ADVERTISEMENT
  • Home
  • News
  • Showbiz
  • Sports
  • World
YawaNews
  • Home
  • News
  • Showbiz
  • Sports
  • World
No Result
View All Result
  • Home
  • News
  • Showbiz
  • Sports
  • World
No Result
View All Result
YawaNews
No Result
View All Result
Home News

BoG exposed in court

November 2, 2024
in News
Ghana’s economy is doing well – “Clueless” BoG boss says despite severe hardship

Former Governor of the Bank of Ghana Dr Ernest Addison

0
SHARES
Share on FacebookShare on Twitter

In a landmark decision, the Accra High Court deemed the Bank of Ghana’s (BoG) actions against CDH Savings and Loans as “unfair and unreasonable,” citing the rushed demands placed on the company as procedurally unjust.

ADVERTISEMENT

Justice Brew, presiding over the case, ruled that BoG’s two-week ultimatum for CDH to liquidate assets to address liquidity issues was overly stringent and did not provide the company adequate time to comply.

The decision highlighted BoG’s failure to follow a fair administrative process, as required under Article 23 of Ghana’s 1992 Constitution, which mandates fairness in administrative actions.

RelatedPosts

As difficult as it is, dumsor levy is a necessary evil – Kwame Jantuah

Watch – Kufuor and Otumfuo narrate how Rawlings arrested an old woman for hoarding drinks

You imposed 30 taxes now waxing lyrical about dumsor levy – Kwakye Ofosu slams Bawumia

BoG initially revoked CDH’s license in August 2019, attributing the action to the company’s inability to fulfill depositor withdrawal requests due to liquidity problems.

CDH’s shareholders, CDH Financial Holdings Limited, contested the BoG’s move, arguing that the deadline imposed was unattainable and ultimately led to the revocation without reasonable consideration. In supporting CDH’s stance, the court emphasized the need for BoG to exercise fairness and due process when regulating financial institutions.

The court has now directed the dispute to be resolved through arbitration, encouraging BoG and CDH to reach a mutual agreement. This ruling underscores the importance of regulatory fairness, setting a precedent for the treatment of other financial institutions facing regulatory intervention in Ghana’s banking sector.

Tags: Bank of Ghana
ShareTweetPin
Previous Post

Bright Simons decends heavily on ‘white elephant’

Next Post

Okudzeto Ablakwa assists SHS students in North Tongu with mattresses, chop boxes, food items

Next Post
Okudzeto Ablakwa assists SHS students in North Tongu with mattresses, chop boxes, food items

Okudzeto Ablakwa assists SHS students in North Tongu with mattresses, chop boxes, food items

Recent Posts

  • As difficult as it is, dumsor levy is a necessary evil – Kwame Jantuah
  • Watch – Kufuor and Otumfuo narrate how Rawlings arrested an old woman for hoarding drinks
  • You imposed 30 taxes now waxing lyrical about dumsor levy – Kwakye Ofosu slams Bawumia
  • Video – ‘Foos’ seller arrested on UG campus with explicit videos of female customers
  • Mahama has no power to instruct security agencies not to hold people accountable – Ofosu Kwakye

Recent Comments

No comments to show.
  • Email: YawaNewsgh@gmail.com
  • Contact Us
  • About Us
  • Privacy Policy
  • SiteMap
WhatsApp ONLY : +233 20 241 7018

© 2024 YawaNews

No Result
View All Result
  • Home
  • News
  • Showbiz
  • Sports
  • World

© 2024 YawaNews