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Ghana: Press focuses on prosecution of directors of collapsed banks

The Ghanaian press on Thursday focuses on the prosecution of some 50 directors of seven banks which collapsed recently in Accra.The Daily Graphic says the receivers of seven failed banks have started legal action against 50 directors and shareholders for their roles in the collapse of the banks.

The banks are Unibank Ghana Ltd, UT Bank, Capital Bank, The Royal Bank, the Construction Bank, the Beige Bank and the Heritage Bank.

A Special Investigative Team (SIT) set up to probe financial crimes in the country has also referred some dockets on some members of staff of the defunct banks to the Attorney General’s Office for advice and possible prosecution.

The Ghanaian Times, for its part, said President Nana Akufo-Addo has revealed that recent reforms in the banking sector has started yielding positive result.

He noted that the industry recorded growth in terms of total assets, total deposits, and net loans and advances as at the end of the first quarter.

He noted that the Bank of Ghana report for the first quarter has showed a well-capitalised profitable, liquid, and stable sector with strong prospects for increased financial intermediation.

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