Prosecution of 'major players' in collapse of 7 banks to begin in October

Abronye Kwame Baffoe 40 NPP Bono Regional Chairman, Kwame Baffoe

Thu, 5 Sep 2019 Source: peacefmonline.com

Prosecution of Directors, owners and major shareholders who played diverse roles in the collapse of seven indigenous banks will commence in October according to the NPP Bono Regional Chairman, Kwame Baffoe.

He disclosed during a discussion on 'The Platform' show on Peace FM, Wednesday evening.

He said all the various actors will be trialed by the Attorney-General when the various courts resume work from their legal vacation in October.

There have been several calls for the prosecution of persons who played various roles in the collapse of seven local banks in the country.

The ruling New Patriotic Party (NPP) Bono Regional Chairman, Kwame Baffoe, who is popularly known as Abronye DC told Nana Yaw Kesse host of the 'The Platform' show that everything needed for the prosecution is ready.

According to him, "We are done with the forensic audit . . . the docket is ready . . . all the shareholders who were involved will also be taken to court."

The Bank of Ghana has revoked the licenses of uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited and has appointed Mr. Nii Amanor Dodoo of KPMG as the Receiver of the five banks.

All deposits of the five banks are safe and have been transferred to the Consolidated Bank.

Capital Bank and UT Bank collapsed in August 2017 and their assets and liabilities were taken over by state-owned GCB Bank.

The banks have all gone down due to liquidity challenges, the central bank noted.

Source: peacefmonline.com
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