The Alliance for Social Equity and Public Accountability (ASEPA) is kicking against the re-nomination of Ken Ofori-Atta as Finance Minister.

In a 37 paged petition to the Appointments Committee of Parliament, the group indicated that based on Mr Ofori-Atta’s role in the collapse of a number of financial institutions, among others, it believes he is no longer fit to hold the position.

Speaking to Citi Business News, the Executive Director of ASEPA, Mensah Thompson, stressed that the track record of the Finance Minister-designate leaves much to be desired.

“It is our contention that based on the serious violation of our law as enumerated above, the various misconduct and the activities of Mr Ken Ofori-Atta between 2017 and 2021, we believe that Mr Ken Ofori-Atta should be standing criminal prosecution and not a vetting by the Appointments Committee. We are however praying on the Appointments Committee to outrightly put the interest of this country first and reject the appointment of Mr Ken Ofori-Atta.”

He further admonished the appointment committee of parliament to ensure it carries it the vetting process without any undue influence or bias.

“We are also serving a word of caution to the members of the Appointment Committee that we know of plans far advanced to induce members of the committee to approve the nomination of Mr Ken Ofori-Atta even though they know for a fact that he is unfit to occupy the position. We are serving a word of caution that we are watching them and the people of Ghana will hold them to account on their conduct on the committee.”

The financial sector clean-up was commenced by the Akufo-Addo administration in August 2017 and led to the collapse of nine universal banks, 347 microfinance companies, 39 microcredit companies or moneylenders, 15 savings and loans companies, eight finance house companies, and two non-bank financial institutions. This cost the government over 21billion Ghana cedis.

However, a report from the Bank of Ghana (BoG) in 2019 showed that deposits grew in the past six months after the industry went through some reforms.