Local Banks regulated by the Bank of Ghana are currently suffering as depositors are withdrawing their monies on a daily basis.

The withdrawals are as a result of the consolidation of six banks into one bank and the fear that their monies will be locked up.

Sarkodie, Ghana’s biggest rap star who wades into every issue of national interest has asked Ghanaians to believe in the local banks in order for them to grow.

According to him, people should not withdraw their monies just because of panic and fear that the banks will die out.

In a tread 0n Twitter, the rapper asked that Ghanaians keep calm and trust the systems to work for them.

Observing what’s happening inside the banking sector, I think we need a lot more education on how the banks work so we don’t take actions that can collapse our local banks

— Sarkodie (@sarkodie) October 6, 2018

Take over of UT didn’t affect funds in there … all that changed was account details and cheque books and thats worse case scenario when it’s been regulated by BOG

— Sarkodie (@sarkodie) October 6, 2018

Banks don’t keep our monies sitting there waiting for us to withdraw they work with it but it’s safe … No need for the panic withdrawals all of a sudden

— Sarkodie (@sarkodie) October 6, 2018

Source: Mynewsgh.com