Over 300 defunct Heritage bank staff asked to go home

Workers and staff of the defunct Heritage Bank have been asked to cease reporting to work from Friday, March 1, 2019.

This follows a directive from the receiver of defunct bank, Vish Ashiagbor, that all branches of the bank across the country should cease operations.

In a statement, Vish Ashiagbor said only the Tema Community 1, and Suame – Kumasi branches, will still be in operation.

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“Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, February 28, 2019,” sections of the statement reads.

It added that all workers of the defunct bank are no longer required to report to work, insisting their physical presence is no longer needed at the various branches and offices.

“…unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office daily.”

According to Accra-based Citi FM, the workers have been promised allowances in line with the consultancy contracts for the term of the contract which ends on March 31, 2019.

In January 2019, the Central Bank revoked the license of Heritage Bank, citing issues relating to licensing and sources of its capital.

The Bank of Ghana said it was not satisfied that the original sources of the bank’s capital are acceptable, in terms of section 9 (d) of the Banks and SDI Act, 2016 (Act 930) and section 1 of the Anti-Money Laundering Act of 2008 (Act 749) which requires acceptable capital to be obtained from lawful and transparent sources.

This was after the central bank pointed to the majority shareholder of the Heritage Bank, Seidu Agongo’s involvement in a criminal prosecution case concerning COCOBOD.

However, Mr. Agongo later described the BoG’s takeover of the bank as suspicious and without any viable explanations.

In a statement, Mr. Agongo said the decision to revoke the license of the Heritage Bank is premature and in bad faith.

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According to him, the central bank has completely disregarded “the time-honoured principle that a person is presumed innocent until proven guilty by a court of competent jurisdiction.”

“The fact that I have a case pending before the High Court is a matter of public knowledge but my guilt or innocence is yet to be determined by the honourable court,” he added.

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Source: YEN.com.gh