Danquah Institute has denied allegations of its involvement in the collapse and consolidation of some Ghanaian banks as witnessed in the Banking Sector reform undertaken by the Central Bank in 2017 and 2018.
Addressing the media in a reaction to a viral video circulating on social media, which points figures at the Think-tank, Finance Minister Ken Ofori Atta, Governor of the Bank of Ghana, Dr. Ernest Addison and President of the Republic, the Executive Director of the Institute accused the Opposition National Democratic Congress of being behind the video, citing it as adelebrate attempt to spread falsehood and malign the image of very senior credible members of the filling government and the President.
“Although we do not know the source or the people behind the video, its content is consistent with the NDC propaganda position”, he stated.
In the said video, it was alleged that the reform as had taken place was in execution of a plan to callapse financial institutions in accordance with an article by the Danquah Institute that showed that some banks belonging to members of the opposition parties must be collapsed to prevent them from financing their supposed political parties, with specific reference made to Dr. Kwabena Duffour and Papa Kwasi Nduom, founders of UniBank and GN Bank respectively.
To further support the reform in the Banking sector, Mr. Richard Ahiabah accused the NDC for failing to implement the Banks and Special Deposit Taking Act, 2016 it had passed in 2016 on the advice the International Monetary Fund (IMF), a deliberate refusal to solve the problems of the financial sector.
“The NDC knew of the impending collapse and vulnerilities of the Ghanaian banks, including UniBank, from the updated 2016 asset quality review report .”