SSNIT halts plans to remove HFC board of directors

Business News of Tuesday, 20 January 2015


Hfc Bank Logo

Plans by Social Security and National Insurance Trust (SSNIT) to remove some directors on the board of HFC Bank have been halted.

This follows the decision by two shareholders to seek a court injunction to stop the emergency gathering by shareholders come Tuesday, January 20.

The Trust was looking at removing the three directors, the board chairman Muriel Edusei, Francis Koranteng a director, and Charles Ofori-Acquah a director.

SSNIT has argued that it wanted to take that move because some of the board members have not acted in the best interest of shareholders. Meanwhile, an Accra High Court is expected to hear the injunction today.