By Francis Owusu-Ansah
The Bank of Ghana (BoG) has taken over the management of Unibank, a private bank. The Governor of the BoG, Dr Ernest Addison announced at a press conference that the takeover is as a result of challenges facing the bank.
He stated weak supervisory standards and weak operations as the cause of the challenges.
Dr Ernest Addison said the bank provided inaccurate data during the Central Bank’s effort to resolve the problems.
The Central Bank Governor assured depositors that their money is safe, stressing “we are not liquidating the bank, we are saving it.” The take-over comes weeks after Unibank announced it was taking over ADB.
The top management of Unibank are Dr. Kwabena Duffuor II, Chief Executive Officer, Ekow Nyarko Dadzie-Dennis, Chief Operating Officer, Executive Director Owusu-Ansah Awere, Executive Clifford Duke Mettle, Director of Risk Management Kwesi Nkrumah Pimpah. The Bank’s Company Secretary is Sylvia Assimeng-Archer, Executive Head of Treasury and Global Trade John Collins Arthur, Executive Head of Corporate Banking Elsie Dansoa Kyereh and Executive Head of Innovations and Business Execution Florence Ohene.
This executive management are expected to give way to new control. The bank was founded in 1997 by Dr Kwabena Duffuor, who later became Finance minister under the Mills administration.