President John Dramani Mahama has nominated Dr. Johnson Asiamah as the new Governor of the Bank of Ghana, pending approval by the Council of State. The nomination follows a formal request by the current Governor, Dr. Ernest Addison, to proceed on terminal leave ahead of his retirement on March 28, 2025. Dr. Johnson Asiamah nominated BoG […]
The Governor of the Bank of Ghana, Dr. Ernest Addison, is set to proceed on terminal leave starting February 3, 2025, ahead of his official retirement from the central bank. Dr. Addison, who has served as Governor since April 3, 2017, was reappointed for a second term on March 29, 2021. In accordance with the […]
The Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, provided a detailed account of the banking sector crisis that plagued Ghana in 2017. He recounted the drastic measures taken to salvage the sector and establish a more robust financial ecosystem. A sector on the Brink “When I took office in 2017, the […]
The Director of Communications of the Bank of Ghana (BoG) has clarified that the BoG worked closely with GN Bank during its liquidity challenges. According to him, the Central Bank also worked with GN Bank after its request to be reclassified as a Savings and Loans company. He indicated that the revocation of GN Savings […]
A Human Rights Court in Accra has dismissed the application filed by Dr Papa Kwesi Nduom, GN Savings and Loans, and another for human rights infractions exhibited by the Bank of Ghana (BoG) in revoking the entity’s license.
The Court of Appeal has dismissed an application challenging the revocation of the operating license of a defunct microfinance company, TI Microfinance Limited, by the Bank of Ghana (BoG). The court in a unanimous decision was of the view that the judicial review application filed before the High Court was wrong in law. The court […]
William Ato Essien, the founder of the defunct Capital Bank, who was standing trial for stealing GH¢192.5 million of depositors’ funds, has avoided a custodial sentence. Essien avoided prison today (December 13, 2022) after the court, presided over by Justice Eric Kyei Baffour, accepted an agreement between him (Essien) and the prosecution for Essien to […]
Two former officials of the Bank of Ghana, alongside three other executives of defunct UT Bank are facing different types of charges in an Accra High Court (Commercial Division) over their purported roles leading up to the collapse of the bank. According to the charge sheet filed at the High Court, former second Deputy Governor, Dr. […]
The High Court presided over by Justice Eric Kyei Baffour has rejected a settlement deal between state prosecutors and embattled founder of now-defunct Capital Bank, Ato Essien. According to the settlement arrangement submitted on Wednesday to the court, a day before the advertised judgement day, Ato Essien had agreed to change his plea to guilty […]
The Court of Appeal has by a unanimous decision upheld the Bank of Ghana’s application that the suit by Dr. Papa Kwesi Nduom and others against the Bank of Ghana’s revocation of the licence of GN Bank be referred to Arbitration. The Court today June 2nd, 2022, held that per section 141 of the Banks and […]