BoG clean-up: OSP goes after persons behind banking sector crisis

Although some persons are already on trial, the Office of the Special Prosecutor (OSP) has said it has begun an investigation into the Banking Sector Crisis.

According to a statement from the office, the investigation will target alleged corruption and corruption-related offences perpetrated by officials of the Bank of Ghana, banks, specialized deposit-taking institutions and financial holding companies.

The Office used the opportunity to invite members of the public who have information to lodge their complaints to the office adding that informants will be protected.

The Office of the Special Prosecutor said all officials found culpable will be arrested and prosecuted.

The government expended GH¢21 billion to clean up the banking sector.

This move according to the Government of Ghana was to save the deposits of clients of the various banks that compromised Corporate Governance for their personal interest.

The cleanup led to the collapse of Beige Capital, UT Bank, Capital Bank, UniBank and other financial institutions in the country that birthed the Consolidated Bank Ghana.