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Business News of Wednesday, 17 August 2022

Source: www.ghanaweb.com

FULL TEXT: BoG, EOCO collaboration on the resolution of collapsed of banks, SDIs

The Bank of Ghana Headquarters The Bank of Ghana Headquarters

The Bank of Ghana in collaboration with the Economic and Organised Crime Office is set to go after some 17 resolved financial institutions over untraceable investments amounting to GH¢116.7 million.

According to a document released by the central bank, it has identified placements that were made by some Specialized Deposit-Taking Institutions (SDIs) and other investment companies but noted that attempts to trace the whereabouts of these investment companies have been proven unsuccessful.

The document said also pointed out that with clearance from the Bank of Ghana, the Receiver of collapsed Microfinance companies and Special Deposit-Taking Institutions has referred 100 landed properties to EOCO to be investigated to ascertain their ownership status.

This however comprises 68 landed properties relating to five microfinance companies and 32 relating to nine saving and loans firms.

It noted that EOCO has since advised that these companies' accounts are frozen while they conduct their investigations.

Read the full document below:

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