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 Accra High Court has imposed a 15-year jail term on the founder of defunct Capital Bank, William Ato Essien, for stealing over GH₵90 million belonging to the bank. Essien, who was convicted in December last year for stealing over GH₵90 million belonging to Capital Bank, avoided a custodial sentence after the court accepted an […]
Convicted William Ato Essien, the founder of the defunct Capital Bank has been given at least up to July 27 to redeem his first installment of GH¢20 million to the State. It has emerged in Court on Tuesday, July 4, that Mr Ato Essien has so far paid GH¢8 million of the GH¢20 million leaving […]
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 […]
Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act
930) (“the Act”), Bank of Ghana (“BoG”) on 31 May 2019 and 16 August 2019
Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (“the Act”), Bank of Ghana (“BoG”) on 31 May 2019 and 16 August 2019 revoked