BoG to take action on the seven collapsed banks

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The Bank of Ghana has indicated in a press statement that the persons whose actions contributed to the recent collapse of seven banks, will be made to face the full rigours of the law.


The central bank has expressed its willingness to pursue administrative and civil action against such persons and liaise with relevant investigative and prosecutorial state agencies to take appropriate actions as needed.

According to the statement, the Bank of Ghana has recently established a new office called the Office of Ethics and Internal Investigations to strengthen good governance within the Bank and to promote the highest standards of ethical conduct commensurate with the Bank’s mandate.

The Office will investigate all allegations of misconduct by staff including any role in respect of the collapse of the defunct banks and staff found culpable will be dealt with in accordance with the Bank Of Ghana’s Human Resource policies, and referred to law enforcement agencies, if necessary.

The statement indicated that the Bank of Ghana has recently issued a number of Directives to strengthen corporate governance, risk management, and the capital base of banks, to promote the highest standards of conduct in the industry.

The Bank of Ghana has said that it remains committed to promoting a strong, stable, and viable banking industry built on the values of trust, confidence, and integrity, to support robust macroeconomic development.

Source: GhanaJustice/S.Ayisi


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