28 C
Accra
Wednesday, April 14, 2021
No menu items!

BoG moves to complete revocation of microfinance firms

Must Read

Minister of Roads and Highways directs contractors to deal with encroachers on major roads

Minister of Roads and Highways, Kwasi Amoako Atta has directed contractors working on major roads in the country not...

ACEP uncovers massive illegal electricity connections; calls for overhaul of ECG meter distribution system

The Africa Center for Energy Policy (ACEP), has called for an overhaul of the distribution system of the Electricity...

ECG staff demand immediate dismissal of Managing Director

Junior and Senior Staff of the Electricity Company of Ghana have called for the immediate removal from office of...

The Receiver of the 347 collapsed microfinance companies, Eric Nana Nipah says he will complete the assessment of the institutions within 10 days.

The Bank of Ghana appointed Nana Nipah, a Director of PricewaterhouseCoopers as Receiver for the microfinance companies whose licences were recently revoked.

A statement issued and signed by Nana Nipah explained that as part of his duties, he is to recover and maximise asset realisations for the benefit of creditors including depositors of the microfinance companies.

He said he is also required to distribute realisations in accordance with the relevant provisions of Act 930 of Bank of Ghana, to satisfy the indebtedness of the collapsed institutions. The statement explained that Mr Nipah has commenced the process of taking control of the affected microfinance companies to ascertain the types and values of their assets and liabilities.

He directed all creditors including depositors to submit proof of debt forms with supporting documentation to the Receiver for validation, adding that the process of validating and agreeing on creditor claims would take 30 days from the date of the deadline for the submission of creditor claims.

Sourcegraphic

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Minister of Roads and Highways directs contractors to deal with encroachers on major roads

Minister of Roads and Highways, Kwasi Amoako Atta has directed contractors working on major roads in the country not...

ACEP uncovers massive illegal electricity connections; calls for overhaul of ECG meter distribution system

The Africa Center for Energy Policy (ACEP), has called for an overhaul of the distribution system of the Electricity Company of Ghana (ECG) after...

ECG staff demand immediate dismissal of Managing Director

Junior and Senior Staff of the Electricity Company of Ghana have called for the immediate removal from office of their Managing Director, Kwame Agyeman-Budu...

President Akufo-Addo makes new appointments

Former Senior Minister, Yaw Osafo-Marfo, has been appointed Senior Presidential Advisor to President Akufo-Addo.   Similarly, the immediate past Minister of Monitoring and Evaluation, Dr Anthony...

COVID-19 vaccines allocated to Northern Region due to expire on Friday

COVID-19 vaccines allocated to the Northern Region is due to expire in two days. As a precautionary measure, the directorate has decided to end...

More Articles Like This