Business News of Monday, 31 May 2021Source: www.ghanaweb.com• Out of the GH¢25 billion targeted, only GH¢1.7 billion has been retrieved• This was made known by the Bank of Ghana Governor, Dr Ernest Addison• He said recovering only 7 percent of the monies is not encouragingBank of Ghana Governor, Dr Ernest Addison, has disclosed that only GH¢1.7 billion has been recovered from the banking sector clean-up exercise the government undertook four years ago. He noted that the central bank is looking forward to receiving a total of GH¢25 billion from the defunct banks and Savings and Loans. Answering a question on how much has been retrieved from the banking clean-up exercise, Dr Addison said, "GH¢1.7 billion so far recovered but we are looking at total assets of GH¢25 billion. The banking sector clean-up exercise was undertaken in August 2017. According to BoG, the exercise was to restore confidence in the banking and specialized deposit-taking sectors.

Source: GhanaWeb May 31, 2021 16:18 UTC