On 15th August, 2022 the Economic and Organised Crime Office signed an MOU with the Bank of Ghana.
According to the Governor of the Bank, Dr. Ernest Addison, the scale and scope of financial crime has increasingly become complex and poses significant challenges to regulators. There is therefore a need for strong collaboration with specialised institutions like EOCO who are mandated to monitor and investigate economic and organised crime in order to reduce the risks to the financial system.
Dr. Addison stated that EOCO has played and continues to play an instrumental role in the Banking Sector Reform. He hoped that this MOU would help strengthen the hands of EOCO with the investigative work that the Office is undertaking. The investigations commenced on the back of the banking sector reforms in conjunction with the appointed Receivers to help recover funds that had been lost through the incompetence of Shareholders, Directors and Management of the Defunct Financial Institutions.
The Executive Director on her part noted how important the signing of this MOU is, given the nature of the mandate of the Office and the associated cost of effectively carrying out this mandate.
She added that her team is poised to deliver on its mandate and expressed gratitude to the Bank of Ghana for their support over the years to rid the financial sector of economic and organised crime to make Ghana more investor-friendly.