Government has retreated the need for the financial sector cleanup was the best way to save the collapsing banking sector when the New Patriotic Party took office in 2017.
President Akufo-Addo delivering the State of the Nations address in Parliament on Tuesday, he indicated that over 6m Ghanaians were victims and therefore, the need to undertake the bold decision to relieve some banks and financial institutions of their operational licenses.
He stressed that; depositors who have been validated would be paid accordingly after due processes are being followed.
However, President Akufo-Addo admitted the cleanup exercise has negatively affecting many Ghanaians who had deposits at the defunct banks.
Source: Mybrytfmonline/Kwabena Nyarko Abronoma
