Hon. Mahama Ayariga, Member of Parliament for Bawku Central, has revealed that the finance minister reportedly sold shares in ADB, Prudential, OMNI-BSIC, and UMB to private individuals without public knowledge.
Hon Mahama Ayariga addresses how this has the potential to negatively affect the banking industry in a four-page letter titled “CEASE AND DESIST ORDER TO GAT: STOP THE FRAUD,” citing Ghana Amalgamated Trust (GAT) and its relationship with various banks it invested in sometime in 2019 to enable the banks to meet the Bank of Ghana’s minimum capital requirement directive (BoG).
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