Bank of Ghana takes over Unibank

Financial firm KPMG will take over the administration of the bank and they have been tasked to protect the depositors funds.

The Bank of Ghana said they have appointed an administrator for Unibank because it is insolvent.

The central bank insists that uniBank’s challenges have been ongoing for the past two or so years. Bank of Ghana said Unibank has been on life support for a while now.

"This is no liquidation, but we are saving the bank and hand it over to competent management. The new management will assess the bank and give way forward," the Bank of Ghana said in a statement.

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