*From the branch locations to unknown locations
*Are shareholders of the bank aware of these movements?
Story: Atta Kwaku BOADI
Today Newspaper has once again uncovered through its investigations another clandestine move by people purported to be working with the Receiver of GN Bank/GN Savings and Loans Company, Eric Nana Nipa going around picking up items belonging to the Bank to unknown places without the knowledge of the shareholders.
Readers will recall that on Monday, April 10,2022, Today Newspaper’s front page banner headline story “ Thievery of GN Bank Items? Where is the Receiver”? reported that some people with questionable characters stormed the Nyankpala branch of the bank to demand the keys of place.
The paper continued that ,when those people were questioned by the police officer on duty to know who sent them to get the keys, they could not mention anybody’s name.
And just two days after the said publication, there was another underground move by similar people. Today further discovered that this time the people went to the Chereponi branch of the Bank also in the Northern Region to pick up items belonging to the Bank to unknown places.
According to our investigations,the people had a letter perceived to be written and signed by PWC/Receiver authorising them to move around in the Northern part of the country to move items to certain locations.
What still baffles the author of this story is whether the individuals involved in these acts have been acting on the instructions of the GN Bank Receiver or taking advantage of the Receiver’s apparent nonchalant attitude towards the properties of GN Bank.
The paper’s checks confirm that the revocation of the GN Bank license has been in court since 2019 and is still pending in court. The paper’s checks indicate that the Shareholders of the Bank do not know anything about what is happening to their properties as they have not been informed by the Receiver the relocation of the items. Photographs taken show massive quantities of dust on the floor, equipment and everywhere indicating no cleaning or maintenance of the offices kept under lock and key by the Receiver.
The paper first alerted Ghanaians about how the GN Bank Receiver has left properties of the Bank to rot in the bushes and also how Eric Nana Nipa quickly organized for some of the properties to be transferred to unknown destinations. For instance, the Chereponi branch is a classical case of how the building has been left untidy. The banking hall and other offices , Today observed have not been swept since the Bank of Ghana (BoG) revoked its licence.
There is the held view that the Receiver’s obvious lack of proper diligence could lead to the thievery of some of the GN Bank properties and office items. And the latest discovery made by the paper of an attempt by a group of youngsters to pick up the bank’s equipment/items at Chereponi is an attestation of that view point. Our further investigations point to the fact that some people are laying grounds for the Shareholders to put up a judgement debt case in the future.
Meanwhile many Ghanaians who have shared their thoughts on the Receiver/GN Bank issue believe the lack of proper supervision by the Receiver could offer some unscrupulous people the chance to steal the company’s equipment and items.
This reporter therefore wondered whether same approach had been adopted in the collection of many GN Bank items in other areas of the country and whether indeed, every single item was counted in the data currently at the offices of the Receiver; and whether they reconcile with that of GN Bank.
Readers must note that the revocation of the license of GN Bank/Savings has not been a final event. It has been disputed by Dr. Papa Kwesi Nduom and other shareholders in court. A court case has been process since August 2019 with the Bank of Ghana, the Attorney-General and the Receiver listed as defendants. The judge, Justice Gifty Agyei-Addo had set 9th December 2020 for her final judgement. It is the Bank of Ghana that has been using technicalities, what some have alleged to be “legal tricks and gymnastics” to cause delays and push judgement day far into the future.
Given the situation, a prudent professional in the Receiver role would be expected to keep assets in his possession safe and in tip top condition. We expected Nana Nipah to prevent financial loss especially with our understanding that he has been given substantial funds to manage the assets of GN Bank/Savings.
Our investigations raise the questions: where are the vehicles and motorcycles? Are they being serviced? Who is managing the inventory of these assets? How much value has been lost so far?