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We have no control over judicial process –BoG tells parliament

June 25, 2020 By 1 Comment

The Governor of the Bank of Ghana, Dr Ernest Addison has indicated that his outfit is furnishing the Attorney General (AG) with the documents and information it needs to expedite the process of prosecuting culprits of the banking sector crisis.

He wished the processes could be a bit faster but unfortunately they do not have control over the judicial process, except to provide information which is necessary to support the AG’s work.

“We wish the processes could have been faster but we are working on it. We are supporting the Attorney General with materials to help them prosecute shareholders and directors that are culpable,” he said.

Dr Addison made this known when he appeared before the Public Accounts Committee of Parliament to answer some audit findings by the Auditor General.

Article 187(6) charges Parliament to “debate the Report of the Auditor-General and appoint where necessary, in the public interest, a committee to deal with any matters arising from it”. Parliament’s Standing Order 165 (2) has, therefore, assigned the PAC to examine the audited accounts of government showing sums granted by Parliament to meet public expenditure and of such other accounts laid before Parliament.

Yesterday, the Bank of Ghana appeared to respond to Report of the Auditor-General on the Statement of Foreign Exchange Receipts and Payments of the Bank of Ghana for the year ended 31 Dec 2018, which had nothing to do with the banking crisis saga.

However, Mr Ras Mubarak, Member of Parliament (MP) for Kumbungu and a member of the committee indicated that there is still disaffection about the manner in which persons who caused the banking sector crisis are being handled and sought to have some responses from the governor.

The MP said that some Ghanaians are dissatisfied with how those involved are being handled, taking into consideration the fact that the crisis resulted in job losses and questioned the Governor if he was satisfied with the process of bringing the culprits to book.

Mr Mubarak also intimated  that some of the person’s involved were still hanging onto their properties and very little action have been taken against them and would like the governor to respond to those question.

Another member of the committee also asked the Governor that its monitoring department is very effective and can prevent some of these serious infractions from occurring.

He said most MPs are concerned about the issue because they their constituents run to them when they have issues which are not so pleasant.

 Other Audit Queries

 Ghanaians abroad not remitting monies to their families

According to the committee, transfers from Ghanaians in the Diaspora to their family’s home are dwindling. The committee said that  the 2017 and 2018 report indicated that what the commercial banks earned on inward remittances were very low indicating that more Ghanaians are no more remitting monies to their families.

However, the Governor indicated that such a conclusion cannot be drawn because its not only the commercial banks that receive remittances.



1 Comment on "We have no control over judicial process –BoG tells parliament"

  1. old miner
    June 27, 2020 Reply

    The President, the Minister of Finance, and the Governor should be hanging from tree branches causing the deaths of depositors who could not access their funds for the whistle blower memo is just the tip of the ice burg to the corruption these three people have forced upon the citizens of Ghana during their term in office!

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