• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

BoG Governor Dissatisfied With Recovery Of Monies

blacksonrise by blacksonrise
February 3, 2020
in Africa Business
0
BoG Governor Dissatisfied With Recovery Of Monies
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has described as unimpressive the slow rate at which the Receiver of the defunct financial institutions is recovering some targeted monies.

Dr. Addison noted that out of more than GHS16 billion spent on some banks to protect depositor’s funds, only a little over eight percent has been recovered by the Receiver.

To recover the funds, the Receiver has commenced the auctioning of properties of the affected defunct banks to recoup money for depositors.

However, at a press conference to announce recent policy rate, the Governor of the Bank of Ghana said although the effort to retrieve depositors’ funds is there, the progress in terms of the amount of money being recovered is slow.

“The Receiver has been able to make some recoveries. They are not as impressive as we had expected. Last time I checked, about GHS1.4 billion has been recovered. Now we are looking at the loan portfolio of these banks that were resolved and it was over GHS16 billion. So if you’ve recovered just GHS1.4 billion out of the GHS16 billion, it tells you that there is a lot of work that has to be done. So yes the effort is there but progress in terms of the money that they are recovering is slow,” he observed.

Background

The Bank of Ghana in May and August last year [2019] revoked the licenses of 347 microfinance and microcredit companies and 23 Savings and loans and finance houses for various regulatory infractions.

Advertisements

The Receiver for these collapsed financial institutions began the auction for vehicles and motorbikes of institutions today [Monday, February 3, 2020].

The exercise which is to take place for five days [Monday, 3 February 2020 – Friday, 7 February 2020] forms part of measures to defray monies due the affected customers of the collapsed financial institutions.

Under the auspices of the Receiver, Eric Nana Nipah, the auction is being carried out by three firms; Wildos Mart, Yakarmata Mart and Broadway Mart.

—citinewsroom

Credit: Source link

Previous Post

Macy’s Unveils Black History Month-themed Windows and Kicks off National Tour

Next Post

A 'Hamilton' Movie Is Coming To Theaters With The Original Broadway Cast

Next Post
A ‘Hamilton’ Movie Is Coming To Theaters With The Original Broadway Cast

A 'Hamilton' Movie Is Coming To Theaters With The Original Broadway Cast

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

BEMAWU threatens strike action at the SABC – SABC News
Africa Business

BEMAWU threatens strike action at the SABC – SABC News

January 14, 2021
Africa: Innovating for Mothers Challenge launched to improve maternal and newborn health care in Senegal
African News

Africa: Investing in Africa – There Is More Than Just FDI

January 13, 2021
Caribbean Life: Brooklyn Edition: January 15, 2021
Caribbean News

Caribbean Life: Brooklyn Edition: January 15, 2021

January 15, 2021
Photos of the day: January 11, 2021
Caribbean Business

Photos of the day: January 11, 2021

January 11, 2021
Cancer deaths down for second year in a row, but impact of COVID remains unknown | WMAY
African American News

Cancer deaths down for second year in a row, but impact of COVID remains unknown | WMAY

January 14, 2021
COVID-19 remains a threat for Impala Platinum mineworkers – SABC News
Africa Business

COVID-19 remains a threat for Impala Platinum mineworkers – SABC News

January 10, 2021
Bad accidents continue on Eleuthera…
Caribbean News

Bad accidents continue on Eleuthera…

January 10, 2021
Africa: Innovating for Mothers Challenge launched to improve maternal and newborn health care in Senegal
African News

Africa: How Will Africa Remember Donald Trump? Here Is How

January 15, 2021
HOT AT HAITI! – Caribbean Life News
Caribbean News

HOT AT HAITI! – Caribbean Life News

January 13, 2021
Rate of new positive cases increased since holiday
African American News

Rate of new positive cases increased since holiday

January 10, 2021
NPP Ashanti Region thank Akufo-Addo for retaining Frema Opare
African News

NPP Ashanti Region thank Akufo-Addo for retaining Frema Opare

January 14, 2021
The F.A.A. and airlines crack down on unruly passengers ahead of Joe Biden’s inauguration.
African American News

The F.A.A. and airlines crack down on unruly passengers ahead of Joe Biden’s inauguration.

January 14, 2021
South Africa records over 10,000 cases
Caribbean News

Cuba reports record number of daily COVID-19 cases

January 9, 2021
Kenya drops charges against officials due to testify against ex-finance minister – SABC News
African News

Kenya drops charges against officials due to testify against ex-finance minister – SABC News

January 12, 2021
National anthem change first step towards greater inclusivity in sport
Aboriginal Australia News

National anthem change first step towards greater inclusivity in sport

January 11, 2021
Mullagh Medal a fitting tribute
Aboriginal Australia News

Mullagh Medal a fitting tribute

January 10, 2021
Opinion | There’s a Term for What Happened at the Capitol This Week: ‘Whitelash’
African American News

Opinion | There’s a Term for What Happened at the Capitol This Week: ‘Whitelash’

January 9, 2021
Why AMResorts Is Bullish on Curacao and Cozumel
Caribbean News

Why AMResorts Is Bullish on Curacao and Cozumel

January 10, 2021
Frances Tiafoe advances at Delray Beach Open
Caribbean News

Frances Tiafoe advances at Delray Beach Open

January 10, 2021
I will bring back trade schools
Caribbean Business

I will bring back trade schools

January 10, 2021

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • US executes drug trafficker despite Covid-19 – News
  • Social Media App “MelaninPeople” Designed to Connect Black People
  • ‘I was elected Speaker with 138 votes’ – Bagbin

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

USD $
  • USD USD $
  • EUR EUR €
  • GBP GBP £