The Bank of Ghana Headquarters
Economist Bernard Osei Tutu has asked the people who decided to revoke the licence of uniCredit to bow their heads in shame in the wake of the Court of Appeals' overturning of the revocation of the company's licence.
The Court of Appeal ruled as an unlawful exercise of power, the revocation of the licence of uniCredit Ghana Limited, one of the many firms under the HODA Group.
The unanimous decision was taken by the three-member bench chaired by Justice Gbiel Suurbaare on Thursday, 7 July 2022.
The other members of the panel are Justices Merley Afua Wood and Janapare Bartel.
According to Mr Tutu, the Court of Appeals ruling has thrown rotten eggs on the faces of those who collapsed the company.
Mr Osei Tutu made the comment on Class91.3FM’s 505 news programme hosted by Korku Lumor on Thursday, July 7, 2022.
He said a “whopping” amount of money was spent on “such a needless exercise that has come back to haunt the people who took that decision”.
He accused the government of being unwise in its decision to embark on the banking sector clean-up exercise.
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