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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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HFC calls off EGM

bycitibusinessnews
January 16, 2015
in Banking And Finance, Business, Top Stories
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HFC bank has called of its Extraordinary General Meeting (EGM).

The EGM which was requisitioned by the Social Security and National Insurance Trust (SSNIT) was scheduled to come off on the 20th of January, 2015.

[contextly_sidebar id=”c7uc5KWmMjrqCDL0WYi3rx8xnRKmVR4F”]The EGM was to remove and replace two non-executive independent directors, Mrs. Muriel Edusei and Mr. Francis Koranteng from the HFC Bank board.

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According to a press statement from the bank the EGM was cancelled after two shareholders of HFC dragged SSNIT, its Director General Ernest Thompson as well as eleven others to court seeking an interlocutory injunction against the EGM.

HFC Bank was recently ordered by the Supreme Court presided over by Justice Atuguba to present their accusation of insider trading by Republic Bank to the Securities and Exchange Commission (SEC) for investigation.

Two directors of HFC Mrs. Muriel Edusei and Mr. Francis Koranteng, have also demanded that HFC bank initiate investigations through the Securities and Exchange Commission on allegations of “insider trading” by the Republic Bank of Trinidad and Tobago before the process of a mandatory takeover of HFC bank commences.

However the Securities and Exchange Commission earlier told Citi Business News that it has not received any form of complaint from HFC as well as the two members of the Board of Directors of HFC Bank over allegations of insider trading.

The Financial Intelligence Centre (FIC) of Ghana yesterday waded into the matter and advised both SSNIT and SEC to investigate the matter and report back to the Centre as soon as practicable.

 

By: Vivian Kai Mensah/citifmonline.com/Ghana

 

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