GH¢21 BILLION SPENT ON BANKING SECTOR CLEAN-UP – AKUFO-ADDO

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 […]

GH¢21 BILLION SPENT TO CLEAN UP THE FINANCIAL SECTOR – DR BAWUMIA

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 […]

UT BANK COLLAPSE: EOCO TAKES OVER KOFI AMOABENG’S MANSION

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 […]

INSOLVENT SAVINGS AND LOANS COMPANIES: GH¢6.39BN CLAIMS PAID

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 […]

FINANCIAL SECTOR CLEAN-UP: ALL CUSTOMERS TO RECEIVE CASH PAYMENT INSTEAD OF BONDS

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 […]

NOTICE TO THE GENERAL PUBLIC – MFCs AND S&Ls WITH NO RECORDS

IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930) AND IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES NOTICE TO THE GENERAL PUBLIC Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act […]