The Ministry of Finance has dismissed social media claims that the government has sold Consolidated Bank Ghana (CBG) Limited to a foreign investor, calling such reports “entirely false and misleading.”
In a press statement issued Wednesday, the ministry clarified that CBG remains a state-owned institution, having been converted from a bridge bank to a universal bank licensed by the Bank of Ghana.
The ministry emphasized that the bank is financially stable, countering concerns raised by social media claims about the security of customer deposits.
“Over the past two years, the government has taken steps to strengthen the bank’s capital to make it more resilient following the Domestic Debt Exchange Programme (DDEP) under the IMF-supported Ghana Financial Sector Strengthening Strategy (GFSSS), as approved by Cabinet,” the statement read.
The Ministry of Finance reassured the public that CBG is in a sound financial position and urged citizens to disregard the misleading reports. It encouraged reliance on official communication channels for accurate information regarding the bank.
Below is the full statement from the MoF:
