Business News of Tuesday, 14 January 2020Source: citinewsroom.comCourt remands CEO of collapsed Beige Bank, Mike NyinakuMike Nyinaku, CEO of now defunct Beige BankThe Chief Executive Officer (CEO) of defunct Beige Bank, Mike Nyinaku, has been remanded in police custody. Why Beige Bank lost licenseThe Bank of Ghana of Ghana revoked the license of Beige Bank in 2018. Beige Bank was said to have obtained a banking licence falsely. An inventory asset and property report filed by the Receiver to the Bank of Ghana revealed that Beige Bank had total assets of GHc 494 million. The Receiver said Beige bank did not adhere to credit administration policies and had inadequacies in recovery efforts.

Source: GhanaWeb January 14, 2020 13:41 UTC