By Classfmonline.com on 2019-05-21 14:45:21
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that there are close to 50 court cases filed by the Receivers of the banks that recently went bust and were amalgamated to form the Consolidated Bank Ghana (CBG) Limited...
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that there are close to 50 court cases filed by the Receivers of the banks that recently went bust and were amalgamated to form the Consolidated Bank Ghana (CBG) Limited.
“I am also reliably informed that the Receivers have fully engaged the judicial system to assist in the recovery of certain assets and monies from some of the shareholders, directors and other loan defaulters of these erstwhile institutions, with about 50 cases currently pending before the courts,” Dr Addison said in a speech at the 4th Ghana CEOs Summit in Accra on Monday, 20 May 2019.
Dr Addison expressed frustration about the processes in recovering assets, such as individuals “resorting to the court system to frustrate the process by engaging in frivolous actions”.
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