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GSE revokes licences of two companies
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The Ghana Stock Exchange (GSE) has revoked the licences of Liberty Securities Limited (LSL) and First Atlantic Brokerage Limited (FABL).
According to the GSE, the decision to expel the two companies was due to the various infractions with respect to rules of operations on the exchange.
A press statement issued by the GSE said LSL and FABL would not be able to execute trades on the market, provide advisory services to clients on capital market issues, and hold in lien or in trust clients’ accounts or their security holdings, in accordance to Rule 78 of the GSE Dealing Membership Rules.
Rule 78 of the GSE Dealing Membership Rules requires a member of the Exchange to comply with the prevailing requirements of the Securities and Exchange Commission in respect of capital, liquidity, reports and returns.
In the case of FABL, the regulator noted that, the company had operated without an Authorised Dealing Officer (ADO) for more than three months.
In addition, the company’s financial status showed a significant deterioration in its operations, resulting in successive negative returns which have eroded shareholders’ funds, the statement said.
The FABL is in breach of regulation 22 of the SEC Regulations, 2003 (L.I. 1728), which requires a Broker-Dealer to maintain at any given time, minimum liquid fund amounting to at least 20 per cent of the aggregate indebtedness of the Broker-Dealer, the statement added.
Similarly, LSL were found to be operating without an ADO for more than three months, contrary to Rule 6(j) of the GSE Dealing Membership Rules.
Moreover, they had low net shareholders’ fund balance and low liquidity position and had been inactive on the market due to the lack of ADO to execute trades.
For customers of the now defunct stock traders, the Exchange said procedures have been provided for them to transfer their security accounts and security holdings to any LDM of their choice.
The GSE had also provided a help desk or a correspondence officer to each LDM to respond to clients’ issues.
Source: Ghanaian Times
The Accra Regional Police Command has arrested former professional boxer Michael Ayitey Okai, popularly known as “Ayitey Powers,” over an alleged threat of death against the Director-General of the National Sports Authority, Yaw Ampofo.
According to the Police, the 46-year-old former boxer was arrested on Monday, August 24, 2026, in connection with the alleged threat.
The Police said the arrest followed a video circulating on social media in which Ayitey Powers is alleged to have issued the threat against Mr Ampofo.
He is currently in Police custody and is assisting with investigations.
The Accra Regional Police Command said investigations are ongoing to establish the circumstances surrounding the alleged threat and determine the appropriate action to be taken in accordance with the law.
The Command has urged the public to refrain from sharing unverified information about the matter while the investigation continues.
By: Jacob Aggrey
Minority Leader in Parliament Alexander Afenyo Markin has sued the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, and Multimedia Group Limited over alleged defamatory comments made against him on the Newsfile programme.
In a writ filed at the High Court in Accra, Mr Afenyo Markin is seeking GH¢15 million in damages, an apology and retraction of the statements, among other reliefs.
The suit follows comments allegedly made by Mr Gyamfi during the Saturday, August 22, 2026 edition of Newsfile, hosted by Samson Lardy Anyenini.
According to the statement of claim, Mr Gyamfi described Mr Afenyo Markin as an “extortionist” while responding to a question about GoldBod’s reported profits and its position on losses arising from its operations.
The plaintiff claims that Mr Gyamfi repeated the allegation when the host sought clarification on whether he stood by the description.
Mr Afenyo Markin further claims that Mr Gyamfi challenged him to sue him and insisted that the allegation was true.
The plaintiff argues that the statements created the impression that he engages in extortion, uses his political influence to put improper pressure on public institutions and officials, and conducts himself in a manner inconsistent with the standards expected of a lawyer and public office holder.
He denies the allegations and maintains that he is not an extortionist and has never engaged in the conduct alleged by Mr Gyamfi.
The Minority Leader also argues that the comments were made maliciously and were presented as facts without evidence being disclosed.
He claims the statements have damaged his reputation, professional standing and public image, particularly because of his position as a senior political figure and legal practitioner.
The suit also names Multimedia Group Limited as a defendant because, according to the plaintiff, the alleged defamatory comments were broadcast through JoyNews and subsequently circulated on social media platforms, including X, Facebook and YouTube.
Mr Afenyo Markin claims Multimedia failed to stop the comments or deactivate Mr Gyamfi’s microphone after the allegations were made.
He is therefore asking the court to award him general, aggravated and exemplary damages, as well as GH¢15 million in compensation and legal costs.
He is also seeking an order compelling the defendants to issue a full, unconditional and unequivocal retraction and public apology.
The plaintiff wants the apology and retraction to be given similar prominence and reach as the original publication, including through JoyNews and the social media platforms where the comments were disseminated.
He is further seeking a permanent injunction preventing the defendants from repeating the alleged defamatory statements or words with a similar meaning.
The writ requires the defendants to enter an appearance within eight days after being served.
It warns that failure to do so could result in judgment being entered in their absence.
The case was filed by lawyer Paa Kwesi Abaidoo of Dehyena Chambers on behalf of Mr Afenyo Markin.
By: Jacob Aggrey
