As part of its efforts to maintain the stability and integrity of the banking industry, the Bank of Ghana (BoG) says it will keep a careful eye on and regulate financial institutions in the nation.

According to the Central Bank, maintaining oversight in the banking sector is essential for reducing risks and fostering confidence in the financial system.

At the FBN Bank Ghana Limited’s name change and gala dinner, Governor of the Bank of Ghana, Dr. Ernest Addison, asserted that his organization has not wavered in its commitment to safeguarding depositor funds.

“Let me note that, to protect depositors, while ensuring the stability and soundness of the banking system, the Bank of Ghana will continue to be vigilant to ensure that banks comply with regulatory requirements and guidelines to build trust and confidence in our financial institutions”.

Dr. Ernest Addison swiftly added that the Bank of Ghana will not think twice about imposing strict penalties on institutions found to have violated regulations.