BoG takes over Unibank

The Bank of Ghana has announced it has taken over the management of private bank, Unibank.

The Governor of the central bank explained at a press conference, the takeover is due to challenges facing the bank. He mentioned weak supervisory standards and weak operations as the cause of the challenges.

BoG Unibank takeover

Ernest Addison said the bank, last year, provided inaccurate data during the central bank’s effort to resolve the problems

He assured depositors their money is safe, stressing “we are not liquidating the bank, we are saving it.”

The take-over comes weeks after Unibank announced it was taking over adb.

More soon…