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Those responsible for the banking crisis will face justice - Nana Addo

President Nana Addo Dankwa Akufo-Addo has said those found culpable for the recent banking crisis will soon face the full rigours of the law.

President Nana Addo Dankwa Akufo-Addo

He said those responsible for the unfortunate happening must be punished.

According to him, the culprits would be arraigned soon to answer for their misdeeds.

Addressing the 71st Annual New Year School and Conference themed: "Attaining Ghana Beyond Aid: Prospects and Challenges" at the Great Hall, University of Ghana, Nana Addo said the state has had to spend over GH¢12 billion of public funds to rescue some 6,500 jobs as well as protect funds of some 4.6 million depositors.

"We have begun bringing those responsible for the banking crisis to justice. We have one case in court and if prima facie evidence of criminality is found in the other ongoing investigations which, according to my information, is likely, then the perpetrators of these crises, that is, both the regulators and individuals, will face justice soon", he said.

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Prince Kofi Amoabeng and Michael Nyinaku in court

On Tuesday, January 14, 2020, the Chief Executive Officer (CEO) of defunct UT Bank and Financial Holdings, Captain Prince Kofi Amoabeng (retd), was arrested, accused of stealing more than GH¢51.3 million and money laundering.

He, however, pleaded not guilty to the charges leveled against him and was later bailed to the tune of GH¢110 million cedis with two sureties who earn not less than two thousand cedis.

Also, the Founder and CEO of the defunct Beige Bank, Michael Nyinaku, has been remanded in police custody by the court for one week.

His bail application was thrown out by the court.

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He is facing trial over his alleged role in the collapse of his bank.

In June 2019, the receiver for Beige Bank, Nii Amanor Dodoo sued him together with 12 of his subsidiary companies to a tune of over GH¢1.3 billion.

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