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 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. […]