The Board Chairman of the Bulk Oil Storage and Transport Company (BOST), Dr Kwame Achampong-Kyei has resigned.
His resignation follows his alleged role he played in the collapse of Sovereign Bank, one of the five banks the Bank of Ghana shut down recently over breach of banking regulations.
In a statement copied to Peacefmonline.com, Dr Achampong-Kyei said “in view of recent development 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.”
He further noted that he regrets “giving up the opportunity of making my modest contribution in this regard to the President’s plans and efforts at building a robust and sustainable economy. I am however, compelled to do this in order to save Government and BOST what is unfortunately distractive and adverse commentary and propaganda in sections of the media."
His resignation however “is not an admission of any complicity and/or wrongdoing whatsoever” in events leading to the collapse of the bank.
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