Dr Addison expressed frustration about the processes in recovering assets, such as individuals “resorting to the court system to frustrate the process by engaging in frivolous actions”. Seven banks went bust within a space of one year – from August 2017 to August 2018. They include UT Bank, Capital Bank, uniBank, Sovereign Bank, The Royal Bank, The Beige Bank and The Construction Bank. The other five went bust two weeks shy of a year after the first two failed. UT Bank and Capital Bank were taken over by GCB Bank while the last seven were put together by the BoG to form the all-new CBG.

Source: GhanaWeb May 21, 2019 17:37 UTC