The President who revealed this in his Christmas and New Year message also described the decision to sanitise the banking system as a painful but necessary measure that has protected the funds of 4.6 million depositors.

"We've had to take painful but necessary measures, to sanitise and save the banking system, a process which I know has brought discomfort to many a household."

Touching on the 2020 general elections, the President said that all Ghanaians have a duty to conduct themselves in such a manner that we have a free, fair and transparent election.

"I am confident that yet again, Ghanaians will rise to the occasion, and reinforce the status of Ghana as a beacon of democracy on the continent," he said, adding that "The country is by no means out of the woods yet, but there is a growing sense of confidence that with hard work and determination, Ghana will make it, and collectively, we will secure our future.

He said as we celebrate Christmas, we should avoid doing anything that puts our lives, the lives of our loved ones and others in harm's way, rather "Let us be a blessing to the lives of those in need, and through our actions, bring good cheer to all.

The President welcomed all diasporans who are in the country to celebrate Christmas in this "Year of Return".

"And to our brothers and sisters and others, who have come from beyond our shores and are joining us celebrate Christmas in this "Year of Return", I say akwaaba, our word of welcome to each of you."