Bank of Ghana has denied social media rumours that its intended clean-up of the Rural and Community banks sector will cause depositors to lose their funds.
According to the Central Bank, the clean-up exercise is only directed at insolvent financial institutions which are not able to meet depositor withdrawals.
Head of Other Financial Institutions and Supervision Department of the Bank of Ghana, Kofi Amoah-Awuah told Nathaniel Nartey that processes are already underway to pay depositors once their claims have been validated.
