The Attorney General reiterated how badly the Economy of Ghana has been hit by a crisis.
He pointed out that the underperformance and stress of the banking sector have been a major strain on the Ghanaian economy.
The operations of Ponzi schemes have been a key contributing factor.
The Attorney General and Minister of Justice in Ghana, Mr Godfred Yeboah Dame, has disclosed that Nana Appiah Mensah, Chief Executive Officer (CEO) of the defunct Menzgold will be soon prosecuted.
Over the past 3 years, the local economy was hit by a crisis that has affected many of the institutions that form the backbone of the economy, and several local banks.
To minimize the crippling effects, the central bank ordered a take-over and closure of some of the banks by the Ghana Commercial Bank.
These banks had their licenses revoked due to insolvency.
On the issue of NAM1, who is currently on bail due to his arrest in 2019, the AG said: “after painstaking investigations, dockets of the financial crime are almost ready for the prosecution to commence in earnest.”