Banking and Financial Consultant, Dr Richmond Attuahene has called for the arrest of Papa Kwesi Nduom if money laundry claims by the Bank of Ghana against him are found in his line of business.
Speaking on the “Ade Akye Abia’ programme on Okay FM monitored by MyNewsGh.com, he also revealed that 47 other directors will soon be put before court over their roles in the collapse their financial institutions. Notable among them Pastor Mensa Otabil of the International Central Gospel Church who was the Board Chairman of Defunct Capital Bank.
The Bank of Ghana (BoG) revoked the licenses of some 23 insolvent savings and loans and finance house companies including GN Savings and Loans Ltd, one of the many companies owned by Dr Nduom.
According to BoG’s report, GN Savings and Loans transferred $62 million and another £718,000 to its sister company in the US without the knowledge of BoG and the Ministry of Finance.
The Central Bank stated that GN Bank was in breach of section 19 of the Foreign Exchange Act 2006, Act 723, Section IV of Bank of Ghana Notice No. BG/GOV/SEC/2007/4, and subsequent Bank of Ghana notices issued in August 2014 prohibiting such practices.
But Papa Kwesi Nduom denied the allegations, arguing that the said amount was for payments of items purchased from the firm – International Business Solutions (IBS) – and all the necessary documentation were adequately provided.
Currently, four persons facing prosecution – William Ato Essien, Founder of the defunct Capital Bank, and three others – whose roles allegedly led to the collapse of the bank have been admitted to bail by the Commercial Court (High Court Division).
The three are Tetteh Nettey, Managing Director of MC Management Services, Ato Essien’s company, and Fitzgerald Odonkor, a former Managing Director of Capital Bank.