Business News of Wednesday, 10 February 2021Source: www.ghanaweb.comEnsure perpetrators of collapsed banks face the law in second tenure – BoG Governor urgedGovernor of the Bank of Ghana, Dr. Ernest AddisonBanking Consultant, Nana Otuo Acheampong has admonished Governor of the Bank of Ghana, Dr Ernest Addison, to ensure during his second tenure that persons behind the collapse of indigenous Ghanaian banks in 2017 face the law. According to him, many depositors of these collapsed banks are still faced with uncertainties and hardship as a result of the collapse. So those are some of the tasks he has ahead of him or he should have on his desk to attend to,” Otuo Acheampong lamented. In 2017 banks such as UT Bank, UniBank, Royal, Construction, Beige, Sovereign, Heritage and Premium banks had their licenses revoked and subsequently consolidated into one bank. The regulatory crackdown of these collapsed banks was based on poor business practices and weak capital positions resulting in a series of market exits.

Source: GhanaWeb February 10, 2021 16:41 UTC