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Depositors funds remain safe – BoG Governor assures
The Bank of Ghana (BoG) has assured its depositors that their funds remain safe despite challenges that struck the banking sector.
The central bank noted that it will take proactive steps to forestall any actions intended to put the funds of depositors at risk.
In his address at a dinner to mark the 60th-anniversary celebration of the Chartered Institute of Bankers (CIB) held at the University for Professional Studies (UPSA) in Accra, the Governor of the Bank of Ghana, Dr. Ernest Addison, maintained that the Bank of Ghana’s financial system remains intact.
“This notwithstanding, let me use this opportunity to once again assure the public that, on the back of the DDEP and other risks that may emerge in the banking sector, the Bank will continue to closely monitor developments and, where need be, take appropriate and decisive actions to address the same. Also, the Bank will ensure that depositors’ funds remain safe, and that the financial system remains stable and resilient,” he stated.
Additionally, Dr. Ernest Addison expressed confidence that the country’s economy’s progressive rebound, citing factors including a decline in inflation and the exchange rate, serves as favorable conditions for the banking sector to stay afloat.
Meanwhile, the President of CIB, Benjamin Amenumey, revealed that the institute has set up a Banking Sector Professional Development Fund as part of its anniversary celebration to support leadership development.
“The Institute launched a Banking Sector Professional Endowment Development Fund dubbed “60 for 60,” which is GH¢60 million for 60 years. This fund is to support talent and leadership development. I call on our stakeholders: Bank of Ghana, Universal Bank, development partners of the institute to contribute generously to fund this program,” he said.
Source: Citinewsroom.com
Ghana’s First Lady, Lordina Mahama, has made a generous donation to the country’s national female Under-17 and Under-20 teams – Black Maidens and Black Princesses- as they continue preparations for major international assignments.
The donation, made on Friday, May 22, was presented on behalf of the First Lady by the Minister for Gender, Children and Social Protection, Agnes Naa Momo Lartey, at the GFA Technical Centre in Prampram.
The gesture forms part of efforts to motivate and support Ghana’s young female footballers as they prepare to represent the country on the international stage.
The donation included essential food items and toiletries aimed at supporting the welfare and well-being of the players and technical teams.
The donation included cartons of Milo, T-rolls, soft drinks, toiletries, and a range of essential supplies aimed at supporting the welfare of the players, enhancing camp conditions, and easing preparations ahead of their respective assignments.
The Black Maidens are currently engaged in preparations for the FIFA U-17 Women’s World Cup qualifiers and are set to take on Liberia women’s national under-17 football team in the second-leg encounter in Liberia this weekend.
Meanwhile, the Black Princesses have already secured qualification to the FIFA U-20 Women’s World Cup after overcoming Uganda in the qualifiers, extending Ghana’s remarkable record to eight consecutive appearances at the tournament.
The donation by the First Lady was expected to boost morale within both camps while reinforcing national support for the young female footballers who continue to make the country proud.
The prosecution has officially rested its case in The Republic v Solomon Asamoah & Another, the high-profile legal battle commonly referred to as the “Sky Train” case.
The Deputy Attorney General Justice Srem Sai announced the development, praising the state’s team of hard-working prosecutors for successfully anchoring the state’s evidence before the High Court.
The criminal trial centers on the former Chief Executive Officer and the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF).
The duo stands accused of illegally authorizing and paying out US$2 million to a foreign company without obtaining board directives or other mandatory statutory approvals.
State investigators have confirmed that the disbursed millions cannot be found.
Following the closure of the prosecution’s case, the accused persons moved the court for an opportunity to file a submission of no case.
The presiding judge granted the application, ordering the defense to submit their arguments by June 8.
The outcome of the June 8 filings will decide the fate of the trial:
With this, if the judge finds the defense’s submission convincing, the accused will be acquitted and discharged however, If the judge dismisses the submission, the court will order the accused officials to take the stand and explain why they should not face prison sentences.
By Edem Mensah-Tsotorme
