Govt directs Receiver of CBG to hold discussions with labour unions

Mr Ignatius Baffour-Awuah,Minister Employement and Labour relation

Following a meeting convened between various stakeholders to find a resolution to challenges likely to confront affected workers of banks whose licences were revoked by the Bank of Ghana, it has been directed that the Receiver of the assets and liabilities of the five banks and their respective labour unions hold further discussions.

The meeting comprised the Ministry of Employment and Labour Relations, the Bank of Ghana (BOG), Directors of the new Consolidated Bank of Ghana, Secretary General of the Trades Union Congress, Industrial and Commercial Workers Union (ICU) and Union of Commerce, Industry and Finance (UNICOF).

A statement issued and signed by the Minister of Employment and Labour Relations, Ignatius Baffour Awuah further assured the general public that it would continue to monitor outcomes of engagements between the receiver and the unions to ensure amicable resolutions of the issues affecting workers.

It explained that the five defunct banks were insolvent and the government acting through the Ministry of Finance created the Consolidated Bank Ghana (CBG) Limited to assume assets and liabilities of the defunct banks.

About a month ago, the BOG acting through its regulatory framework revoked the licence of five banks for breaches of aspects of the banking laws and appointed a receiver (the KPMG) to oversee the activities of the new bank.

It is feared that about 1,700 workers may lose their jobs due to a rationalisation exercise to be undertaken by the CBG to realign its operations.

The statement issued on Tuesday by the Minister after the meeting  said the CBG, as part of its integration and rationalisation would maintain a sizeable number of workers of the defunct bank.

“Government assures the general public that it will continue to monitor outcomes of the engagement between the receiver and the unions to ensure amicable resolutions of the issues affecting the workers,” it said.

By Times Reporter                                        

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