Collapse Banks: BoG To Published Names Of Staff Involved Soon

The Bank of Ghana has disclosed its readiness to publish a report that will show members of the central bank who played a role in the collapse of seven banks.

The move according to BoG is aimed at helping the Bank of Ghana promote ethical behavior among its staff.

On the second Day of the 20th anniversary celebration of the Securities and Exchange Commission, Speaking to journalists, Second Deputy Governor of the Bank of Ghana, Elsie Awadzi stated that the exercise will enhance accountability.

She stated that it is time for the Bank of Ghana to look within itself and punish officers whose actions contributed to the collapse of the seven banks.

“This is going to help the Bank of Ghana to promote ethical behaviour within the bank itself to ensure that our own staff and management are all adhering to the best practices in ethical behaviour”.

She explained that the investigations were conducted by the Ethics and Internal Investigations office of the Bank of Ghana.

Mrs. Awadzi maintained that it is important for the Bank of Ghana to undertake such an exercise to prevent a recurrence in the future.

“This will ensure that we ourselves are standing strong as we regulate the banks. This Office of Ethics and Internal Investigations has particularly also investigated the collapse of the seven banks to show whether staff of the Bank of Ghana was involved”.

She disclosed that the BoG has already notified the Institute of Chartered Accountants to investigate its members whose actions also contributed to the collapse of the banks.

She maintained that it is very important to name and identify everybody whose action led to the collapse of the seven banks.