uniBank shareholders demand KPMG report

BY: Graphic.com.gh
Dr Kwabena Duffuor
Dr Kwabena Duffuor

The shareholders of the collapsed financial institution, uniBank have announced that they will take steps to force the Bank of Ghana to provide them with the official report on the Financial Condition and Future Prospects of the bank.

The shareholders, in a statement demanding the report produced by KPMG said they have been denied access to the report by the BoG.

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According to them, as a result, the report has been used to discredit uniBank and no opportunity has been provided to the shareholders to respond to any purported findings of KPMG.

“It is unacceptable for the Bank of Ghana and KPMG to deny Shareholders access to the report, even as material in the report has been widely disseminated to discredit uniBank and instigate public contempt and opprobrium against uniBank,” the statement said

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“No opportunity has been provided to the Shareholders of uniBank to respond to any purported findings of KPMG and yet they are being tried by the court of public opinion without the full facts of the case".

Accusing, KPMG of 'conflict of interest', the statement said they are benefiting from the report after they were appointed Receiver in respect of some assets of uniBank and the four other collapsed banks.

“The recent appointment of KPMG as the Receiver in respect of some assets of uniBank and four other banks shows KPMG seeking to benefit from the report that it provided to the Bank of Ghana through a further paid engagement, a clear conflict of interest situation which does not put KPMG in a good light.”

"The Shareholders intend to ensure that the Bank of Ghana provides them with an official copy of the Report so as to enable them to address the contents of the report".