Govt, Bank of Ghana set up scheme to protect depositors’ interest

Govt, Bank of Ghana set up scheme to protect depositors' interest
Govt, Bank of Ghana set up scheme to protect depositors' interest
Ernest Addison is the Governor of the Lender of Ghana.

The Bank of Ghana says it will, jointly with governing administration, start the commencement of operations of the Ghana Deposit Protection Plan from upcoming month to secure depositors’ pursuits.

This arrives in the wake of the completion of a two-12 months-long clean-up of the banking sector.

The clean up-up observed the revocation of licenses of nine universal banking institutions, 347 microfinance firms, 39 micro-credit history organizations, 15 financial savings and loans businesses, 8 finance dwelling corporations and two non-lender fiscal establishments that have previously ceased functions.

The thoroughly clean-up started in August 2017 with the takeover of UT Financial institution and Funds Financial institution by GCB Financial institution Restricted.

According to a statement issued by the Central Lender on Friday, August 16, the sector is becoming sanitized in accordance with Sections 123 to 137 of Act 930.

It said endeavours ended up place in put to get shareholders and directors of the afflicted establishments to rectify lapses, notably the sizeable capital deficiencies.

“The Bank of Ghana is dedicated to making certain that the banking, SDI, and NBFI sectors keep on being resilient, inclusive, and supportive of Ghana’s financial growth trajectory,” the statement on Friday reported.

It assured that vigilance will be intensified from as a result to be certain that the remaining economical establishments keep on being resilient.

It said apart meting out sanctions to non-compliant institutions, it will be certain that early warning alerts of distress are mitigated expeditiously.


‘Gov’t has no interest taking over Manganese Company’

Lands and Organic Means Minister, Kwaku Asomah Kyeremeh has asked workers of the Ghana Manganese Company Limited to ignore rumours that the recent happenings at the corporation is section of government’s grand go of taking over the business.

Addressing the personnel on Tuesday following the resumption of its procedure immediately after the shutdown, Mr. Kyeremeh stated that, President Akufo-Adoo has no intention to own the enterprise hence, these frivolous comments amid the public have no real truth.

He also famous that there is no bring about for alarm for the reason that the govt is somewhat worried about obtaining an amicable resolution to the difficulties.

“There is a public notion that desires to be dispelled. Many others are saying the govt wanted to take around the corporation that is why it shut down. This is completely false. President Akufo-Addo and his family members have also not taken about Ghana Manganese Corporation. The Ministry is now pursuing to clear up the complications. All the stakeholders will occur jointly to discover the remedy.”

Workers of the Ghana Manganese Company, GMC, say govt acted in its own fascination by reopening the company.

The Branch Union Secretary of GMC, Mohammed Seeba, suggests personnel would have taken on the governing administration if it hadn’t created the u-switch.

The Ghana Manganese Company (GMC) resumed functions on Monday.

This was immediately after the federal government previously directed the enterprise to shut down above allegations of tax evasion and other infractions.

Main Working Officer of the business, Benjamin Atsu Quarshie in an job interview with Citi News said the organization will get the job done with the federal government to make sure that all issues are duly settled.

“Per the directive supplied by the Minister, we are resuming currently. We have had very good conversations with the federal government in particular the sector Minister and I believe that going forward, we are going to operate together to guarantee that the right things are finished. A committee has been established up to make sure that, the subject is brought to a closure.”

The firm has welcomed the government’s selection to allow for it to resume operations saying it is in the greatest interest of the state.

The corporation was shut down following allegations that it experienced shortchanged government to the tune of GHc1.94 billion in taxes and royalties as nicely as value manipulation involving 2010 and 2017.

The Chief Functioning Officer of GMC denied the promises stating a report from the Ghana Income Authority exonerates the firm.

Days afterwards, the Tarkwa-based firm was asked to resume functions after a crunch conference between the administration of the company and the Ministry of Lands and All-natural Assets.

