A Legal Practitioner, Martin Kpebu believes politics played a major role when the Bank of Ghana (BoG) embarked on the revocation of licenses of some banks in 2017.

This, he said, has added to the existing high unemployment rate in the country.

According to him, it was unwise to undertake such an initiative, especially since it was later revealed that government could have supported the affected banks.

Mr. Kpebu recounted that in 2008, some banks that were facing challenges were not shut down but were rather saved. He added that putting measures in place to save the collapsed banks in 2017 could have indirectly helped solve some current economic challenges.

“This is the same central bank that took away licenses and collapsed the banks. Later it turned out that with about 9 billion or so or less, we could have sustained these banks. In America, you’ll hear ‘too big to fail.’ When the crisis happened in 2008, they (banks) were all in trouble but they were saved.

"You came and because of apparently political vindictiveness, you took licenses away. It caused big trouble. Today, the unemployment coming from the collapse of these banks, we’re yet to finish counting. It has been a long time coming that Addison is just not up to the task. You were pulling licenses away when you could have sustained it,” he said on Newsfile.

Drawing a comparison, the lawyer said when Jerome Powell of the US was in an ideological fight with Former US President Donald Trump despite both belonging to one party back in 2019, Dr. Ernest Addison was supporting President Akufo-Addo in taking decisions that would incurred dire consequences on Ghanaians.

Mr. Kpebu is therefore insisting that the governor, Dr. Ernest Addison is incompetent and has lost the plot.

Subsequently, he has thrown his support behind the Minority’s planned demonstration to demand the resignation of the governor.

The Minority has accused the governor of failing to exercise monetary discipline in his dealings with the Finance Minister leading to the central bank accruing a GH¢60.8 billion loss in 2022.

This protest, according to Mr. Kpebu is long overdue and a welcome news.

“Actually the Minority has slept for too long. Because the whole of last year, apart from the Arise Ghana demonstration and then my demonstration, the Minority didn’t do much. It was so painful. It looked like they had no balls. But if now they’re getting up, yeah, half a loaf is better than none.”

“So what the Minority is doing is what we have to do as citizens, because look, Governor Addison has lost the plot. He’s very, very incompetent. Addison’s problem is like the way Wampah was under their (NDC) regime. Addison and Wampah belong to one basket,” he said.