The Bank of Ghana (BoG) withdrew the licences of Capital Bank and UT Bank for being illiquid and deficient in capital.
GCB Bank subsequently took over the two struggling banks.
The action was part of moves by the government through the central bank to restructure the banking sector.
In the heat of the matter, the Finance Committee of parliament instituted a probe to ascertain the role the Bank of Ghana played in the collapse of the banks, and determine the extent of culpability of central bank officials.
Some two Ghanaians petitioned the Speaker of Parliament, Prof. Mike Oquaye, to allow for a public hearing of the legislature’s probe into the crisis.
The two, Nana Adofo Ofori and Anthony Mifetoo, argued that the decision by the finance committee to hold the hearings in-camera is counterproductive.
Meanwhile, Member of Parliament for Bolgatanga Central, Isaac Adongo, boycotted the legislature’s probe into the banking crisis.
Mr. Adongo, a member of Parliament’s Finance Committee, said the proceedings were a mere “rubber stamp process.”
“It will deliver no value. I am not willing to be part of it,” he told the media.
He complained that the committee did not have the best of documentation and records to assist members of the committee with the probe.
