Audio By Carbonatix
The Bank of Ghana (BoG) says an untraceable investments amounting to ¢116.7 million of collapsed Microfinance Finance Companies (MFCs), Savings and Loans Companies (S&Ls) and Finance House Companies have been identified.
The Central Bank has indicated that it will require the assistance of the Economic and Organised Crime Office (EOCO) to conduct further investigations.
According to the BoG, the highest amount of ¢20.69 million discovered was linked to Accent Financial Services, which placed the said amount with Capital and More Microfinance.
The least amount was ¢533,132 linked to Express Savings and Loans Company and the fund placed with Senaf Investments.
According to the Receiver (Eric Nana Nipah), all attempts to trace the whereabouts of the investment companies have been unsuccessful.
“We are in the process of transmitting a formal request through BoG to EOCO to trace these non-operational institutions and assist with recovery of the funds”, he said.
Latest Stories
-
China sentences former defence ministers to death with reprieve
32 seconds -
Emma Wenani named among Ascent Top 100 Career Women in Africa 2026
5 minutes -
SML trial: High Court grants 6th accused Kwadwo Damoah leave to travel to London
6 minutes -
Korle Bu rejects reports casting doubt on credibility of Central Laboratory services
8 minutes -
Resilience by design: Bank systems that withstand disruption and protect customers
16 minutes -
Fidelity Bank reinforces commitment to leadership development at District 94 Toastmasters Annual Conference
17 minutes -
Maximising the benefits of mining beyond ownership
24 minutes -
Vincent Assafuah endorses Nana B for NPP First Vice Chairmanship
27 minutes -
Emirates posts record $6.6bn profit despite late-year disruption
33 minutes -
Hanan Aludiba released, recalled by EOCO for further procedures
36 minutes -
Central Regional Prisons Command partners Cape Coast Technical University to train inmates in vocational skills
41 minutes -
Ghana now 8th biggest economy in Africa
47 minutes -
Women are Ghana’s underutilised engine of growth—Trade Minister
1 hour -
Final-year male students of Bolgatanga Technical Institute ordered off campus over alleged unrest plot
1 hour -
Government urged to integrate prison education into school feeding programme
1 hour