Dr. Ernest Addison, the governor of the Bank of Ghana, has pushed the government to prosecute bank and financial institution shareholders involved in the financial sector cleanup.

Dr. Addison contends that since accountability is necessary, these people ought to be held accountable for their deeds and inactions. The governor called for more swift and decisive action after expressing alarm over the government’s sluggish response to this issue.

Dr. Addison stated that everyone who is still in possession of money intended for the exercise needs to be tracked down during a press conference held in conjunction with the Ministry of Finance and the International Monetary Fund (IMF) on Monday, July 1.

“It is taking a really long time to really bring all of these matters to a close. However, it is important that the state needs to persevere and pursue these shareholders who have misappropriated depositors’ funds.

“The large amounts of monies that we claim were used to clean up the financial sector, some of these monies are being held in assets by the shareholders and I think that the law needs to be allowed to do its work.”

In accordance with its responsibility to advance the safety, soundness, and stability of the financial system to support economic growth, the Bank of Ghana started a banking sector clean up, recapitalization, and other regulatory changes from mid-2017 to end-December 2018.