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Business News Mon, 3 Feb 2020

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BoG responds to Dep A.G on Duffuor-Amano Dodoo case

The Bank of Ghana has responded to claims by Deputy Attorney General Godfred Dame, in relation to the case between Founder of uniBank Dr Kwabena Duffuor and KPMG’s Nii Amano Dodoo.

According to the BoG, the Deputy Attorney General has made claims to the effect that the “foundation of the BoG’s decision resulting in the appointment of a Receiver for uniBank and the transfer of selected assets and liabilities to Consolidated Bank Ghana (CBG) was the initial appointment of KPMG as official administrators (OA) for uniBank in March 2018 under section 107 of Act 930.”

The BoG further indicated that Mr Dame “argues that in the discharge of its obligation, KPMG as OA was bound by the provisions of sections 107-122 of Act 930. Section 114(3) of Act 930 requires an OA upon his appointment to deliver to BoG no later than 90 days after its appointment, a report on the financial condition and prospects of the Bank or specialized deposit institution, and a proposed plan of action to make the bank comply with the law, by carrying out a plan of corrective actions as specified by the section.

Section 114(5) of Act 930 also requires an OA to promptly provide any additional report or information requested by BoG. According to the Deputy AG, he did not receive any information on any such additional report or information from KPMG and therefore considers the KPMG report of 18th June 2018 as the report prepared pursuant to section 114(3).”

However, the Central Bank in a response said : “We disagree with the Deputy AG’s claim that the 90-day report was the only report submitted to BoG by KPMG during the period of official administration and the attendant analysis based on this claim.”

Source: laudbusiness.com

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