Citi Business News has gathered the Managing Director of ARB Apex Bank, Kwadwo Aye Kusi has been directed by the bank’s board to submit to Economic and Organized Crime Office (EOCO) all documents and information it has requested for in ongoing investigations on allegations of fraud.
Apex bank is being investigated by EOCO in areas of procurement of a communication link for wide area network, the sale of bank vehicles to staff as well as on the purchase of vehicles by the bank.
A letter sighted by Citi Business News from EOCO to the bank on the matter stated that the bank had seven days to provide documents and information over allegation of financial malfeasance.
The letter requested the MD of Apex Bank to furnish the Executive Director of EOCO information on its agreement with STL Ghana Limited and a copy of the board’s approval for the procurement.
EOCO has also requested the bank to provide the type of vehicle, date of original purchase, cost of vehicle, date of disposal, and name of purchase at the time of disposal and amount paid on sale of the banks vehicles to staff.
EOCO also wants the ARB Apex Bank to furnish it with the schedule of all vehicles purchased by the bank from 2010 to 2014 including vehicle brand, model, year of purchase, the dealer and conditions associated with the sale.
The ARB Apex Bank is a “mini” central bank for Rural and Community Banks (RCB)’s under the supervision of the Bank of Ghana.
Sources familiar with the mater also say the bank of Ghana has also begun investigations into the matter.
By: Norvan Acquah – Hayford/citifmonline.com/Ghana