The Bank of Ghana (BoG) has utterly responded to the lies of the former Deputy Governor, Dr.Johnson Asiama regarding the banking sector cleanup. Dr. Asiama who is lobbying to be selected as running mate to John Mahama under whose era the banking crises reached its apex has been moving from one media house to the […]
Public servants who have been affected by the closure of three banks recently, have been advised by the Controller and Accountant General’s Department (CAGD) to open fresh accounts with banks of their choice so they can receive their salaries. It is estimated that 1,975 public servants on the government payroll accessed their salaries through the […]
By Elvis DARKO, Accra Twenty out of the 23 savings and loans companies and finance houses shut down by the Bank of Ghana (BoG) recorded a combined negative capital of GH₵2.3 billion (GH₵2,301,948,311). They are made up of 16 savings and loans companies and seven finance houses. Only Sterling Financial Services Limited did not record […]
The receiver of the 347 insolvent microfinance companies whose licences were revoked on Friday, May 31, 2019, Mr Eric Nana Nipah of Pricewaterhouse Coopers (PwC), plans to institute civil action against owners of the collapsed companies to recover lost funds. This comes as the receiver begins processes to take control of the affected companies. A […]
The Bank of Ghana has answered most of the Frequently Asked Questions (FAQs) on why it revokes the licenses of insolvent micro-finance institutions. Just today, Friday, May 31, 2019, the BoG announced the revocation of the licenses of as many as 347 micro-finance companies. Read the 14 answered questions below: FAQs-Revocation of Licences of Insolvent […]
The Bank of Ghana has revoked the licenses of some 347 microfinance companies which are deemed insolvent, across the country. These actions according to a press release issued by the BoG a while ago were taken pursuant to section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the […]
Governor of the Bank of Ghana (BoG), Dr Ernest Addison says the Ghanaian economy has strong growth prospects, with major indicators pointing in the right direction. With a flourishing private sector, inflation well anchored, and foreign reserves reliable, the Bank of Ghana remains confident the economy is in good health, he added. The governor, who […]
A summary of economic and financial data published by the Bank of Ghana puts the country’s total public debt at GH₵198 billion as at the end of March 2019. This means that GH₵24.8 billion was added to the public debt in the first three months of 2019. While the nominal debt figure continues to rise, […]
The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHc10, GHc20 and GHc50 notes. According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out. New features on the new notes include a gold stripe, a watermark, a […]
The Bank of Ghana will on Monday May 6 2019 introduce upgraded banknotes with enhanced features. The move according to the Central Bank is in line with the evolving changes in the technological landscape. A press release issued by the Bank a while ago, explained that the upgraded banknotes also come with improved durability and […]
The Minister of Finance, Ken Ofori-Atta, has stated that the cedi is performing better under the Nana Addo administration. He explained that the cedi recently suffered some turbulence despite the strong economic fundamentals and improvement in the country’s balance of payments, which the government achieved in the last two years. “It is also noteworthy that […]
Workers of erstwhile Capital Bank and UT Bank are appealing to the Bank of Ghana (BoG) to, at least, offer them a 50% discount on the loans they took while working with their respective banks. Their appeal follows information from the Joint Receivers indicating that their exit pay will be paid without any discount on […]
