People in the Brong Ahafo region and the three Northern regions have indeed become victims to what is either to be described as a grand conspiracy to rob them of their investments or financial scam authorized and certified by bank of ghana, the central bank of the republic to dupe seemingly the voiceless majority in the areas mentioned.
Ghana has indeed become a laughing republic, how could a nation with a considerable institutional reputation in the international community sit aloof and watch such sensitive institutions to become so irresponsible to the extent of jettison their core or fundamental duties.
The bank of Ghana as one of the key state institutions charge with a responsibility of offering maximum financial security to the people, a role which is to be consolidated with other equal relevant roles stipulated in the BANKING ACT to promote and facilitate effective financial administration in the country.
On the account of the various financial impropriety crusade led by so called fringe financial institutions like the DKM Micro Finance, God is Love and several others through their activities and other engagement with the central bank of Ghana, a significant number of Ghanaians have huge sums of monies hijacked with no or little convincing information available to these helpless victims to curtail their anxieties , frustrations and disappointments.
The bank of ghana is responsible for handling and supervising all financial or monetary transactions in the country and to realize this, the bank of Ghana through the banking Act is empowered to issue and withdrawal banking license. In effect any financial institution whose operations are in direct contravation with the stipulated banking laws regulating the various banking engagement could be revoked.
The Act again empowers bank of Ghana to setup a banking supervision department to track the various engagement of financial institutions nationwide.
And with such an overwhelming oversight mechanism in place, how then or by what means did some financial institutions like DKM microfinance and God is love fund club get the means to operate. The luxury of time accommodated these institutions to engage the public on investment line, a move which convinced lots of people to accept and appreciate the authenticity of these establishment forcing massive participation. These “evil establishment” became the only known financial hopes of many in the aforementioned region, very effective to the extent of maximizing their customer base for the past five year, in the case of DKM, a sunyani based microfinance company which had been in active business for the past five to six years.
Sometimes the way and manner the supposed learnered people behave and handle sensitive issues in this country put to question both academic and intellectual integrity of our educational system. Bank of Ghana after noticing the so called irregularities in the operations of these institutions and knowing very well that customers of these institutions were not from Cambodia but rather Ghanaians whom they own an outstanding responsibility of offering financial security and protect their intetest should have thought about rolling out measures which would refund the various investments but because we live Ghana, our those wielding power can abuse it and exercise foul discretions without penalization, they rather decided to muddy the whole case in a deliberate attempt to deny or make refund impossible, a true Ghanaian way of seeking the fall of others. Is this the interpretation of PHD’s , Masters degree and Bsc. these bunch of academic embarrassment boast of.
When critically review this issue, there are several fundamental questions that emerge, bank of ghana has a supervisory department that is responsible for identifying every financial institution in operation, if the operations of these institutions were illegal as has been alleged, have they been operating all these years at the blind side of zbank of Ghana?. What was the source of the the license with bank of ghana affirmation which was bolding displayed in the respective banking halls which were eventually incorporated into various radio advertisement, lastly why bank of Ghana sudden interest in the operations of these aforementioned institutions after billions of Ghana cedis had been collected from poor and needy Ghanaians. I don’t intend to insinuate ir sound cynical but rather on a mission to seek clarifications to my ununderstandings and severals minds out there who are bothered on this same issue.
The worse of it all is the attitude of indifference being exhibited by government, a social democratic government who is supposed to look after the welfare of the people will sit to be implicated in such a shameful enterprise by the opposition. The news is flying everywhere that government is hiding behind the central bank to steal from the people. And everyone should expect that such news will sell and achieve the likely political capital especially when leaders of the opposition parties appears to be the very people consoling and leading the crusade towards recovering their fortunes.
Infact it’s so shameful to realize that the government of the day has not shown any genuine commitment to resolving such a sensitive issue.
Are we safe at all because if at this age in Ghana, with the various security intelligence in place, we still live under the mercies of unscrupulous men who in the name of banking throw deception to rob the citizens of their hard won currencies because of institutional failure then it questions the relevance of these state institutions manned by finest of intellectuals from parading universities of the country..vey laughable.
For ver a year now, quite a significant number of Ghanaians have over billions of cedis locked up and the government think that is not a serious issue that requires immediate resolution then you then begin to wonder, what then is emergency, the situation have had serious repercussions not only on economic activities but rather have brought several deaths cases in the form of hanging, poisoning, records from hospitals at these areas affirm this. A myriad of problems which inludes cases of school dropout, marital misunderstandings and collapse, psychological traumas and its related health challenges have not been discussed, in fact the revelations are so damning
Can this blatant irresponsibility and an act of broad day thievery happens anywhere outside our jurisdiction?
What is government doing to remedy the situation, after several official reports have been conveyed to government, it’s almost a year now and nothing seems to have been done.
Are we really serious as a nation with leaders committed to the welfare of the citizenry?
In the midst of this economic challenges, an issue of this magnitude is not a priority?
The bank of ghana’s attitude towards resolving this issue is sickening, no definitive road map is outlined to ensure payments are made to customers at all cost.
And are we saying government can not also interfere in the operations of bank of Ghana in the face of this beaming failure and irresponsibility?. Is the government going to watch bank of Ghana to either collude or connive with these financials pansies to rob the people.
The opposition is making a great and enviable political capital out this situation and l sincerely believe they have to especially when the government attitude towards resolving this relevant issue is that of indifference. There is no shred of evidence out there to justify government’s commitment. The victims find solace in the opposition members of parliament of the area who have become crusaders pursuing the matter for a possible refund.
The deafening silence of government on this matter does no good but rather goes to give credence to the public speculations fueled by the opposition that government has convived with the bank of Ghana to haul their money for 2016 campaign.
The only way to defrail such a propaganda is government ensuring every cobo is refunded.
This is politics not a church organization, leaders are supposed to work for the people in diverse ways which include ensuring and providing safe financial environment.
Sadly some government officials have labeled the investment “a greedy venture” so therefore customers deserve the troubles they are going through, what? a leader sending such a message to aggrieved customers in their moment of desperation and anguish !! interesting times indeed.
Several assurances have come from various government quarters emphasising government plans to force payments but those promises have rather remained mere political rhetorics with no concrete actions, so shamful.
Interestingly, the media is much obessed with partisan issues, arena stunded with solid gold ,where most of our decorated media men receive their daily bread from and the situation has pushed sensitive national issues affecting human lives into the periphery.
This is my second time of writing on this particular subject not because l have a peculiar interest but as a citizen l feel overwhelmingly ashamed to be witnessing a scale of gross failure of this magnitude.
My conviction is rhat maybe the president is not prevy to this very important ugly situation and l take this opportunity to officially inform his Excellency John Dramani Mahama whose wife is from the town at the centre of this financial mess, Nkoranza as a matter of urgency resolve this issue as soon as possible because officials of the bank of ghana have proven incapable of handling such sensitive issue.
Or government should consider handing directives to BoG towards resolving this unfortunate financial coup detat to bring financial comfort to people who are citizens of ghana and require safe finacial haven and such a move will obviously give weight to the practical rendition of government as, seeking the over all welfare of the people irrespective of their race or ethnic orientation, colour, creed or culture background. Government silence is disappointing, the president must act now, his action could save several lives waiting to slip into perdition because of this financial entanglement. Happy new year to all my cherish and enthusiastic reader across the length and breadth of the country, the good Lord will continue to show
The Bible Is my witness !!
From; Ivan Kyei Innocent, firstname.lastname@example.org, 0206262717.