There have been revelations by the Central Bank detailing what auditors term “willful deceit” on the part of shareholders and directors of defunct UT and Capital Banks.
A 2014 Bank of Ghana (BoG) Examination and Inspection Report by Boulders and Advisors Limited also found that there was a significant amount of inter-group lending within the two banks.
Connected party loans were also made to:
- Ibrahim Mahama's related Companies amounting to ¢261.4 million and $6.4 million
- Quincy Sintim's related companies, amounting to ¢84.1 million
- Beige Group's related companies amounting to ¢10.9 million
The infographic below details how Capital Bank was licensed and how it used bailout funds the BoG gave it when it was distressed.
Have your say
More News Headlines
- Love potion for sale: Herbalist claims to possess powers that prevent divorce
- I don’t know why my men wore masks - SWAT Commander Azugu
- 'My boys overacted' – SWAT commander tells Short Commission
- Komla Dumor family outlines 5th-anniversary plans
- 6 new districts to be inaugurated on Tuesday
- Newspaper headlines: Monday, February 18, 2019
- Ghana Publishing Company, KNUST sign deal to promote research, skills dev’t
- Ghanaian engineers urge gov’t to intensify investment in technology, innovation
- GIS to begin nationwide crackdown on landlords renting out to ‘illegal residents’
- Top UK high schools to recruit students, footballers in Ghana
- Woman goes viral for reviewing brands of soap on how good they taste
- 5 best trips for solo travellers
- UN experts urge govt to ensure justice for slain Ahmed
- Photos: 2 passengers allegedly raped, others robbed at gunpoint
- Veep accident: Injured security personnel, passengers discharged