General News of Friday, 17 January 2020Source: kasapafmonline.comHospitalised Beige Bank CEO, Mike Nyinaku granted GHC352 million bailEmbattled Beige Bank CEO, Mike NyinakuThe embattled Chief Executive Officer of collapsed Beige Bank, Mike Nyinaku, has been granted bail in the sum of GHC352 million with two sureties. Mike Nyinaku has been on remand in police custody since Tuesday, January 14, 2020. Beige Bank collapseThe Governor of the Bank of Ghana (BoG) disclosed the reasons for the solvency of Beige bank which has been taken over. Dr Ernest Addison revealed at a press conference that Beige Bank obtained its banking licenses by false pretenses. The Receiver said Beige bank did not adhere to credit administration policies and had inadequacies in recovery efforts.

Source: GhanaWeb January 17, 2020 13:30 UTC