EOCO investigates 65 directors of the collapsed Microfinance companies
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EOCO investigates 65 directors of the collapsed Microfinance companies

Directors of over 65 of the 347 collapsed Microfinance companies are being investigated by the Economic and Organised Crimes Office (EOCO).

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EOCO is chasing these directors for their roles leading to the collapse of the various institutions.

The directors are being investigated for their roles in the misuse of depositors' monies.

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According to Citi News, some records of some of the collapsed Microfinance companies and their directors cannot be traced and located.

Meanwhile, EOCO is also assisting the Receiver to locate, interrogate and conduct investigations into the conduct of directors of the various collapsed institutions.

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The Bank of Ghana since August 2017 has been cleaning up Ghana’s financial sector. The central bank has since revoked the licenses of 7 banks and 22 savings and loans companies.

The BoG, also in May 2019, revoked the licenses of 347 insolvent microfinance institutions.

YEN.com.gh earlier reported that automobile company, Zyle Daewoo Commercial Vehicle International, through its local agent, GH Daewoo, has responded to allegations by social media commentator, Kevin Taylor that government inflated the cost of buses purchased from the company.

According to a statement signed by the Regional Manager, Overseas Division, T.K. Kim, claims that vehicle models GL6127HK and GDW6121HK cost $75,000 are false.

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Source: Yen

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