CEOs who mismanage credit union funds to be prosecuted

A financial expert and Board Chairman of the Ghana Cooperative Union, Dr Charles Anane says Chief executives of all credit unions whose unions collapsed under their watch will be arrested and prosecuted.

To this end, the Union in collaboration with the police CID will ensure quick prosecution of such CEO's.

Speaking at the closing of the 20th educational and biennial conference of the Ghana Cooperative Union in Accra, Dr Anane said the notion that chief executives of cooperative unions who collapse their businesses are above the law must be cleared.

He said the savings of workers cannot be taken for granted and so persons who are put in charge to manage it must be proactive.

Chief executive of the Ghana Cooperative Credit Unions, Nana Kwesi Agyepong said the credit union business is profitable if the savings of workers are put in proper investments.

He urged unions to encourage their members to be contributors saying that in the credit union business, the larger the merrier.

The four-day meeting brought together experts from the bank of Ghana, the world of corporate business and member unions such as the BECCU.