General News of Wednesday, 7 March 2018Source: Graphic.com.ghuniBank’s takeover of ADB null and void – Bank of GhanaGovernor of the Bank of Ghana, Dr. Ernest AddisonGraphic Online can confirm that the Bank of Ghana (BoG) will later Wednesday denounce as null and void, the purported take over of ADB Bank [Agricultural Development Bank] by its counterpart indigenous lender, uniBank Ghana Limited. “The thing is uniBank does not, in their own, have majority shareholding in adb but what happened was some shareholders of adb promised to support uniBank at the board level. “But if someone pledges to support you, do you go out there to say you have taken over a bank? But can you even take over a bank without permission from the regulator,” the source asked. The source added that BoG’s position on the matter, expected before close of Wednesday, March 7, will render the action of Belstar Capital, Starmount Development Company Limited, EDC Investments Limited and SIC-FSL – shareholders of ADB null and void.

Source: GhanaWeb March 07, 2018 10:30 UTC