Back then, the BoG Governor allegedly “pressured” Agongo’s bank to combine with UMB before “killing” it.

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Isaac Adongo, the member of parliament for Bolgatanga Central, alleged that the Bank of Ghana had applied “dual standards” when it revoked the license of Heritage Bank as part of the effort to clean up the financial system.

Back then, the BoG Governor allegedly "pressured" Agongo's bank to combine with UMB before "killing" it.
Back then, the BoG Governor allegedly “pressured” Agongo’s bank to combine with UMB before “killing” it.

“Three weeks before the revocation of the license of Heritage Bank, the Governor of the Bank of Ghana invited the MD of Heritage Bank, the Board Chairman of Heritage Bank, our own venerable Prof Kwesi Botchwey, and the 70% shareholder of the bank, Seidu Agongo, to a meeting at the conference room of the Bank of Ghana,” Adongo said during a presentation at Takoradi Technical University on Thursday, October 17, 2019.

He continued, “During that discussion, Dr. Addison advised that Heritage Bank join with UMB.

Read the complete article, which was first released on October 18, 2019, by Classfmonline.

Isaac Adongo, the member of parliament for Bolgatanga Central, has accused Dr. Ernest Addison, the governor of the Bank of Ghana, of applying different standards when it comes to the Heritage Bank’s license being revoked.

The opposition legislator claims that Dr. Addison attempted to force Heritage Bank to merge with UMB three weeks before Agongo’s bank’s license was revoked on the grounds that he was facing criminal charges, failing the fit-and-property test.

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2 thoughts on “Back then, the BoG Governor allegedly “pressured” Agongo’s bank to combine with UMB before “killing” it.

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