As at Wednesday morning, former directors of the defunct UT Bank were yet to appear before\u00a0the Economic and Organized Crime Office (EOCO), despite a public summons.<\/p>\n
Speaking to Citi News<\/strong>\u2019 Umaru Sanda Amadu, the Executive Director of EOCO, K. K. Amoah, said the directors in question had until 5:00pm today to report.<\/p>\n [contextly_sidebar id=”KaToAZrKrBiEYzbnMdyCUeE7Jr9y6mdc”]Without providing details, he said his team would take the next step of action should the directors fail to report by the 5:00pm deadline.<\/p>\n \u201cThey should not create problems for themselves. They shouldn’t,\u201d Mr. Amoah warned.<\/p>\n Former Directors of Capital Bank, which also collapsed alongside UT Bank, will also appear before EOCO next Wednesday.<\/p>\n The two banks were taken over by the Bank of Ghana in 2017, and subsequently handed over to GCB Bank.<\/p>\n The liabilities of the banks, according to the central bank, overwhelmed their assets, leaving them with no option but to undertake a purchase and assumption transaction as the least costly method of dealing with a collapse.<\/p>\n Following findings of an investigative report, EOCO said it is probing further the issues surrounding the liquidation, but it is having difficulties reaching the directors of the collapsed banks.<\/p>\n But the investigation is yet to start in full force, according to the EOCO boss.<\/p>\n \u201cIt is a normal investigative process that we are doing. It is a complaint that we are investigating. We haven\u2019t even commenced the investigation,\u201d Mr. Amoah said.<\/p>\n “We gave them today. We are hoping that by the close of today they come. We gave them 9:30 this morning, and we are hoping that by the close of day, by 5:00 pm [they come],\u201d he added.<\/p>\n Citi News<\/strong>\u00a0also understands that Managers of uniBank which was recently taken over by the BoG with KPMG as the administrator will also be invited by EOCO in due course.<\/p>\n –<\/p>\n By: Delali Adogla-Bessa\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" As at Wednesday morning, former directors of the defunct UT Bank were yet to appear before\u00a0the Economic and Organized Crime Office (EOCO), despite a public summons. Speaking to Citi News\u2019 Umaru Sanda Amadu, the Executive Director of EOCO, K. K. Amoah, said the directors in question had until 5:00pm today to report. [contextly_sidebar id=”KaToAZrKrBiEYzbnMdyCUeE7Jr9y6mdc”]Without providing […]<\/p>\n","protected":false},"author":14,"featured_media":398547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,11],"tags":[10175,372,3,10177],"class_list":["post-414018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-top-stories","tag-capital-bank","tag-eoco","tag-ghana-news","tag-ut-bank"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/414018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=414018"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/414018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/398547"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=414018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=414018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=414018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}