The Bank of Ghana (BoG) has said it will investigate and sanction officials whose activities led to the collapse of UT Bank and Capital Bank. “The last phase of the BoG’s action would involve a thorough investigation of operations of UT Bank and Capital Bank and appropriate action will be taken against shareholders, Directors, and ...

The Bank of Ghana (BoG) has said it will investigate and sanction officials whose activities led to the collapse of UT Bank and Capital Bank. “The last phase of the BoG’s action would involve a thorough investigation of operations of UT Bank and Capital Bank and appropriate action will be taken against shareholders, Directors, and ...

Dozens of people are feared trapped after a mudslide near Sierra Leone’s capital, Freetown. A hillside in the Regent area collapsed early on Monday following heavy rains, the BBC’s Umaru Fofana says, leaving many houses completely covered in mud. Our reporter, who is at the scene, says many people may have been caught asleep when ...

The acting National Chairman of the governing New Patriotic Party (NPP), Freddie Blay has appealed to Ghanaians to be patient with government as it works out concerns of institutions and Ghanaians at large. Mr. Blay, who is also the board chair of the Ghana National Petroleum Corporation GNPC, believes Ghana’s problems cannot be solved by ...

The Akuf0-Addo government has begun the process of establishing a pineapple factory at Ekumfi in the Central Region as part of the “One district, One factory” programme. The lands and the funds for the establishment of the factory have already been secured, according to the government. This is expected to be the first project of the ...

Shonda Rhimes, one of the best-known producers in television, is making the leap from ABC to Netflix. And the timing could not be more significant. Rhimes’ existing hit shows like “Grey’s Anatomy” will keep airing on ABC. But she will develop new shows exclusively for the streaming service. This is what’s known as a production ...

The websites of UT Bank and the Capital bank have been redirected to a web page on the Bank of Ghana website offering FAQs, following their collapse and takeover by GCB Bank. The Facebook account of UT Bank, www.facebook.com/utbank.official  has also been taken down. The Capital Bank Facebook page is, however, still up. As the ...

The Abeka district court has remanded to police custody, Charles Nana Frimpong the man alleged have to have shot and killed a Mechanic at Alajo in Accra. The court’s decision was made after a request from the prosecution for more time to finish their investigations. The suspect who has been charged with murder also pleaded to ...

Women who have a history of gum disease face a higher risk of several types of cancer, particularly tumors in the esophagus and breasts, a US study found Tuesday. “A history of periodontal disease was associated with a 14 percent higher risk of developing any cancer,” said the study published in Cancer Epidemiology, Biomarkers and ...

Details are emerging that the Chairperson of the Electoral Commission (EC), Charlotte Osei, demanded GH¢1 million to renovate a bungalow before she could occupy it as her official residence. Sources say the building, located behind the El Wak Stadium, closer to the Cantonments Post Office and the Lands Commission in Accra, does not appear to ...

A National Democratic Congress (NDC) Group, Action Movement, believes former President John Mahama is pulling the strings that fuelled former deputy Chief of Staff Valerie Sawyerr’s recent article attacking the NDC’s founder, Jerry John Rawlings. The group condemned Valerie Sawyerr’s comments as reckless and called on the NDC leadership to call her to order or expel her ...

iWatch Africa, a not-for-profit organization dedicated to promoting transparency and accountability has launched its maiden project aimed at putting the spotlight on government’s promises to Ghanaians in four key areas; education, health, education, job creation and government expenditure. Volunteers drawn from the 10 regions of Ghana, converged on the New Media Hub in Accra on ...

Following GCB Bank’s takeover of UT Bank, customers have scurried to branches of the bank in an attempt to secure their assets. The Bank of Ghana confirmed the takeover of UT Bank and Capital Bank by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption transaction with ...

The rebranding of one of the two collapsed Ghanaian-owned banks, UT Bank and Capital Bank which have been taken over by the GCB Bank, has started barely hours after the Bank of Ghana’s announcement. Citi News’ Anita Arthur reported from the headquarters of UT bank at Spintex that the bank’s logo on the building has ...

The Bank of Ghana (BoG) was left with no choice but to revoke the licence of UT Bank and Capital Bank, which were “deeply insolvent.” The two bank’s liabilities overwhelmed their assets and the BoG deemed a Purchase and Assumption transaction as the least costly method of dealing with the collapses. The collapsed banks were ...

Information available to Citi Business News indicates that staff of UT Bank and Capital Bank are agitated over the takeover of the banks by GCB Bank. The staff who are reporting to work on Monday morning have been refused entry for the necessary processes to be completed. Citi Business News’ Anita Arthur reports from the Headquarters of UT Bank in ...

The Ghana Stock Exchange (GSE) has suspended the listing status of UT Bank following its collapse and subsequent takeover by Ghana Commercial Bank. This was revealed in a statement copied to Citi News. The GSE noted that the suspension had become necessary due to the revocation of UT Bank’s licence by the Bank the of ...

Following the collapse of UT Bank and Capital Bank, and the subsequent takeover of the two banks by GCB Bank Ltd, the Bank of Ghana has issued a statement with FAQs (frequently asked questions) offering further clarification of the transaction. Q. Why has the Bank of Ghana decided to revoke the licenses of UT Bank ...

About eight flights are expected to airlift Hajj pilgrims from the Kotoka International Airport to Saudi Arabia over the next few days. This follows the airlifting of over 1,000 pilgrims from the Tamale airport, after the initial challenges. According to the Public Relations Officer of the Hajj Board, Abdulai Rahman Alhassan Gomda, all necessary preparations have ...