Bank collapse: Parliament sets up committee to consider petition by Amoabeng, Duffuor

Parliament is to set up a committee to consider petitions by Prince Kofi Amoabeng, former CEO of defunct UT Bank and Dr Kwabena Duffuor, owner of uniBank Ghana Limited.

The two have petitioned Parliament to investigate the conduct of the Bank of Ghana in the revocation of their banking licences.

The Speaker, Alban Bagbin proposed a seven-member committee with four members from the Majority and three from the Minority to consider the petitions and present its report to the House.

 Disagreements

 Meanwhile, Osei Kyei-Mensah-Bonsu, the Majority leader and Minister of Parliamentary Affairs disagreed with the setting up of the seven-member committee.

 In a heated exchange with the Speaker, Kyei-Mensah-Bosu said, “There is no express provision. So that cannot be done, that’s why I’m saying that I disagree with you…”

But Alban Bagbin however defended his action, explaining that the Standing Orders do not allow him to reject petitions sent to the House.

 What petitioners want from Parliament

 Prince Kofi Amoabeng and Dr Kwabena Duffuor, also want Parliament to direct the Bank of Ghana to restore their licences.

In a petition cited by asaaseradio.com, Amoabeng wants Parliament to:

i) Investigate the conduct of the Bank of Ghana and the Ghana Stock Exchange for the revocation of UT Bank’s licence and delisting the bank without due regard to the rules of Administrative Justice guaranteed under Article 23 of the 1992 Constitution.

ii) Direct the restoration of the banking licence of UT Bank Limited by the Bank of Ghana and the remedying of the harms done the shareholders’ property rights as a result of the conduct of the Bank of Ghana.

On his part, Dr Duffuor is seeking the following reliefs from Parliament:

i) Investigate the conduct of the Bank of Ghana in the takeover, appointment of an Official Administrator of uniBank Ghana Limited and the circumstances surrounding the revocation of the banking licence of uniBank Ghana Limited;

ii) Direct the restoration of the banking licence of uniBank Ghana Limited by the Bank of Ghana and the remedying of the harms done the shareholders’ property rights as a result of the conduct of the Bank of Ghana.

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