Bank Bust: 2K CBG security men lose jobs

Over 2,000 security men working for the now-defunct five local banks which have been morphed into the Consolidated Bank Ghana, have been laid off, as part of a restructuring process...


Over 2,000 security men working for the now-defunct five local banks which have been morphed into the Consolidated Bank Ghana, have been laid off, as part of a restructuring process.

The security men who were under ACS security services limited, were fired after management of the bank revoked the contract of the security firm.

In the case of the now-defunct The Beige Bank, ACS Security Services Limited deployed four security guards to each of the over 90 branches with two operating in the day and the others for night.

A document by Consolidated Bank Ghana Limited revealed that Vizico Security Company Limited has now been engaged for that same purpose.

On 20 March 2018, government announced the takeover of uniBank due largely to liquidity challenges.

Announcing the takeover, the Governor of the BoG, Dr Ernest Addison, said uniBank was insolvent.

The licences of the other banks (Construction, Sovereign, Royal) were also revoked on grounds that some of them used suspicious information in setting themselves up, while others were insolvent.

The Government of Ghana is spending in excess of GHS8 billion in rescuing the defunct banks.

Finance Minister Ken Ofori-Atta said recently that the actions of the BoG saved over 50,000 jobs.


Source: Ghana/ClassFMonline.com/91.3FM



Related Posts

Nurses begin licensing exams

'Mahama boys' roast Yankah over comeback comment

Bank Bust: Respect workers' rights – LPi

$50bn Bond: Akufo-Addo govt visionless – Adongo

Rethink your comeback – Kojo Yankah to Mahama

Non-performing loans hit GH¢8.7bn

No firm decision yet on 100-yr $50bn bond – Oppong Nkrumah

Bank Bust: 2K CBG security men lose jobs

Leave a reply
your email address will not be published

Featured Posts

US Open 2018: Federer knocked out by Australian John Millman


54,000 NaBCo-ers start work; 5 modules begin Oct. 1


'Mahama boys' roast Yankah over comeback comment


Aretha Franklin's family unhappy with eulogy given at her funeral


Apple sets up a replacement programme for defective iPhone 8 devices


Nurses begin licensing exams


54,000 NaBCo-ers start work; 5 modules begin Oct. 1


54,000 NaBCo-ers start work; 5 modules begin Oct. 1


Aretha Franklin's family unhappy with eulogy given at her funeral


Apple sets up a replacement programme for defective iPhone 8 devices


54,000 NaBCo-ers start work; 5 modules begin Oct. 1


Apple sets up a replacement programme for defective iPhone 8 devices


Nurses begin licensing exams


Nurses begin licensing exams