The Christian Council of Ghana has called for the prosecution of persons who played various roles in the collapse of seven local banks in the past 12 months.
Speaking at a synod of the Global Evangelical church at the University of Ghana, General Secretary of the Council, Rev Cyril Fayose, said only a thorough investigation and prosecution will help restore the plummeting public confidence in the banking sector.
Last week, the licenses of five universal banks, Royal Bank, Construction Bank, Sovereign Bank, Unibank and BEIGE Bank, were revoked.
The withdrawal of the licence came 12 months after the licences of UT and Capital banks were revoked in August 2017.
Startling details have since emerged pointing to the complicity of Bank of Ghana managers and officials who looked on while basic banking regulations were breached with sustained careless abandon.
Founder of Capital Bank Ato Essien has been indicted in a confidential report sighted by Joy News in which he kept and used 80m cedis of depositors money as his "personal piggy bank".
Some 610m bail-out from the central bank to help Capital bank was mismanaged, the report claims.
Joining in the growing public shock, the Christian Council said it finds it unacceptable that bail-out money which is public funds could end up in pockets of individuals connected with the affected banks.
Photo: General Secretary of the Council, Rev Cyril Fayose
Have your say
More News Headlines
- Veep accident: Injured security personnel, passengers discharged
- Nyantakyi and another freed by court
- 233 communities to benefit from grid expansion in Ashanti Region
- Meteorological Agency gets 10 automatic weather stations
- 'Tinder for cows' matches livestock in the mood for love
- Establish counselling departments in schools – GNACC
- Spousal violence is a crime report all cases – CHRAJ
- Vice President involved in accident, one dead
- Photos: Hungary opens consulate in Kumasi
- GNPC CEO, Board Chair in turf war over Procurement Manager hiring
- Woman goes viral for reviewing brands of soap on how good they taste
- Short Commission: Police testimonies show breakdown in command, control – Bentil
- Manhyia widows praise Opoku-Prempeh
- Luxury car owners, others to protest tax
- This company will confess to your crush if you’re too shy to do it yourself