Customers of UniBank blames BoG for the collapse of the bank

Account holders of Embattled UniBank have expressed worry over why the central bank could not have taken action when they realized that the Bank was not performing well.

Close to 100 customers of UniBank on Wednessday [March 21, 2018] were left stranded after they were told to wait till Midday before they can make any transaction with the bank.

Many of the customers expressed disappointment over why the Bank of Ghana delayed in taking the necessary actions on UniBank.

The Bank of Ghana on Tuesday announced a takeover of UniBank after the Bank persistently maintained a capital adequacy ratio below zero – currently negative 24%, making it technically insolvent.

Speaking to raylizaonline.com, some customers who were waiting for the Bank to begin operation by Midday expressed their disappointment in the Bank of Ghana, failing to take actions earlier than this. they added that it will be difficult to entirely trust the Banking sector.

In the wake of the Development, the Bank of Ghana says it taking steps to review its supervisory and lending framework, following checks that UniBank Breached rules in acquiring liquidity to meet its capital adequacy ratio.

According to the second deputy governor of the Bank of Ghana, Elsie Awadzi, third party Banks requested liquidity on Behalf of UniBank because it had hit its limit.

She added that the appraisal by the Central Bank is to ensure that the system is not exploited.

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Source: Ghana|raylizaonline.com|McRay Akpe Sogah