The Majority Leader and Minister for Parliamentary Affairs, Osei Kyei Mensah Bonsu has revealed that some banks in the country deposited their monies with gold trading firm, Menzgold.
According to him, the Bank of Ghana should solely take culpability for the crisis that has rocked the financial sector in the country, saying ‘’the monitoring division of the Bank of Ghana was laxed and did not do its work well. That is how come we have these challenges on our hands’’ he said on Accra based okay fm and monitored by BestNewsGH.com
He noted also that, the Bank of Ghana also supervised deposits of issued sovereign bonds with private banks in the country, a situation he explained was illegal.
‘’The Bank of Ghana led the way and allowed monies that accrued from sovereign bonds to be given to a private bank to manage. Where in this world does that happen? But these are some of the things that were allowed to go on in the previous administration, yet people seek to blame the current government for the mess in the financial sector. This should not happen’’. He added.
Mr. Kyei Mensah Bonsu said the current government is doing all it can to sanitise the financial sector and to ensure that operations in the sector are done in accordance with international best practices to forestall any crisis in the future.