The Bank of Ghana (BOG) on March 20, 2018, appointed KPMG as “official administrator” of Unibank Ghana Ltd (“Unibank”). According to the BOG, the appointment of the official administrator is to save Unibank from imminent collapse and prevent losses to depositors and creditors. This is the second time the BOG has intervened in the operations...
The Minority in Parliament on 5 September 2017 gave a press release with respect to an approval given by the Minister of Finance (“Minister”) concerning a credit facility taken by McDan Shipping Company (“McDan”) from the Agricultural Development Bank (“Bank”). According to the government, the Bank (through its Managing Director) sought the approval from the...
In the well known case of Marbury v Madison[1], Chief Justice Marshall counsels: “certainly all those who have framed written constitutions contemplate them as forming the fundamental and paramount law of the nation, and consequently the theory of every such government must be, that an act of the legislature repugnant to the constitution is void”....