Business News of Tuesday, 8 May 2018Source: Myjoyonline.comLiquidity support of a troubled bank under threat, BoG hints of takeoverGovernor of the Bank of Ghana, Dr. Ernest AddisonThe Bank of Ghana (BoG) is looking at the option of withdrawing liquidity support for one of the troubled banks as a result of liquidity and other challenges that confront this bank. The situation could force the regulator to appoint an advisor to deal with the current situation at the bank, resulting in management takeover of the bank. Sources say the troubled bank received a communication from the Central Bank regarding its current status last week. In the absence of such a support from BoG, two options might be left for the regulator if it goes ahead to take the said troubled bank off life support. The Central Bank might be forced to appoint an individual to directly supervise the operations of the bank or be compelled to take over the bank by appointing an administrator.

Source: GhanaWeb May 08, 2018 08:26 UTC