To properly account for the funds used in 2019 for the banking sector clean-up effort, Finance Minister Ken Ofori-Atta was requested to do so.
The exercise was a bad choice driven by malign objectives to bring down companies, according to Oscar Yao Doe, Chairman of Doscar Group Holdings.
He claimed that the GH14 billion spent on “cleaning up the industry” should have been applied to a bailout of the financial institutions.
The chairman of Doscar Group Holdings, Oscar Yao Doe has called out the Finance Minister, Ken Ofori Atta, the Governor of the Bank of Ghana, Ernest Addison, a former Senior Partner at KPMG, Nii Amanor-Dodoo and Ose Gyasi, the head of Banking Supervision at the Bank of Ghana (BoG) to give an account of the whopping 14 Billion GHS they purportedly spent on ‘cleansing the Ghana banking sector.
In his public post this morning, Oscar described it as a wrong decision with evil intentions, the spending of such huge resources to achieve the collapse of 11 Ghanaian-owned Banks, over 300 Savings And Loans banks, and Microfinance companies. He once again queried why such an amount was rather not spent on bailouts, to save the institutions from collapse, as done in developed economies like the US and Europe.
HRH Oscar Yao Doe Writes
HRH Oscar Doe
“Breaking News: The Four WIse Men In Ghana?! History Scorecard: These 4: Hon. Ken Ofori-Atta, Gov. Ernest Addison, Nii ‘Deceiver, Amanor-Dodoo, And Osei Gyasi Said They Have Spent 14 Billion Ghana Cedis (Of) Tax Payers’ Money To Destroy 11 Ghanaian Banks, Over 300 Savings And Loans Banks And Microfinance Companies. CONGRATULATIONS To Them. They Are Extremely Wise Men! They Are Very Smart Thinkers!
In 2007/08, The US Government Intervened To Save Their Banks Through Government-Initiated Bailouts. The Effect Of The US Banking Crisis Spilled Over To Europe, And The European Commission Responded Swiftly By Creating Laws Within Their Own Stringent Laws To Pave Way For European Countries To Bailout Their Local Banks. They Did Exactly That.
What Stopped These 4 Men (Ken Ofori-Atta, Ernest Addison, Nii ‘Deceiver’-Dodoo & Osei Gyasi) From Paying Government Of Ghana Contractors Debts Owed To The Ghanaian Banks At The Time? Who Stopped These Wise Men From Helping Our Own Indigenous Businesses To Survive Any Challenges They May Have Been Going Through? Is The Destruction The Only Option? Bold NO! NO!! NO!!!.
The News Could Have Been That We Spent 3 Or 4 Billion Ghana Cedis To Bailout (Save) Our Ghanaian Banks. But Instead, We Are Told 14 Billion GHS Has Been Spent To Cleanse The Banking System In Ghana? In Their Own Grammar! Really? Time Will Tell.
Please Give (Us The) Breakdown To The Nation of How The 14 Billion GHS Was Spent? You Have An Obligation To Give Accounts To The Ghanaian People If You Believe Strongly It’s The Truth.
Using 14 Billion GHS To Kill Dreams And Aspirations Is Madness And Unwise. (It Is A) Wrong Decision (With) Evil Intentions.