Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Sunday, October 26
    Trending
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    • Wendy Shay Is “READY” — Drops Her Most Fearless and Emotional Album Yet
    • Beeztrap KOTM and Olivetheboy Shine in the Stunning Visuals for “FOTO”
    • “Body Go” by Moliy ft. Tyla Is a Celebration of African Beauty and Power — Watch Now
    • African Excellence: Stonebwoy Receives Prestigious Recognition in the U.S
    • December in Ghana Just Got Better — Here’s Every Major Concert You Shouldn’t Miss
    • GNCCI Calls for Simplified Tax Regime and Single VAT Rate to Ease Business Costs
    • SWAG Intensifies Sponsorship Drive Ahead of 50th Anniversary Awards
    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

    GNCCI Calls for Simplified Tax Regime and Single VAT Rate to Ease Business Costs

    October 25, 2025

    Prudential Bank halts selective salary increase after ICU intervention

    October 22, 2025

    New AVCA report reveals Ghana’s pension funds could unlock over US$1 billion for private capital investment

    October 22, 2025
    LATEST NEWS
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    • Wendy Shay Is “READY” — Drops Her Most Fearless and Emotional Album Yet
    • Beeztrap KOTM and Olivetheboy Shine in the Stunning Visuals for “FOTO”
    • “Body Go” by Moliy ft. Tyla Is a Celebration of African Beauty and Power — Watch Now
    • African Excellence: Stonebwoy Receives Prestigious Recognition in the U.S
    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
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    • Wendy Shay Is “READY” — Drops Her Most Fearless and Emotional Album Yet
    • Beeztrap KOTM and Olivetheboy Shine in the Stunning Visuals for “FOTO”
    • “Body Go” by Moliy ft. Tyla Is a Celebration of African Beauty and Power — Watch Now
    • African Excellence: Stonebwoy Receives Prestigious Recognition in the U.S
    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.