Attorney General and Minister for Justice, Godfred Dame says his office is prosecuting high-profile cases relating to causing financial loss to the tune of Eight Hundred and Fifty Million Dollars.
He says the cases include stealing and fraud.
According to him, the motive for these prosecutions is to hold public officers to account.
Mr Dame made this known when he spoke on the financial sector crises in Ghana at Cambridge University.
He disclosed that the docket for the prosecution of the CEO of the defunct Menzgold, Nana Appiah Mensah is almost ready.
“Between August 2017 and January 2020, Ghana was hit by a severe banking crisis that affected several institutions, and several indigenous banks, as a result of which the central bank ordered a take-over of some of the banks by the Ghana Commercial Bank. The Central bank cited the insolvency of the banks as a significant reason for revoking their license.”
“Five indigenous banks were consolidated to form the Consolidated Bank Ghana Limited. A deeper examination of the banking crisis showed poor corporate governance, non-performing loans, breach of directors’ obligations, credit risks, and regulatory lapses were responsible for the vulnerabilities the banks were exposed to. Internal auditors who were required to superintend proper accounting practices were complacent and covered up Executive Directors. The recent banking crisis held ramifications for the entire economy. It was the most severe economic crisis to affect Ghana since independence,” He said.
