Workers of defunct Heritage bank has been asked to go home on Thursday, February 28, 2019.
That's according to the receiver of defunct Bank, Vish Ashiagbor, who has in a letter directed that all branches of the bank across the country to cease operations except the Tema Community 1, and Suame – Kumasi branches.
Vish Ashiagbor said, “Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, 28 February 2019â€.
It added that “unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office dailyâ€.
The workers have been promised allowances in line with the consultancy contracts for the term of the contract which ends on March 31, 2019.
The Bank of Ghana revoked the license of Heritage Bank after it discovered a number of anomalies relating to its licensing, the sources of its capital, and related party transactions.
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Providing reasons for the revocation of the license, the central bank said Heritage bank’s capital appears to have come from sources which were suspicious.
According to the Bank of Ghana, the shareholders of the bank were specified as Mr. Seidu Agongo, Ms. Fatima Adamu, Sarago Limited, and Mr. Sylvanus Kotey who together purportedly met the minimum paid-up capital of GHC 120 million.
The Bank of Ghana said it was not satisfied that the original sources of the bank’s capital are acceptable, in terms of section 9 (d) of the Banks and SDI Act, 2016 (Act 930) and section 1 of the Anti-Money Laundering Act of 2008 (Act 749) which requires acceptable capital to be obtained from lawful and transparent sources.