Bolgatanga Central MP, Isaac Adongo, has refuted media publications which sought to suggest that he was undermining his colleagues and fellow members of the Finance Committee of Parliament, in relation to the legislature’s probe into the collapse of some seven local banks.

“The words being attributed to me in the … publication are … false and non-existent but were only mischievously crafted, concocted or invented to throw a wedge between myself and my colleagues,” Mr Adongo said in a statement on Friday, 7 September 2018.

Mr Adongo, an ardent critic of the managers of the country’s economy, has been accusing Finance Minister Ken Ofori-Atta, Governor of Bank of Ghana (BoG), Dr Ernest Addison; and Director General of the Securities and Exchange Commission (SEC), of being complicit in the collapse of UT Bank, Capital Bank, uniBank, Sovereign Bank, The Royal Bank, The Beige Bank and The Construction Bank.

UT Bank and Capital Bank were taken over by GCB Bank while the last five were put together by the BoG to form the all-new Consolidated Bank Ghana (CBG) Limited.

Mr Adongo boycotted parliament’s probe.

According to him, the parliamentary probe is “a rubber stamp process, it will deliver no value [and] I am not willing to be part of it”.

The Minority MP pointed out that the documents that the committee members were given were statements from the banking sector and press releases by the BoG.

He further stated that documents from audit firm, KPMG, only contain conditions and opinions on uniBank.

He further revealed that the committee members do not know the terms of reference of the job that KPMG did, and “we don’t even know the full report of Boulders [Advisors], except an executive summary of Boulders’ work”.



For him, the committee has not been provided with all the relevant documents and other materials to constitute an independent and credible work, hence his decision not to “take part in rubber stamp meetings”.

Nonetheless, other members of the Minority on the committee including, Mr Kwetey, participated in all the meetings.

Mr Kwetey, after the first day of sitting, told journalists that Mr Adongo was on his own as far as his one-man boycott was concerned, adding that the Bolga Central MP did not represent the Minority with his actions and comments.

Mr Adongo noted that he knows Mr Kwetey “to be an investment banker with adequate insights and intellectual capacity to do what he does”.

The lawmaker said he, therefore, found it strange that media publications will suggest that he had cast a slur on Mr Kwetey when he had not done so.

“Those interested in breaking our front and particularly, my resolve to criticise and hold government accountable and responsible will fail pathetically as I stand resolute. Subterfuge and calumny is not the way. I stand for truth and justice and the truth shall prevail ultimately,” he emphasisied.