The Bank of Ghana made history in January 2019 when it collapsed a SOLVENT bank on the direction of Nana Akufo-Addo and his cousin, Ken Ofori-Atta.
The Heritage Bank Limited was collapsed by Bank of Ghana Governor, Dr Ernest Addison purely because it’s founder and majority shareholder, Alhaji Seidu Agongo, belongs to the NDC Party and was therefore deemed not fit to own a bank.
This was in spite of the fact that the Bank of Ghana bad praised Heritage Bank for its exceptional performance and diligence. As a result of the positive ratings, the Bank of Ghana even recommended that Heritage Bank merges with Universal Merchant Bank but after due diligence by Heritage Bank, led by the astute Prof. Kwesi Botchwey, it was revealed that UMB had issues.
Days after Dr Ernest Addison met with the board of Heritage Bank over the merger, the bank was collapsed, cutting short a plan to create a successful business from Ghana onto the African stage.
The action shocked well-meaning Ghanaians and financial experts, with many wondering why a bank with a bright future will be collapsed to satisfy political expediency.
But months later, it became clear that Heritage Bank was collapsed purely on the grounds of politics, and hatred that some people from certain parts of the country do not deserve to own businesses and be wealthy.
Although the Bank of Ghana said Seidu Agongo’s 70% ownership of Heritage Bank was too high hence the collapse of the Bank, it was later revealed that one person owned 99% in one bank and the 1% was owned by the same person’s wife.
Also, one shareholder owns 96% of a bank currently in operation.
The question therefore is why was Heritage Bank collapsed although it operated with one of the best infrastructure, did not owe anybody, and had more money than debts? The answer is simply because the bank belonged to Alhaji Seidu Agongo, someone who is not a member of the NPP and is not a family relation of Akufo-Addo and Ofori-Atta.
Due to the wicked, vile and vindictive collapse of Heritage Bank, many people, running into the 100s lost their jobs and source of survival while businesses that relied on the bank to operate collapsed.
These revelations were made in a facebook post monitored by wobeti.com.