Lydia Forson: Our money is not safe in banks, where is our money safe?

She has a good question there but …

Lydia Forson is controversial for so many people for so many reasons but this is probably because she can ask thought-provoking questions. Take here “where is our money safe?” question, for instance, you will realize that in the post-banking-irregularities Ghana where people are being told by receivers that they can’t get all of the money they saved or invested with various banks and savings and loans companies, one is forced to wonder, what is a country without a robust and dependable banking system?

“Our monies are not safe in banks, in our homes, in the holes we dig in our backyards, under our pillows, in our susu boxes,” Forson stated on Twitter.

As much as for political expediency we may write her off as an NDC-loving actress (which is the usual charge depending on who is in power) we must look critically at the situation where it is no longer safe to trust bankers.

If we can’t trust bankers, security services (as evidenced by the public response in the aftermath of the Taadi girls’ DNA tests), the president and by extension the entire government machinery, we will be in deep waters.

Prince Kofi Amoabeng has voiced similar sentiments on TV3 this morning where he said he thought it was wise to deal with the banking crisis without endangering the confidence of the public in the sector. He said UT Bank had an investor ready to take over but it seemed there were plans to just collapse the bank without thought to the thousands who may lose their jobs in the process.

For now, we can take Amoabeng as a disgruntled banker but he admitted that there were problems that needed to be addressed and gave the government the benefit of the doubt. His only beef was with the process and the seeming impatience to have the problems rectified.

It is important that government sanitized the system and it is important that weaker institutions were let go but the PR bit of it and the communication by the receiver for defunct savings and loans companies leave much to be desired.


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