured that there has been no cover-up in the inquiry because of the personalities involved in the instances of malpractice identified in the reports. Any sitting in-camera will breathe life into and give teeth to rumors that there are personalities behind huge kickback payments who are also cronies of politicians and who may be shielded by an in camera proceedings.”
However, in an interview with Ekourba Gyasi on Atinka AM Drive Thursday, Mr. Komla Kpodo stated that the in-camera hearing of the crisis in the banking sector was in Ghana’s interest.
He noted that a public hearing could have a domino effect on some banks, causing panic in the system.
Commenting on the fate of the staff of the defaulted banks as discussed at the probe on Wednesday 5th September 2018, Benjamin Komla Kpodo mentioned that representatives from the Bank of Ghana said that although there will be job loses, it will be managed.
Seven local banks have collapsed between 2017 and 2018. These banks are UT Bank, Capital Bank, uniBank, Sovereign Bank, The Royal Bank, The Beige Bank, and The Construction Bank.
Ghana | Atinkaonline.com | Vivian Adu Boatemaa