According to the youth group, circumstances surrounding the revocation of the bank's license amounts to a deliberate attempt by the governor of the Central Bank and the NPP government to victimise the majority shareholder, Seidu Agongo.
The Central bank revoked the licence of Heritage Bank because its majority shareholder, Seidu Agongo is standing trial before the high court and being prosecuted by the state in connection with an alleged GH¢271 million Ghana Cocoa Board (COCOBOD) fertiliser scandal.
The BoG said Seidu Agongo is not "fit and proper" to own a bank.
But the concerned youth in the Northern region has risen to the defense of the now defunct, Heritage Bank.
In a statement signed by the Spokesperson, Assibid Dauda, it said "The arbitrary GH¢400million minimum capital requirement was not a challenge to Heritage Bank which at the time of the sinister assault on it had GH¢120.6million in its accounts. To avoid suspicion of the planned evil against the Bank, Dr. Ernest Addison made himself a law and declared that the majority shareholder Mr. Seidu Agongo’s involvement in a ‘criminal proceedings’ in court made him "not fit and proper" to own a Bank.
"Every reasonable Ghanaian should fear this dangerous precedence being championed by Bank of Ghana’s Dr. Ernest Addison. Not even the common sense dictum that a man is presumed innocent until proven guilty has cautioned Dr. Ernest Addison to resist the pushing by his whimsical masters to let reason prevail. We have been pondering whether Addison will dare collapse a solvent Bank in these circumstances if it were owned by an Akyem or an Akan businessman!
"And what insult can one accept from a person like him except describing a fellow human being as not fit and proper? Is it because Mr. Seidu Agongo is a Northerner so he is not fit and proper? Have we become improper people in our own country? What is the crime of Mr. Agongo? That he was accused but not proven guilty? Or because Heritage Bank is healthy and must not be owned by a Northerner?"
Meanwhile, the Minority in Parliament has accused President Nana Addo Dankwa Akufo-Addo and the governor of the Bank of Ghana of deliberately and selectively collapsing banks in the country.
The Minority said the NPP government led by Nana Addo is hard on businesses owned by people who are perceived to be sympathisers of the National Democratic Congress (NDC).
In a statement issued by the Ranking Member on parliament’s Finance Committee, Cassiel Ato Forson, he said "The NPP government must be reminded that these businessmen or women are first Ghanaians and their businesses employ the citizens of our great nation.
"Therefore, it is important to spare them the disastrous polarisation and victimisation that is engulfing our politics."