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EOCO invites UT, Capital Bank directors over collapse

March 28, 2018 6:28 AM
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EOCO invites UT, Capital Bank directors over collapse

Former Directors of defunct UT Bank will this morning [Wednesday], appear before the Economic and Organized Crime Office (EOCO) to answer questions on their roles in the bank’s collapse.

This follows findings of an investigative report on the collapse of the bank which was submitted to the Bank of Ghana.

The Bank of Ghana in August 2017, revoked the licences of UT and Capital Banks. The two banks were subsequently handed over to Ghana Commercial Bank.

The liabilities of the two banks, according to the central bank, overwhelmed their assets, leaving the BoG with no option but to undertake a purchase and assumption transaction as the least costly method of dealing with a collapse.

Citi News also understands that Managers of uniBank which was recently taken over by the BoG with KPMG as the administrator, will also be invited by EOCO in due course.

Source: citifmonline.com

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