Two banks liquidated
Cops cited in fake currency racketeering
Killing the sick…
Ridge Hospital faces crisis
We’ll resist any effort to turn schools into privilege dens for wards of the rich -UGM
Two banks liquidated
The Daily Graphic gives a front-page prominence to the liquidation of two local commercial banks. The Graphic reports that two local commercial banks in Ghana, the Bank for Housing and Construction (BHC) and the Co-operative Bank, have been liquidated.
The Registrar-General’s Department with the Price Waterhouse Coopers Management Consultants Limited is carrying out the liquidation as the consultants. The story says that the liquidation follows persistent losses resulting from the deterioration of the loan portfolios of the two banks.
The two financial institutions have, therefore, been declared insolvent for their inability to satisfy adequacy and minimum capital requirements set out under the Banking Law, and are consequently, to cease operations with immediate effect under the Liquidation Act of 1963 (Act 180).
According to the Graphic, the government has approved schemes to protect the interest of depositors and workers of the two banks. The paper says that depositors would fully recover their deposits at the banks with the government as the underwriter of their losses.
Under the scheme, depositors will be required to surrender their rights to claims to the government and in exchange, have their net deposit balances transferred to the nearest Ghana Commercial Bank (GCB) and the Agricultural Development Bank (ADB) branches. The Graphic says that what has not been determined et is what becomes of the assets of the two banks.
GRi../
Cops cited in fake currency racketeering
In its lead story, the Ghanaian Times reports that a suspect on bail has made some startling disclosures that are a fresh slur on the public image of the police at Techiman in the Brong Ahafo Region. The Times says that first, it was an alleged involvement in an armed robbery case. Now it is connivance with fake currency dealers, a sordid drama that would seem to be.
The story says that Alo Macho, a leading suspect, who was being sought in connection with a robbery incident, in which three Techiman cops were implicated, made the disclosures after his arrest two weeks ago. The Times says that Macho was arrested by Corporal Alex Danquah, the policeman who was first identified by the robbery victim, Kofi Nkebere, as the leader of the gang that robbed him.
The paper says that according to police sources, Macho, who already has a case with the Atebubu Police, is said to have defrauded four people to the tune of 22 million cedis in a currency racketeering deal. The police sources, the Times say, explained that the racketeers normally looked for prospective buyers of fake cedi notes through agents. Once the amount of fake cedis needed by the buyer is made known to the racketeers, they charge half the amount needed in genuine cedis.
The Times, quoting the sources says that for example, if a buyer wants 10 million cedis, Alo Macho and his men, with the fore knowledge of their police accomplices, would charge 5 million cedis in genuine money. After concluding the deal the policemen, who would have laid ambush around the venue of the deal, would be alerted, and thus signalled, they would swoop on the venue and "arrest" the dealers and the buyers. But after an "amicable settlement", the "suspects" will regain their freedom only for Macho and his men to turn around and share the booty.
The Times quotes Macho as explaining that that was the deal he was involved in with the police and not armed robbery.
GRi./
Killing the sick…
Writing in the Ghana Palaver, columnist Ekow Kesson, notes that recent developments as regards the rate of the cedi n relation to the major currencies, have offered a "golden opportunity" to some unscrupulous traders and businessmen in general to engage in excessive profiteering in the sale of their goods.
These people, he says, ready to quote the currency rate on the market, have increased prices above limits and thus imposing undue hardships on consumers. Ekow Kesson says that the profiteers, taking advantage of the absence of price controls, and with some in absolute monopoly situations, have turned what can be described as "a crime against society", into a lawful business.
He says that one area where this kind of callousness is in evidence is the operation of some pharmacies or what is commonly known as drug stores. According to him, within the past few months, prices of drugs have jumped so high that one wonders whether those who are manipulating them to their sole advantage, have lost hold of the ethics of their profession – or is it the case that they have deliberately thrown ethics to the wind?
He notes that mostly, it is the sick, often in pain, who call at the drug houses for relief. Ekow Kesson says that unfortunately, many are they whose pains are worsened by the prices of the drugs quoted to them in these supposed "houses of relief"…
GRi../
Ridge Hospital faces crisis
The Statesman in a front-page banner headline story, reports that the Ridge Hospital in Accra, is facing a serious brain drain. The paper says since the hospital ‘escaped’ military take-over last October, doctor and nurses at the health facility are leaving in droves to seek greener pastures.
It says that this exodus of personnel is crippling the operations of the hospital, adding that morale of the staff is low because they were being over-stretched with no added incentives. The Statesman quotes a source as explaining that after the short-lived military presence, most of the junior doctors have decided to take up appointments at the 37 Military Hospital, where the salary is said to be about four times their current salary.
According to the paper, in the case of nurses, while some of them have resigned to take up appointments at Aviation Hospital, formerly Airport Clinic, with attractive salaries, others have applied for leave without pay to travel abroad.
The story says that as if the crisis is not enough, the government is starving the hospital of the needed funds to manage it out of crisis. The hospital has to rely on internally generated revenue for its operations, the paper adds.
GRi../
The Crusading Guide
We’ll resist any effort to turn schools into privilege dens for wards of the rich -UGM
In a back-age story, the Crusading Guide reports that the United Ghana Movement (UGM) has described the move by the Ghana Education Service (GES) to privatise best schools within its educational system, as fraudulent and counter to the constitutional duty of the GES.
The party has also stated its intention to "resist any attempt to turn any of the public schools into exclusive and privileged dens for wards of the rich and the powerful". The Crusading Guide says that in a statement read by the presidential candidate of the party, Dr Charles Wereko-Brobby, at a press briefing in Accra last Friday, the UM said much as it recognises the right of nay Ghanaian to establish private educational institutions, it thinks it is repugnant to deprive children of less fortunate Ghanaians of the opportunity to get the highest level of quality education from the public school system.
The party stated that the Director-General of the GES ought t be reminded that his duty is to protect and improve Ghana’s public school system, to enable the country to return to the era when no one except the ‘filthy rich’ or expatriates need send their wards to private schools.
GRi../