Special prosecutor commence investigations into banking sector crisis
The Office of the Special Prosecutor (OSP) headed by Kissi Agyebeng, has announced that it has commenced investigations into the banking and financial sector crisis which resulted in the collapse of some banks and other financial institutions in the country.
Per a statement issued by the OSP on Tuesday, January 25, its investigations will focus on corruption-related offences perpetrated by officials of the Bank of Ghana, banks, SDIs and other financial institutions.
“The investigations target alleged corruption and corruption-related offences perpetrated by officials of the Bank of Ghana, banks, specialised deposit-taking institutions and financial holding companies,” read parts of the OSP statement.
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“The OSP invites members of the public who have knowledge of the commission of corruption or corruption-related offences to lodge complaints with the OSP against any official in this regard. The OSP assures the public that all necessary and reasonable steps shall be taken to protect the safety and welfare of all informers, whistleblowers and witnesses. Any official found culpable and complicit would be arrested and prosecuted,” it added.
At least eight universal banks had their licences revoked and over 200 microfinance and savings and loans companies were shut down as a result of insolvency and other regulatory breaches in the financial sector clean-up exercise embarked by government in 2017.
Gvernment is reported to have spent over GHS 21 billion in the clean-up exercise in re-payment of locked-up funds of affected customers.
Read details of press release below:
