The Board Chairman of the Bulk Oil Storage and Transportation Company Limited (BOST), Mr. Kwame Acheampong Kyei, has resigned.
Mr. Kyei cited the collapse of Sovereign Bank as his reason behind his action.
“In view of the recent developments relating to my association with the purchase and assumption of Sovereign Bank, and the resulting unfortunate furore in the media, I have decided to voluntarily step down as Chairman/Member of the Board of BOST for the time being,” Mr. Kyei stated in the letter addressed to the Energy Minister.
Sovereign bank was one of five local banks fused by the Bank of Ghana (BoG) to birth Consolidated Bank Ghana Limited.
According to the BoG, Sovereign Bank was closed down because it obtained its banking licence under false pretences through the use of suspicious and non-existent capital.
Mr Kyei was a Board member of Sovereign Bank but resigned in March 2018 before it was swallowed by the BoG.
He assumed the position of chairman of the Board of BOST in September 2017 but he came under pressure to resign following the scandal which hit the banking sector.
ClassFMonline.com