Citi Business News has learnt the Bank of Ghana (BoG) has taken over investigations into the payment of a Gh�10 million severance package to management of The Trust Bank (TTB), which was recently acquired by Ecobank.
The monies were paid to top management of TTB who opted out of the recent takeover by the pan-African banking group.
Sums of money ranging between Gh� 300,000 and Gh� 2 million are reported to have been credited to top management members of the bank who benefited from the package approved by the previous board last year.
The package has since been reversed and the acting Managing Director of TTB, Larry Yirenkyi-Boafo, has also been interdicted over the issue.
The Bank of Ghana is currently investigating the matter and is expected to advise the two banks accordingly on the next move to take after the inquiries are completed.
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