Banking sector clearn-up: Why ask me to merge if I’m not fit – Seidu Agongo

Seidu Agongo, the Majority Shareholder of the defunct Heritage Bank, has questioned the Central Bank’s justification for revoking his bank’s license.

In an interview on TV3’s Business Focus, scheduled for February 11, Agongo expressed his frustration over the circumstances surrounding the bank’s collapse. “If I’m not fit and proper, why were you asking me to merge with other banks? The same bank that was not fit and proper. Why were you asking us to merge with other banks?” Agongo asked, highlighting the inconsistency in the Central Bank’s actions.

Agongo’s comments come after he was recently cleared of all charges related to the bank’s collapse, following the discontinuation of his prosecution by the Attorney General. Despite his ordeal, Agongo remains optimistic about what could have been, believing that Heritage Bank would have brought unparalleled competition to Ghana’s banking industry.

The collapse of Heritage Bank has been a subject of controversy, with Agongo accusing the Central Bank of political persecution. According to a report by 3 News, Agongo described the collapse of his bank as a result of actions based on assumptions.