Governor of the Bank of Ghana, Dr. Ernest Addison, has provided a detail response to the reason the Central Bank will not be appearing before a Parliamentary Committee to answer a petition by some shareholders of defunct UT Bank and unibank. According to him, one of the major reasons is to allow the legal proceedings […]
The Joint Receiver of the collapse Banks and Microfinance institutions has revealed that some customers are yet to receive their monies. According to Mr Eric Nipa, some customers sent in their claims late while others had no information to validate their claims because their institutions had already collapsed before the revocation of license. Hence, when […]
The Accra High Court will on July 8, this year, rule on a submission of “no case” filed by the Founder of the defunct Capital Bank, William Ato Essien, and three others accused of stealing depositors’ funds leading to the collapse of the bank. The other accused persons are the then Managing Director of the […]
The Bank of Ghana (BoG) has insisted that it would not appear before a parliamentary committee probing into the circumstances surrounding the revocation of licences of uniBank Ghana Limited and UT Bank Limited, which became insolvent. The committee was set up by the Speaker of Parliament, Alban Bagbin, in late March, 2021, following petitions presented […]
After spending some GH¢25billion of taxpayers’ money to settle depositors of various financial institutions in a radical clean-up, only GH¢1.7billion of that cash has been recovered so far in almost four years since the beginning of that exercise – a situation the regulator has blamed on slow processes of the judicial system. According to data […]