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    Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte

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    IMF programme won’t affect free SHS, other flagship programmes – Gov’t

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

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    Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte

    Societe General Ghana partners AGF to provide financing solutions for SMEs

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

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    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

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    Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte

    Societe General Ghana partners AGF to provide financing solutions for SMEs

    IMF programme won’t affect free SHS, other flagship programmes – Gov’t

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    E-Levy won’t be terminated because of IMF bailout – Gov’t assures

    Node 8, HTU hold first edition of Node X in Ho

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    ‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah

  • Business
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    Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte

    Societe General Ghana partners AGF to provide financing solutions for SMEs

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

  • TECHNOLOGY

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

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    • Asia
    • Europe
    • Middle East
    • US

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

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

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Prosecutions will begin in August – Receiver for defunct Microfinance & S&Ls firms

byNerteley Nettey
July 15, 2020
in Banking And Finance, Top Stories
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The Receiver for the defunct 347 Microfinance Companies and 23 Savings and Loans Companies and Finance Houses, Eric Nana Nipah, says the government is not only interested in recovering assets and paying depositors, but will also commence prosecutions from August this year.

In an interview with Citi Business News, Mr. Nipah, who has assured a hundred percent payment of depositor claims by end of July, says about 96 percent of all validated depositor claims which stands at 5.4 billion cedis have been settled.

He says with the help of the Economic and Organized Crime Office, EOCO, assets worth about GHC 500 million Cedis have been recovered, adding that the work towards the prosecution from August has been carried out in the last one year.

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“We will also insist on rendering of stewardship not only to demand accountability but to ensure that due course is given to some situations. We have not relented and that is where EOCO comes in. We have been working with EOCO on potential recoveries and prosecutions for close to a year now. EOCO has done extensive work on investigations and we are at the point that as I speak, dockets are being prepared to be passed on to the AG’s department for prosecution beginning August this year” he said.

The financial sector clean-up, which commenced under the Akufo-Addo administration in August 2017, led to the collapse of nine universal banks, 347 microfinance companies on May 31, 2019.

The Bank of Ghana later in August 2019 again revoked the licences of twenty-three (23) insolvent savings and loans companies and finance houses, whiles the Securities and Exchange Commission revoked the licenses of over 50 Fund Management Companies.

According to the bank, this was in pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the Bank of Ghana to revoke the licence of a Bank or Specialised Deposit-Taking Institution (SDI) where the Bank of Ghana determines that the institution is insolvent.”

EOCO freezes assets of defunct Ideal Finance boss, Nii Kotei Dzani

Earlier this year, the Economic and Organized Crime Office (EOCO), froze some 31 accounts and some landed property of Nii Kotei Dzani, as part of efforts to among other things retrieve funds from him to settle customers whose funds are locked up with the defunct company.

Ideal Finance was among the 23 savings and loans and finance houses that lost their licenses after they were declared insolvent by the Bank of Ghana as part of the financial sector clean-up.

 

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Societe General Ghana partners AGF to provide financing solutions for SMEs

IMF programme won’t affect free SHS, other flagship programmes – Gov’t

NPA encourages consumers to lodge complaints of foul play at the pump for redress

Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

E-Levy won’t be terminated because of IMF bailout – Gov’t assures

IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

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