Category: Government
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Auditor-General blocks salaries of some head of state institutions
The Auditor-General, Daniel Domelevo has revealed that salaries of some heads of public institutions who delayed in responding to observations contained in audit reports have been frozen. The directors of some state institutions were given up to 30 days to respond to the observations contained in an audit report on their institutions. However, most of…
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![Lack of vocational, tech graduates affecting furniture industry [audio report]](https://citibusinessnews.com/wp-content/uploads/2018/09/fur-1.jpg)
Lack of vocational, tech graduates affecting furniture industry [audio report]
Producers of local furniture in the country fear that there will soon be no apprentices left to sustain the industry. In their view, the lack of emphasis on vocational and training education where the new entrants can be trained and existing ones can upgrade their skills is the bane of the industry. The situation has…
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Banking sector cleansing is for stronger local banks–Nana Addo
President Akufo Addo has stated that his vision for the banking sector is to have few but stronger local banks which can compete with their foreign counterparts. He has disputed claims suggesting that the administration is looking at creating avenues for foreign banks to thrive at the expense of local ones. Many arguments seeking the…
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Cyber crime rises but industry recovers GH¢160m in 2017
An estimated 80% of the value of all cyber fraud cases was recovered in 2017, the Bank of Ghana has stated. However, instances of cyber fraud continue to rise as the figure went up by about 42% between 2016 and 2017. The central bank is therefore embarking on new strategies to reduce the crime to…
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‘Gov’t must probe $9.8m oil revenue loss’ – Steve Manteaw
The Chairman of the Public Interest and Accountability Committee (PIAC), Steve Manteaw has asked the government to investigate circumstances under which the country lost some $9.83 million as a result of underpricing of some oil products by the Ghana National Petroleum Corporation (GNPC). Mr. Manteaw believes a “mere directive” by the Finance Minister, Ken Ofori…
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‘It makes no sense to deliberately collapse local banks ‘ – Akufo-Addo
President Akufo-Addo has said that his government is not on a deliberate mission to collapse the country’s indigenous banks. Speaking for the first time on the recent shake-up in the banking sector that has resulted in the collapse of seven local banks, he said the moves are necessary to streamline the sector and strengthen it.…
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Ghana’s Pension laws must be reviewed-Dr. Nduom
Dr. Papa Kwesi Nduom, Board Chairman of GN Bank has reiterated calls for a revision of the pension law in Ghana, to enable pension funds to be used in helping local banks meet the Central Bank’s minimum capital requirement of 400 Million Ghana Cedis. The Bank of Ghana has given all universal banks in the…
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Ofori-Atta questions GNPC boss over $9.8m oil revenue loss
The Minister for Finance, Ken Ofori-Atta, has asked the Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr. K.K Sarpong to explain circumstances that led to the country losing $9.83 million in oil revenue, as a result of under-pricing of oil products by the Corporation. The Minister is demanding that the GNPC answers…
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Access Bank introduces Remita Payroll processing solution
Customers and non-customers of Access Bank can now say goodbye to the difficult and unending hours spent to process their payroll, payments, reporting and reconciliations with the introduction of Remita Payroll. This has been made possible through a strategic alliance between Access Bank, one of Ghana’s leading retail banks, and SystemSpecs, a pioneer software development…