Posted: Thursday 27th March 2014 at 12:00 pm

BoG Denies Existence of A Judgement Debt Account

The Sole Commissioner has subpoenaed the Controller and Accountant General’s Department to appear before the Commission to answer questions on the alleged existence of a judgement debt account.

This follows a denial by the Bank of Ghana (BoG) that there is a designated account for the payment of judgment debts to individuals.

This came to light when officials of the central bank appeared before the Sole Commissioner, Justice Yaw Appau on Wednesday.

The Controller and Accountant General’s department last year told the Judgment Debt Commission about a special account at the central bank, through which it directed the payments of judgment debts.

But at Wednesday’s sitting, the Deputy Chief Manager at the Banking Department of the BoG, Gabriel Bokor, explained that the account the Controller and Accountant’s General’s Department referred to was rather a five-year treasury bond monitoring account.

“The account number that has been quoted is a five-year Treasury bond account number…and we don’t have any special account for judgment debt.”

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