A renewed call for accountability has emerged from the corridors of Parliament, as Bolgatanga Central MP, Isaac Adongo, questions the justification behind Ghana’s controversial banking sector cleanup, which reportedly cost the country over GH₵30 billion.
His remarks follow the Attorney-General’s decision to file a nolle prosequi, effectively ending the criminal trial against former Finance Minister, Dr. Kwabena Duffuor, and seven others in connection with the collapse of uniBank.
The Bank of Ghana revoked UniBank’s license in 2018, citing gross insolvency and mismanagement, sparking a long-standing legal battle. But the recent decision to discontinue the prosecution has reignited debates over the real cost and motives of the financial reforms.
“I think that the country must open a bigger conversation into the decisions, the rationale behind collapsing the banks and spending 30 billion, when it has become very clear that we just avoided a 6.9 billion problem with just 2 billion,” Mr. Adongo said during an appearance on JoyNews’ Newsfile on Saturday, July 26.
He called for an honest assessment of whether the funds used to bail out the banks were truly necessary, suggesting that the situation could have been salvaged with significantly less public expenditure.
Adongo stressed the importance of transparency, urging both the government and stakeholders to come clean about how and why such a vast amount of public resources was expended on what he described as a “manageable” financial crisis.
