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Breaking: BoG collapses 5 banks into Consolidated Bank Ghana Ltd

The Bank of Ghana has collapsed five banks into one bank, Consolidated Bank of Ghana Limited.

The banks are The BEIGE Bank, Sovereign, Construction, UniBank and Royal Bank.

It follows the insolvency of the five banks after investigations by Bank of Ghana.

The BoG Governor, Dr Ernest Addison announced this Wednesday afternoon.

At a press conference, the Governor of the Centre Bank has stated that the Consolidated Bank Ghana Limited is expected to help the government in economic development.

The government has also issued a bond totaling GHc5.6 billion to cater for bad assets of the four banks.

…more to follow soon

About Efo Korsi Senyo | Executive Editor

Efo Korsi Senyo has over 5 years experience working as an investigative journalist with Awake Africa. He is the Executive Editor of Awake Newspaper and Head of Awake Investigates. Efo does not only investigate and publish based on the journalism profession ethics but he also brings legal and civil actions against personalities and institutions he investigated. He said fighting against injustice and corruption in society as the only way for him to avenge injustice and corrupt acts he and other vulnerable people faced and continue to face in society. Efo is also a private investigator, IT expert and entrepreneur. Connect with him via senyo@awakeafrica.com or WhatsApp: +233249155003

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