‘Militia in the Heart of the Nation’ documentary in public interest but contained sensation – NMC

The Nationwide Media Fee commended both The Multimedia Group and the authorities for pursuing the make any difference.

The National Media Fee (NMC) states the JoyNews documentary on the presence of D-Eye team at the Christiansborg Castle in Osu, was in the community desire but cites facets as sensational.

In March this calendar year, government filed a complaint at the Commission in opposition to Joy Information demanding a retraction and an apology.

In a ruling, the Fee recommended each The Multimedia Group and the federal government for pursuing the make a difference.

Under if the NMC ruling:


On March 13, 2019, the Minister of Information and facts, Kojo Oppong Nkrumah filed a criticism on behalf of the Government from the Multimedia Team right before the Nationwide Media Commission, in accordance with Report 167 (b) of the 1992 Constitution and portion 2(1) (b) of the Nationwide Media Fee Act 1993 (Act449).

The criticism was from a documentary, “Militia in the Coronary heart of the Nation” by Manasseh Azure Awuni of Pleasure FM/Tv. The complaint was that the documentary had built particular promises which could not be supported by the information adduced and in line with the regulation, there was the need for the NMC to examine the make any difference and direct a retraction and apology as effectively as any other correct sanction.

It is unlucky that just before the complaint was submitted, the Authorities went general public on the issue.

As section of the settlement process, the criticism was forwarded to Multimedia for their reaction. In their response, they managed that the documentary was a reflection of the info gathered by the journalist.

They managed that the criticism was aimed at censorship and undermined their Freedom of Expression and that the Federal government lacked the capacity to initiate the motion and appealed to the NMC to dismiss the criticism instantly.

Multimedia failed to reply inside of the statutory interval and also regrettably revealed the response in advance of they filed it with the Commission.

The reaction was forwarded to the Federal government for its reaction just after which formal hearings commenced.

At the initial listening to, the Commission admitted the grievance and asserted its potential to offer with the matter.  Both get-togethers accepted the ruling but lifted objections from some users of the committee. Even though the complainant lifted objections in opposition to Mr Roland Affail Monney for having recommended Mr Manasseh Azure Awuni for the documentary and as a result could be prejudicial, the respondent elevated objections towards the Chairman of the Committee, Mr Yaw Boadu-Ayeboafoh for probable bias mainly because he was the nominee of the President of Ghana.

Proceedings ended up as a result adjourned for the perseverance of the objections. This prompted the Chairman and Mr Affail Monney recusing themselves for other customers of the Committee to rule on the objections. After two sittings, the panel dismissed the objections and stated that the chairman was not chairing the Committee and the Commission merely because he was a nominee of the President but mainly because he was elected by associates. In the circumstance of Mr Monney, the Committee held that his reviews did not represent bias given that the concern was about ethics to be identified on the face price.

This then paved the way for the resolve of the substantive make a difference.

The Minister of Information right after opening the scenario of Govt reiterated that the documentary did not comprise any materials reality and was complete of an exaggeration to bring about sensationalism.

He indicated that the respondent used the incorrect word to explain the D-Eye Team, which did not demonstrate any predisposition to violence and that more importantly at the time of the tale, respondent understood the Castle was no for a longer period the seat of Government and was not a security zone. The put was open up to the general public.

In their defence, the Multimedia Team reiterated the actuality that the documentary was factual, that they presented Government more than ample possibility to demonstrate troubles which were rebuffed and that there were proof to counsel the Castle was a safety zone.

They stated they felt vindicated in their use of militia, and cited no necessarily mean a person than Prof. Henrietta Mensah-Bonsu, a legal Academic and member of the Justice Emile Limited Committee which investigated the violence for the duration of the Ayawaso West Wuogon bye-election who reiterated the word. They further more pleaded justification, privilege, good comment, general public desire, and assertion of their essential independence of expression.

