The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has reiterated that the licenses of banks revoked during the 2017-2019 financial sector reforms will not be reinstated as long as he remains in office.
In a television interview with JoyNews aired on January 2, 2025, Dr Addison responded to appeals for the reinstatement of revoked licenses, saying, “as long as I remain Governor, none of those licenses will be reinstated.”
Dr Addison's statement was in response to questions about the possibility of the incoming government considering the reinstatement of the revoked licenses following appeals by the shareholders of those banks.
Dr Addison emphasised that the decisions to revoke the licenses were made after thorough reviews of the institutions’ operations, many of which were found to have engaged in risky investments and mismanagement of depositor funds.
Watch interview below
