Bank Of Ghana Takes Over Unibank

uniBank has sad news for its customers.

The Bank of Ghana announced that it has taken over the management of the private bank, Unibank.

Reasons for the takeover of UniBank by Bank of Ghana

Furthermore, the Governor of the central bank explained the reasons at a press conference. Moreover, the takeover is due to challenges facing the bank.

Also, he mentioned weak supervisory standards and weak operations as the cause of the challenges.

Furthermore, Ernest Addison said the bank provided inaccurate data on the central bank’s effort to resolve the problems.

However, he assured depositors their money is safe. They stressed that “we are not liquidating the bank, we are saving it.”

Also, the take-over comes weeks after Unibank announced its ADB news.

This executive management are expected to give way to new control.

Kwabena Duffour founded the bank was founded in 1997. Later, he became Finance minister under the Mills administration. Also, he used to be a governor of the Bank of Ghana.

However, after 20 years of private management, he loses control of unibank to his former employers.