The Commission established out the challenges for willpower to contain the problem of what is a militia or vigilante, when the group exited the Castle and irrespective of whether the portion of the documentary focused on the group uncovered any act of violence. The Fee took into account the argument of both events and concluded that the disagreement did not so a lot have an impact on the that means of the word, but the issue of whether or not some violent perform had been exhibited.

In the conclude, the Commission observed out that the attempt to expose the truth that the group operated from the Castle was in the general public desire. Nonetheless, in the try, the investigation experienced not been steady in next the ethical criteria outlined by the Ghana Journalists Association code of ethics, specifically guideline 23, which states that “a journalist assures that photographs and multimedia information adequately replicate an party and do not emphasize an incidence out of context’’.

This resulted from the simple fact that whilst the respondent utilized a photograph from a BBC report on an assault on the Nigerian senate to boost the documentary on-line, they unsuccessful to relate it properly.

Again, the inclusion of shots from the Ayawaso West Wuogon violence and attack on the Ashanti Regional Protection Coordinator were being at variance with the activities of the D-Eye Team as captured at the Castle. The Fee concluded that there was no predisposition to violence in the documentary.  For that reason,  the affiliation of the D-Eye Group with the Ayawaso West Wuogon Violence and the BBC story from Nigeria, were being sensational.

On the situation when the D-Eye Team exited the Castle, although the Authorities insisted that the group was evicted in October 2018, the Multimedia Group insisted that it was after the documentary that the eviction was carried out.

Once more, while Multimedia presented evidence of makes an attempt by government officers to eliminate the group from the Castle, it nonetheless related the President with the group and the Fee held that it was unfair specifically when the Multimedia Team afterwards publicly apologized to the President.

The Fee is of the check out that while it finds the existence in the Castle of the D-Eye Group problematic and unacceptable, the team did not manifest any violent conduct to be explained as a militia or vigilante group from the documentary as the folks of Ghana have appear to establish this kind of teams.

The Commission finds the commentary on the documentary and the association with the Ayawaso West Wuogon violence as deceptive and a misrepresentation.  Having said that, because the Multimedia Group revealed a rejoinder from the Federal government, we direct that it publishes our ruling.

The Fee commends both events and their Counsel for their co-operation and diligent method in which they pursued the subject before the Fee. 








Families not angry enough- Public Interest Advocate

Community Fascination Advocate and political commentator, Mr. Frank Aboagye Danyansah has stated that government not showing much issue in the scenario of the 3 kidnapped Takoradi girls challenge simply because their family members are not offended plenty of.

Also Read through: Women chasing riches will stay aspect chicks permanently and not wives- Counsellor

Three (3) Takoradi Women somewhere in 2018 were kidnapped in
Takoradi in the Western Location of Ghana and their whereabouts presently

18-yr-aged Priscilla Mantebea Koranchie, Ruth Appreciate Quayson and 21-calendar year-aged Priscilla Blessing Bentum until date have not been identified after the went lacking in spite of assurances from the safety businesses they will be located.

General public Curiosity Advocate Mr. Frank Aboagye Danyansah
talking in an job interview with Pure Fm’s Osei Kwadwo mentioned authorities, stability
organizations have taken the spouse and children and Ghanaians for granted because of to non-seriousness
of the people.

“It is sad that authorities officials are taking part in with the
Takoradi girls’ difficulty but I think governing administration officers have comfortable since
the family members are not critical ample. They have to put authorities and safety
officials on their toes for them to provide back the girls” he said.

In accordance to Frank Aboagye Danyansah the Akufo-Addo
governing administration has failed as much is stability matters are involved.

“With all the stability equipment, President Akufo-Addo’s government has failed to guard Ghanaians. The insecurity in this state is finding out of fingers which the President has to do a thing about” he mentioned.

Also Read: Direct your anger to Ofosu Ampofo – Owusu Bempah to kidnapped girls’ families

He added, the CID boss COP Maame Yaa Tiwaa Addo Danquah
(Mrs) must have been sacked from office for lying to Ghanaians about the
Takoradi girls difficulty if President Akufo-Addo is involved about security
matters. Zoure/2019