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
-
White House Press Secretary Karoline Leavitt announces birth of baby girl
6 minutes -
IGP’s Cyber Vetting and Enforcement Team arrests 11 for impersonating President Mahama
14 minutes -
Charles Amissah death probe: GRNMA objects to naming of health professionals, cites mental health concerns
19 minutes -
BoG pushes cross-border instant payments to drive Africa’s economic integration
27 minutes -
Rwandan singer dies as he was being released from prison
33 minutes -
MoH sets up technical committee to resolve KBTH laboratory dispute
38 minutes -
Over 5,000 unemployed agricultural graduates push government for recruitment
39 minutes -
US delegation praises Peace and Love Hospital’s breast cancer care efforts in Ghana
43 minutes -
Ghana to fully finance vaccines, critical medicines as Global Fund support winds down- Finance Minister
45 minutes -
Heads of Basic Schools condemn alleged assault on headteacher, teachers by military personnel
57 minutes -
3i Africa made AI the headline. Pan African AI Summit makes it the agenda
59 minutes -
LUV FACT CHECK: Energy Minister’s claim of commissioning new BSP in Kumasi false
1 hour -
SMEs call for improved financing at Ghana Agri-Food Investment Forum
1 hour -
UEW and Penplusbytes train journalists to tackle misinformation and AI-generated fake news
1 hour -
After the final paper: Remembering the child, not just the candidate
1 hour