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General News Sat, 7 Sep 2019

Attorney General to begin prosecution of shareholders, directors of collapsed banks

The Senior Minister Yaw Osafo Maafo has stated that the Attorney General will soon take legal actions against some specific individuals whose actions led to the banking crisis over the past 2 years.

Mr. Osafo Maafo stressed that owners of some of the default banks who took depositors money out of the country without following Bank of Ghana regulations will be made to answer for their actions.

Speaking at the presentation of the Ghana Beyond Aid Charter and Strategy Document, Mr. Osafo Maafo maintained that using GHS13 billion of taxpayers money to clear the mess in the financial sector must be accompanied with severe sanctions.

“You cannot run an economy without a banking sector that runs well and that banking sector is to be supervised by the central bank and I will say that in this supervision, the Central bank had failed in the past; there is no doubt about it,” he added.

Source: citibusinessnews.com
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