Embargo placed on accounts of former top executives of UT Bank, Capital Bank

Embargo placed on accounts of former top executives of UT Bank, Capital Bank

- The accounts have been frozen in order to pave way for investigations into the matter

- A forensic audit is ongoing to determine the true cause of the collapse

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Details emerging from Ghana’s central bank, the Bank of Ghana, are to the effect that bank accounts of top executives of the now defunct UT Bank and Capital Bank have been frozen.

Embargo placed on accounts of former top executives of UT Bank, Capital Bank

Governor of the bank of Ghana, Dr. Ernest Kwamina Yedu Addison

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This was achieved per the request of a combined team of officials from the central bank and the official receiver, Price Waterhouse Coopers.

The Bank of Ghana has indicated its intention to conduct a forensic audit into the operations of the two former banks.

This is to determine the root cause of the collapse of the two banks.

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Source: Yen.com.gh

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