{"id":683654,"date":"2019-08-16T19:16:41","date_gmt":"2019-08-16T19:16:41","guid":{"rendered":" <br><div data-io-article-url=\"https:\/\/www.adomonline.com\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\/\">\n            <div class=\"td-post-featured-image\"><figure><img width=\"696\" height=\"370\" class=\"entry-thumb td-modal-image\" s"},"modified":"2019-08-16T19:16:41","modified_gmt":"2019-08-16T19:16:41","slug":"bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/16\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\/","title":{"rendered":"BoG collapses Dr Duffuor&#8217;s Unicredit Savings and Loans Limited, 22 others"},"content":{"rendered":"<p><\/p>\n<div data-io-article-url=\"https:\/\/www.adomonline.com\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\/\">\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"370\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/Dr.-Ernest-Addison-BoG-Governor-Copy-696x370.jpeg\"   alt=\"\" title=\"Dr.-Ernest-Addison-BoG-Governor (Copy)\"\/><figcaption class=\"wp-caption-text\">Dr Ernest Addison, BoG Governor<\/figcaption><\/figure>\n<\/div>\n<p>The Bank of Ghana (BoG) has revoked the licences of 23 insolvent savings and loans companies and finance house companies. <\/p>\n<p>The affected companies include Dr Kwabena Duffuor\u2019s Unicredit Savings and Loans Limited and Dr Papa Kwesi Nduom\u2019s GN Savings and Loans Limited.<\/p>\n<p>The Bank of Ghana has also appointed Eric Nipah as a Receiver for the specified institutions in line with section 123 (2) of Act 930.<\/p>\n<p>According to a statement from BoG, \u201cthe revocation of the licences of these institutions has become necessary because they are insolvent even after a reasonable period within which the Bank of Ghana has engaged with them in the hope that they would be recapitalised by their shareholders to return them to solvency.<\/p>\n<p>\u201cIt is the Bank of Ghana\u2019s assessment that these institutions have no reasonable prospects of recovery, and that their continued existence poses severe risks to the stability of the financial system and to the interests of their depositors.<\/p>\n<p>\u201cThese actions were taken pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the Bank of Ghana to revoke the licence of a Bank or Specialised Deposit-Taking Institution (SDI) where the Bank of Ghana determines that the institution is insolvent.\u201d<\/p>\n<p><strong>Below is the list:<\/strong><\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/7681414360128_7940362323437.JPG\" alt=\"\"\/><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr Ernest Addison, BoG Governor The Bank of Ghana (BoG) has revoked the licences of 23 insolvent savings and loans companies and finance house companies. The affected companies include Dr Kwabena Duffuor\u2019s Unicredit Savings and Loans Limited and Dr Papa Kwesi Nduom\u2019s GN Savings and Loans Limited. The Bank of Ghana has also appointed Eric [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":683655,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-683654","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG collapses Dr Duffuor&#039;s Unicredit Savings and Loans Limited, 22 others - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/08\/16\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BoG collapses Dr Duffuor&#039;s Unicredit Savings and Loans Limited, 22 others - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison, BoG Governor The Bank of Ghana (BoG) has revoked the licences of 23 insolvent savings and loans companies and finance house companies. The affected companies include Dr Kwabena Duffuor\u2019s Unicredit Savings and Loans Limited and Dr Papa Kwesi Nduom\u2019s GN Savings and Loans Limited. The Bank of Ghana has also appointed Eric [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr.-Ernest-Addison-BoG-Governor-Copy.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"BoG collapses Dr Duffuor&#8217;s Unicredit Savings and Loans Limited, 22 others\",\"datePublished\":\"2019-08-16T19:16:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/\"},\"wordCount\":221,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/Dr.-Ernest-Addison-BoG-Governor-Copy.jpeg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/16\\\/bog-collapses-dr-duffuors-unicredit-savings-and-loans-limited-22-others\\\/\",\"name\":\"BoG collapses Dr Duffuor's Unicredit Savings and Loans Limited, 22 others - 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