7-member Parliamentary committee to probe collapse of UT Bank, uniBank

The Speaker of Parliament, Alban Bagbin, has directed the formation of a seven-member committee to probe the collapse of UT Bank and uniBank.

Two majority shareholders in the banks, Kofi Amoabeng and Dr Kwabena Duffuor petitioned the House over the revocation of their licenses by the Bank of Ghana.

The petition also seeks the restoration of the licenses of these banks.

The petition, which was presented on the Floor by Bawku Central Member of Parliament (MP), Mahama Ayariga, faced stiff resistance from the Majority with Okaikoi Central MP, Patrick Yaw Boamah and Majority Chief Whip, Frank Annor Dompreh, disagreeing with it.

Things got to a head when the Majority Leader, Osei Kyei-Mensah-Bonsu, also waded into it and questioned the basis of admitting the petition.

But the Speaker in return challenged the Majority Leader to quote relevant portions of the standing orders that prevent him from admitting such a petition.

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When Mr Mensah-Bonsu could not state any, Mr Bagbin then gave the green light for the committee to begin the probe and submit their reports.

However, the members to constitute the committee and the date for commencement of work are yet to be made public.