Bank scandal: Prosecute directors – Christian Council


The Christian Council of Ghana wants the Central Bank to go beyond closing down banks over irregularities to prosecuting officials.

The Bank of Ghana has closed down seven banks so far for allegedly breaching financial regulations – UT, Capital, Beige, Construction, Sovereign, Royal, uniBank. It recently amalgamated five of the local banks into the Consolidated Bank of Ghana.

Speaking at the Global Evangelical Church’s 2018 Synod, the General Secretary of the Christian Council of Ghana, Cyril Fayose, commended the Governor of the Bank of Ghana, Dr Ernest Addison, for the sweeping reforms and the exposure of corrupt practices in the banking sector.

Additionally, he called on State security institutions to conduct further investigations beyond what the Central Bank has done and prosecute all persons who may be implicated to deter others.

“The Christian Council wants to commend the governor of the Bank of Ghana and his team for exposing the rot in the banking system in Ghana and for actually closing down seven of the banks,” Fayose stated.

He added: “We also want to place on record that all those found culpable in this matter ie staff of BoG or directors of the closed banks should be prosecuted because the amount of money that we hear has gone into bailing out of these banks could be used for a lot of social interventions in this country.”

Touching on developments at the Electoral Commission, he said the removal of the former EC Chairperson Charlotte Osei was unfortunate.

He, however, wished the new EC boss, Jean Mensa, well as she goes about her work in her new role.

Source: Ghana/

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