Former Presidential Staffer, Kojo Adu Asare has called on the Governor for the Bank of Ghana, Dr. Ernest Kwamina Yedu Addison to launch investigation into the mismanagement of the UT and Capital banks that led to the GCB Bank takeover.

Speaking on Peace FM's 'Kokrokoo', Hon. Adu Asare told sit-in-host Nana Yaw Kesse that it's not enough for the Bank of Ghana to revoke the licenses of the banks.

To him, the Governor should roll out sanctions to the management of the two banks should a probe into the issue disclose their involvement in the insolvency of the banks.

According to him, "it's not pleasant to put your money in a bank like that and hear things like this happening.”

Hon. Adu Asare further added that he has "no regret" for the top management of the banks, in that they can all be laid off as a result of the takeover by the GCB bank.

The Bank of Ghana on Monday revoked the licenses of the UT and Capital banks after it noted that the two banks were insolvent.

There were concerns from customers of the two banks as GCB bank took over and would administer the banks.