Banking Consultant, Nana Otuo Acheampong has admonished Governor of the Bank of Ghana, Dr Ernest Addison, to ensure during his second tenure that persons behind the collapse of indigenous Ghanaian banks in 2017 face the law. According to him, many depositors of these collapsed banks are still faced with uncertainties and hardship as a result […]
IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930) IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES NOTICE TO THE GENERAL PUBLIC SALE OF LANDED PROPERTIES As you may be aware, pursuant to Section 123 (1) of […]
The government expended GH¢21 billion to clean up the banking sector, the President, Nana Akufo-Addo has announced. Delivering his final ‘State of the Nation’ address to the 7th Parliament, he said “an amount of GH¢21 billion was used to fund the cleaning up exercise. These are painful lessons we all have to imbibe” The Bank […]
Vice-President Dr. Mahamudu Bawumia says the government has spent GH¢21billion to clean up the financial sector. He said 99 percent of depositors of the affected banks, microfinance and savings and loans companies had been fully settled. The Vice-President was speaking at the 12th Edition of the Nation Building Updates at the Cedi Conference Centre, Department […]
Governor of the Bank of Ghana (BoG) has revealed an amount of GH¢2.3 billion out of GH¢12 billion in assets have been recovered by the receiver of the defunct savings and loans companies. According to Ernest Addison, all depositors of collapsed banks that became insolvent due to the clean-up exercise undertaken by the BoG have […]
The Economic and Organised Crime Office (EOCO) has taken over a plush house of embattled former Managing Director of defunct UT Bank, Mr. Prince Kofi Amoabeng, MyNewsGh.com has confirmed. The house according to checks by this portal is located at Kukurantumi in the East Akim District of the Eastern Region. It was built 15 years […]
Out of GH¢ 6.5 billion in deposit claims validated by the receiver of the failed specialised deposit-taking institutions (SDIs), GH¢6.39 billion has been paid in cash to depositors, the Second Deputy Governor of the Bank of Ghana (BoG), Mrs. Elsie Addo Awadzi, has said. With that payment, she said, there was now an outstanding amount […]
The Vice President, Dr. Mahamudu Bawumia has said that 461,339 depositors of Savings and Loans as well as microfinance firms have so far been paid their locked-up funds, following the revocation of licenses of some S & Ls and MFIs. At the same time, he reiterated that all customers of the nine defunct banks whose […]
The Governor of the Bank of Ghana, Dr. Ernest Addison has justified the recent decision by government to release an amount of GHS3.56 billion in cash, to fully settle claims of depositors of defunct Microfinance companies, Savings and Loans firms and Finance Houses, instead of sticking to the original plan to pay that amount using […]
IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT,2016(ACT 930) AND IN THE MATTER OF THE RECEIVERSHIPS OF 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS AND LOANS AND FINANCE HOUSE COMPANIES AND NOTICE OF CONVERSION OF GOVERNMENT BACKED NON-INTEREST-BEARING COMMERCIAL PAPER (“BONDS”) INTO CASH AT NO DISCOUNT IN RESPECT OF PAYMENTS TO AFFECTED […]