BOG Monitoring Team Should Be Up And Doing - UCC Lecturer

In the face of the collapse of Banks and investment companies in the west African country with the latest situation of MenzGold, Dr. Isaac Dasmani, a Lecturer at the Economics Department of the University of Cape-Coast has advised the monitoring team of Bank Of Ghana to up their game.

Dr Dasmani was speaking in an interview with Bogoso based Best FM on the morning show on Monday 17th September 2018 disclosed that, the monitoring team if were doing things right could have saved some of the losses incurred by institutions and their customers before hand.

"If the monitoring team was up and doing, they wouldn't sit down for things to get out of hand before closing institutions down, so many people are losing a lifetime because of these unfortunate situations which could have been avoided", Dr Dasmani stated.

The Economics Lecturer however louded the BOG for consolidating some banks to secure the savings of customers.

" It is a step in the right direction for the consolidation of some of the banks ahead of time to secure the savings of the customers of the bank, though there are some job losses, I think it is better for some staff to lose their jobs though unfortunate than sitting down for thousands of customers to lose their savings", Dr. Dasmani continued.

Dr Isaac Dasmani however bemoaned the external factors putting pressure on the cedi but stated that the Bank of Ghana has a system of putting the dollar in check when it comes to dealing with internal factors,