The Bank of Ghana (BoG) says an untraceable investments amounting to ¢116.7 million of collapsed Microfinance Finance Companies (MFCs), Savings and Loans Companies (S&Ls) and Finance House Companies have been identified.
The Central Bank has indicated that it will require the assistance of the Economic and Organised Crime Office (EOCO) to conduct further investigations.
According to the BoG, the highest amount of ¢20.69 million discovered was linked to Accent Financial Services, which placed the said amount with Capital and More Microfinance.
The least amount was ¢533,132 linked to Express Savings and Loans Company and the fund placed with Senaf Investments.
According to the Receiver (Eric Nana Nipah), all attempts to trace the whereabouts of the investment companies have been unsuccessful.
“We are in the process of transmitting a formal request through BoG to EOCO to trace these non-operational institutions and assist with recovery of the funds”, he said.
Latest Stories
-
Joy FM listeners criticise Achiase Commanding Officer’s election comment
9 mins -
Legal Aid Commission employees threaten strike over poor working conditions
11 mins -
Ghana ranked 7th globally as biggest beneficiary of World Bank funding
21 mins -
IMF board to disburse $360m to Ghana in December after third review
25 mins -
Former Bono Regional NPP organiser donates 13 motorbikes to 12 constituencies
31 mins -
Securities industry: Assets under management estimated at GH¢81.7bn in quarter 3, 2024
36 mins -
Gold Fields Ghana Foundation challenges graduates to maximise benefits of community apprenticeship programme
2 hours -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
2 hours -
Boost for education as government commissions 80 projects
3 hours -
NAPO commissions library to honour Atta-Mills’ memory
3 hours -
OmniBSIC Bank champions health and wellness with thriving community walk
3 hours -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
3 hours -
NDC supports Dampare’s ‘no guns at polling stations’ directive
3 hours -
Police officer interdicted after video of assault goes viral
3 hours -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
3 hours