Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Sunday, October 5
    Trending
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    • Top 10 Ghanaian Throwback Songs That Still Hit Today
    • Absa Bank Ghana hosts Strategic Dialogue on Ghana’s 24-Hour Economy initiative
    • Edem Sickle Cell Foundation partners NCCE mark sickle cell awareness month
    • TMA embarks on Tema Facelift Campaign
    Your Marketplace Banner
    • News
    • Business
    • Entertainment
      • Music
      • Movies
      • Fashion
      • Celebrity news
    • Sports
    • Health
    • Technology
    • Agriculture
    • Opportunites
    • Videos
    • More
      • Education
      • Tourism
      • History
      • Feature
      • Opinion
      • World
    MyGhanaDaily
    Home»Business»High Court reverses BoG’s revocation of CDH Savings and Loans licence
    Business

    High Court reverses BoG’s revocation of CDH Savings and Loans licence

    MGD NewsBy MGD NewsNovember 2, 2024No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    cdh.jpg
    Getting your Trinity Audio player ready...

    A High Court in Accra has overturned the Bank of Ghana’s (BoG) 2019 decision to revoke the operating licence of CDH Savings and Loans Company Limited, ordering both parties to resolve the issue througheak arbitration.

    Justice Brew’s ruling, issued on November 1, 2024, criticized the BoG’s approach, underlining the constitutional requirement for fair and reasonable administrative actions.

    Send your stories to Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140

    The Court noted that the BoG’s two-week deadline for CDH to liquidate assets to address its liquidity challenges was “unreasonable and unfair.”

    BoG had originally revoked CDH’s licence on August 16, 2019, citing liquidity issues stemming from CDH’s failure to sell repossessed collateral.

    This, the central bank argued, led to an inability to meet withdrawal demands from depositors.

    In response, CDH’s shareholders, CDH Financial Holdings Limited, challenged the decision in court, seeking to have it quashed on grounds of procedural unfairness and to prevent any further disruption to its operations until arbitration.

    In his ruling, Justice Brew referenced Article 23 of Ghana’s 1992 Constitution, underscoring that administrative actions must uphold fairness.

    By overturning the BoG’s licence revocation, the ruling reinforces legal protections for businesses facing regulatory actions and emphasizes the importance of due process in Ghana’s financial sector.

    The case now heads to arbitration, where CDH and the BoG are expected to negotiate a resolution.

    Source: myghanadaily

    Send your news stories to
    Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140
    Advertise with us | Follow our WhatsApp channel for more news
    Business
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleUSAID donates boats to improve health access in WR’s riverine communities
    Next Article Accra: Daylight armed robbery at Adabraka Official Town
    MGD News

    myghanadaily.com

    Related Posts

    Absa Bank Ghana hosts Strategic Dialogue on Ghana’s 24-Hour Economy initiative

    October 4, 2025

    Opportunity International Hosts Africa GABV Meeting in Accra

    September 30, 2025

    Ghana Gas seeks 91% tariff increase to expand,

    September 10, 2025
    LATEST NEWS
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    • Top 10 Ghanaian Throwback Songs That Still Hit Today
    SPORTS NEWS

    2026 FIFA WCQ: Ghana beats Mali

    September 9, 2025

    The Black Stars Podcast: A six-part dive into Ghana’s football history, struggles and sparks of glory

    August 30, 2025

    2026 World Cup qualifiers: Black Stars set to open camp on September 1

    August 27, 2025

    Felix Afena-Gyan Joins Amedspor on Season-Long Loan

    August 21, 2025

    Ayew Stays Positive as Foxes Target Quick Response

    August 21, 2025
    Recent Posts
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    • Top 10 Ghanaian Throwback Songs That Still Hit Today
    Like Us On Facebook
    Facebook Pagelike Widget
    • Facebook
    • Twitter
    • Instagram
    © 2019 -2025 Copyright | MyGhanaDaily.com

    Type above and press Enter to search. Press Esc to cancel.