National Democratic Congress (NDC) Member of Parliament for Bolgatanga Central, Isaac Adongo has walked out of an ongoing probe into circumstances leading to the collapse of some seven banks in Ghana.

According to the MP who is on the Parliamentary Committee on Finance, the commission soughts to cover up certain personalities in the crisis that has hit the banking sector.

The Parliament of Ghana today, Wednesday, September 5, 2018 began a probe into the circumstances that led to the collapse of some seven local banks in the country.

Parliament’s Finance Committee was expected to question officials of the Bank of Ghana (BoG) and Finance Ministry about the roles the institutions played in the collapse of the banks.

In August 2017, UT Bank and Capital Bank went down and all their assets and liabilities were taken over by state-owned GCB Bank.

A year later, the Consolidated Bank Ghana Limited was formed after the central bank fused the Sovereign Bank, The Construction Bank, The Beige Bank, The Royal Bank and uniBank together after they all ran into liquidity problems.

Mr. Adongo who spoke to the media immediately after he stepped out of the meeting room said; “I just walked. Listen, this is a rubber stamp process, they will deliver no value and I am not willing to be part of it,”

He insisted that not enough documents have been provided to members of the committee to do a thorough job.

For instance, he said, he was yet to receive reports on the about five asset quality reviews done on uniBank, as well as terms of reference given to KPMG.

He also mentioned among others that the committee is not privy to the contract the central bank signed with Boulders, asking “why should I sit in that meeting, I don’t take part in rubber stamp meetings”.