Government will not compromise protection of depositors’ money in sanitization of banking sector-VP Bawumia

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Vice President, Dr. Mahamudu Bawumia has reiterated government’s commitment at protecting the savings of depositors with licensed financial institutions in the country.

According to him, government will be very cognizant at the fact that it has to ensure that legitimate depositors who have monies deposited with licensed financial institutions are protected even as the banking sector is being sanitized.

The Vice President made this known On Tuesday, 27th November, 2018, when he gave the keynote address at the 22nd Annual National Banking Conference of the Chartered  Institute of Bankers (CIB) Ghana, in Accra.

‘’The sanitisation of the financial system cannot be at the expense of depositors because we need the confidence of the depositors to maintain the stability of the system’’ he observed.

Dr. Mahamudu Bawumia continued ‘’in this regard government will ensure that the deposit of depositors in licensed financial institutions such as banks, savings and loans, and microfinance would be protected in the process of sanitising the financial system’’.


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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