Former President, John Dramani Mahama says the Bank of Ghana’s crackdown in the financial sector is a “national security threat.”
The Bank of Ghana has since August 2017 closed down 420 financial institutions in the country.
Interacting with Ghanaians on social media on Thursday, Mahama said about 20,000 direct jobs have been lost because of the financial sector clean-up.
“About 20,000 people have lost jobs directly due to the 420 financial institutions that have been shut down. We have not even added the indirect jobs…By the time we do the total calculation, about 40,000 to 50,000 people may have lost their jobs,” he added.
During the interaction, Mahama took on the central bank and the Akufo-Addo government for revoking the licenses of the financial institutions insisting that there were other better options available.
“Was the revocation the best option at this circumstance or there was no option? Our central bank chose the chaotic situation with accompanying huge debt where the government has no clue on how to clear it.”
Mahama noted that, revocation of licenses would have been the last resort for an NDC government.
“Revocation of licenses would have been the last resort and not the first resort. No country is immune to crisis in the financial sector,” he added.
The post Shutdown of financial institutions a national security threat – Mahama appeared first on Citinewsroom - Comprehensive News in Ghana, Current Affairs, Business News , Headlines, Ghana Sports, Entertainment, Politics, Articles, Opinions, Viral Content.
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