Audio By Carbonatix
The Bank of Ghana (BoG) announced it has taken over the management of a private bank, Unibank which will now be managed by KPMG.
The Governor of the Central Bank explained at a press conference Tuesday that the takeover is due to challenges facing the bank.
He mentioned weak supervisory standards and weak operations as the cause of the challenges.
The Central Bank said Unibank "persistently suffered liquidity shortfalls and consistently breached its cash reserve requirement."
It said the bank has had to fall on the central bank for money to the tune of GH¢2.2 billion since 2016 to enable it to operate.
Below is the chronology of events:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPP’s 2024 Bolgatanga Central Parliamentary Candidate elected Upper East Regional Chairman
4 minutes -
Incumbent Northern NPP Chair wins as new faces break through in party executive elections
8 minutes -
Former Health Minister Okoe Boye elected NPP Greater Accra Regional Chair
23 minutes -
Joseph Kobinah Esibu elected NPP Central Regional Chairman
33 minutes -
Fernandez booed by Chelsea fans as Alonso offers glimpse of blueprint
41 minutes -
PSG sign World Cup winner Torres from Barcelona
49 minutes -
Odeneho Kwaku Appiah beats former EPA boss Kokofu, to emerge NPP Ashanti chair
53 minutes -
TDC defends statutory mandate, says its authority to develop Tema predates TMA
55 minutes -
Ignatius Kwesi Afrifa elected NPP Western Regional Chairman
58 minutes -
Galamsey will be a key issue for NPP’s 2028 campaign – Annoh-Dompreh
1 hour -
Makafui Woanyah retains NPP Volta Regional Chairmanship
1 hour -
Ghana Law Society announces maiden annual Bar conference for September 30
1 hour -
Abronye DC retains NPP Bono East Regional chairmanship
1 hour -
NSMQ 2026: Check out the 147 schools battling in 49 preliminary contests
2 hours -
NPP rebuilding to reclaim parliamentary seats lost in 2024 – Annoh-Dompreh
2 hours