{"id":414018,"date":"2018-03-28T14:08:16","date_gmt":"2018-03-28T14:08:16","guid":{"rendered":"http:\/\/citifmonline.com\/?p=414018"},"modified":"2018-03-28T15:51:11","modified_gmt":"2018-03-28T15:51:11","slug":"dont-create-problems-eoco-warns-ut-bank-directors","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/03\/dont-create-problems-eoco-warns-ut-bank-directors\/","title":{"rendered":"Don’t create problems for yourselves – EOCO warns UT Bank directors"},"content":{"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.<\/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":[],"categories":[32,11],"tags":[10175,372,3,10177],"yoast_head":"\n