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BoG to renounce its ownership of two banks

The first Deputy Governor of BoG Millison Narh said they were taking this step to prevent the BoG from being partial in its supervisory role system.

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The two banks are National Investment Bank (NIB) and Agricultural Development Bank (ADB).

According to the Ghanaian Times, the first Deputy Governor of BoG Millison Narh said this at a roundtable discussion with the State Owned Enterprises (SOEs) and institutional investors in Accra.

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Currently, the BoG holds 44.06 and 48.17 per cent shares in National Investment Bank (NIB) and Agricultural Development Band (ADB) respectively.

He said this was to prevent the BoG from being partial in its supervisory role system based on new laws that are being passed.

He also mentioned that the Central Bank is implementing a number of reforms to help build a better banking system in the country.

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