Bank of Ghana puts former governor’s landed property on sale

The Central Bank is reported to have put on sale landed properties believed to belong to former Governor, Dr Kwabena Duffuor.

The properties located in the major prime areas in the Capital, Accra, sum up to a whopping $82 million.

The ten properties are located primarily at Ridge, Adabraka, Airport, and Asylum Down and are valued at between $1 million and $25 million.

Details of the sale are sketchy but a property schedule details all the properties and their values as well as locations.

The sale may be linked to struggles Dr Duffuor’s bank, Unibank, is going through which compelled the regulator, the Central Bank, to appoint an administrator to take charge of its affairs.

Internationally recognised auditing firm, KPMG, was early this year appointed by the Bank of Ghana in what the regulator said was part of moves to save Unibank.

A Deputy Governor of the Central Bank told Joy FM that Unibank had been on life support for many years.

According to Mrs. Elsie Awadzi, the managers of the local bank had been defaulting in supplying requested information relating to the performance of the bank.

She insisted the Central Bank’s decision was in the interest of owners of the bank and depositors as well.

The Administrators, according to the BoG, were expected to assess the full extent of the struggling bank.

It would seem, that some troubling findings have been made, prompting the sale of landed properties of the owner of the bank.

Source: myjoyonline