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GH¢1.5bn to banking clean-up victims another looting scheme – Dafeamekpor

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The Member of Parliament for South Dayi, Rockson-Nelson Dafeamekpor, has questioned the government’s decision to release GH¢1.5 billion to the affected victims of the banking sector clean-up in 2019.

This comes on the back of a directive by the president, Nana Addo Dankwa Akufo-Addo, to the Ministry of Finance to release GH¢1.5 billion to customers affected by the banking sector clean-up.

The minister, Dr. Amin Adam, explained that the disbursement is expected to take place between now and October.

Reacting to this, the South Dayi MP stated in a post on X that the government, under Ken Ofori-Atta, disclosed in the 2022 Budget Statement to Parliament that a substantial amount of GH¢25 billion had already been spent on compensating the victims of the financial sector clean-up. 

The new directive by the president, according to the MP, questioned the necessity and recipients of the new GH¢1.5 billion payment order.

Dafeamekpor’s scepticism is further fueled by the government’s seeming refusal to extend bailout funds to Menzgold customers, despite their appeals. 

The MP is demanding full disclosure of the expenditure and the fate of the assets from the seven banks and over 450 financial institutions that were shut down during the clean-up process.

“This government, through the then Finance Minister, Ken Ofori Atta, told Parliament in its 2022 Budget Statement that it had spent a whopping GH¢25 billion on the financial and banking sector clean-up by paying victims of locked-up investments with the collapsed banks. 

“So why is the Prez suddenly asking the new Finance Minister to make additional payments of GH¢1.5 billion? To whom exactly? Meanwhile, this government has refused to pay Menzgold customers as part of this bailout.

“Why? What has happened to the assets of the seven banks and the over 450 financial institutions coercively collapsed by this regime? We need the full disclosures of every single pesewa paid to anyone or spent supposedly in this “clean-up.” This new payment order appears to be another looting scheme,” the post stated. 

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