Report On Collapsed Banks Forwarded To Security Agencies For Prosecution – BoG

The Bank of Ghana says it is hopeful the prosecution of former Chief Executive Officer of defunct Beige Bank, Mike Nyinaku and former CEO of collapsed UT Bank, Kofi Amoabeng will be seen to its legal conclusion.

The two CEOs were on Tuesday arraigned and charged with stealing and fraud over the collapse of their respective banks.

Mr. Nyinaku was remanded in police custody for one week while Mr. Amoabeng was granted bail.

Reacting to the issue, the Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi said the Central Bank will collaborate with all relevant state institutions in the prosecution of the two persons.

“We have always said that after we completed our clean up exercise, we will pass on all relevant information to the law enforcement agencies and we expect them to conduct their own investigations and proceed to do the needful if they found any behaviour to have had criminal implications. So I believe what we saw yesterday was in line with what the law enforcement agencies may have found to be behaviour that they needed to follow up on.”

According to the prosecution, the two men who run different organizations allegedly misappropriated funds in excess of GH¢200 million belonging to their customers.

The prosecution said investigations were still ongoing into their separate cases to ascertain the full extent of their offences.

The Court presided over by Justice Essandor, subsequently granted Mr. Amoabeng bail to the tune of GHS110 million cedis with two sureties who earn not less than GHS 2,000.

---citinewsroom