12 articles
The National Democratic Congress (NDC) has questioned the justification of the Bank of Ghana (BoG) to build a new head office despite recording a huge loss in 2022. The largest opposition party says the excuse given by the Central Bank for the decision is "most ridiculous to say the least". BoG had
The number of cheque fraud cases increased marginally by 2.56 per cent from 39 cases in 2018 to 40 cases in 2019, the Bank of Ghana (BoG) has said. This, according to the central bank, includes fraud incurred as a result of cloned cheques, stolen cheque leaflets and cheque alteration. Notable, howev
On the morning of Monday August 14, 2017, Ghanaians woke up to news that the Bank of Ghana had revoked the licenses of two prominent indigenous banks – Capital Bank and UT Bank. At the same time, the Bank of Ghana (BOG) had approved a Sale and Purchase Agreement that allowed GCB to immediately take
Member of Parliament for the Tamale North Constituency Alhassan Suhuyini Sayibu has described as “reckless” the banking sector clean-up carried out by the Bank of Ghana. “We would have done this banking sector clean-up in a different way to secure jobs,” he insisted. The National Democratic Congress
A senior staff at the Bank of Ghana, Gilbert Addy, has been sacked “for gross misconduct in relation to corrupt transactions and for accepting bribes”. Mr Addy was found complicit in the award of the Ghana Retail Payment Systems Infrastructure contract to Sibton Switch Systems Limited in 2016. He is
A businessman, Daniel Darko, has filed a suit at the Human Rights Division of the High Court to restrain the Central Bank from making any further pronouncements on shutting down financial institutions in the country. According to the writ sighted by editors.3news.com and dated 23 November, 2018, the
President Nana Addo Dankwa Akufo-Addo says the seven banks that have gone under in the past year were “inefficient, poorly managed banks”. According to President Akufo-Addo, most of them had poor governance structures and poor risk-credit policies. He said the Central Bank was, without any end in si
The Bank of Ghana has maintained the monetary policy rate at 17.0 per cent. The decision was reached at the 83rd meeting of the Monetary Policy Committee (MPC) on Monday, July 23. The policy rate has reduced since January, at 20 per cent. It came to 18 per cent in March and reduced by 100 […]
The Chief Executive Officer of BEIGE, Mike Nyinaku, has confirmed that The BEIGE Bank(TBB), its universal banking subsidiary, is on course to meeting the Bank of Ghana’s GH¢400 million minimum capital requirement for universal banks by the end of 2018. “We have a gap of less than GH¢100million of th
The Head of Payment System at the Bank of Ghana (BoG), Dr Settor Amediku, has said the central bank wants to further deepen financial inclusion by increasing the percentage of financial inclusion in the country from 58 per cent as of the end of 2017 to 75 per cent by the close of 2023. That, [&helli
It is expected that depositors’ funds at the various banks will be insured in the coming days. This is because the Ministry of Finance is preparing to lay before Parliament the Depositors’ Insurance Bill for consideration. Governor of the Bank of Ghana Dr. Ernest Addison is optimistic this will incr
Britain's most wanted cocaine fugitive was living like an African king hiding out in Ghana having married into one of the country's most affluent families. David McDermott, of Ormskirk, West Lancashire, was being hunted by theNational Crime Agencyand was finally arrested in an international sting op
