Breached regulations within the  Ghana International Bank were noted when a transaction was carried out in August 2016, on behalf of the Asantehene, reportedly involving £350,000.

[contextly_sidebar id=”hYf2u0H8Ww0ZPme7x3XOfIxb0R4cBMo3″]The bank official involved, Mark Arthur, was subsequently suspended and later sacked for not following anti-money laundering rules.

Before a tribunal, where he is alleging wrongful dismissal, among others, Mark Arthur alleged that Otumfuo Osei Tutu II, the holder of a diplomatic passport, told him the cash had been withdrawn from banks in Ghana and brought to the UK.

Despite the amount in question, Mr. Otuo Acheampong noted on Eyewitness News that there was no need for regulatory authorities like the Financial Intelligence Centre to pursue the matter because of the allegations.

As an example, Financial institutions are to report all cash transactions within Ghana with a threshold of GH¢20,000, or amounts as may be determined by the BOG from time to time, to the Financial Intelligence Centre.

The Financial Intelligence Centre is mandated by law to request, receive, analyse, interpret and disseminate financial intelligence in Ghana and abroad.

Preferential treatment

But Mr. Otuo Acheampong said customers could be “treated differently, therefore, whilst it [an amount] may be too much for me, because of my record, it may be okay for you because of your record.”

He couldn’t speak to whether there was permission sought or whether it was given for the alleged transactions by the Asantehene, but he said, “as far as the Ghanaian authorities are concerned, nothing sinister has been brought against the king. As far as the British authorities are concerned, nothing has been brought against him.”

“At the core is the breach of internal procedures at the Ghana International Bank,” Mr. Otuo Acheampong added, thus, the Financial Intelligence Centre did “not necessarily” have to look into the matter.

He also reminded that “we don’t know whether even that money was sourced in the UK or was sourced in Ghana. What you are alluding to is what the claimant [Mark Athur] proffered.”

The Ghana International Bank has since said there has been no suggestion of money laundering allegations in its litigation with its former employee, Mark. Arthur.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post Probing Otumfuo’s £350,000 transaction needless – Otuo Acheampong appeared first on Citi 97.3 FM - Relevant Radio. Always.

The attacks by criminals on rangers of the Commission led to the commission setting up a specialist rapid response team to provide extra support to rangers on the ground and investigate attacks and murders.

Addressing the media yesterday at a media launch of the third forestry week and greening Ghana Day celebration, the Chief Executive of the Commission Samuel Afari Dartey said the move has become necessary due to the increased attacks on the rangers.

“We are increasing the numerical strength of our rapid response team and enhance their logistics to enable them to effectively combat these criminals,” Dr. Afari said

He also pledged the Commission’s commitment to protecting the country’s valuable resources saying: “although we dread these losses, both human and forests, I wish to assure the perpetrators of these heinous crimes of our resolve in our commitment to continue to sacrifice to protect these valuable resources.”

He also stated that the Commission has trained a cadre of staff to assist  public prosecutors to more effectively and expeditiously dispose off forest and wildlife offences.

“We have also embarked on plantation development to meet the gap and the demand of forest products.

“We can only celebrate the forest for sustainable development when we secure their sustainability even as we utilize them for national development,”he said

By: Marian Efe Ansah/citifmonline.com/Ghana

The post Forestry Commission to strengthen response team appeared first on Citi 97.3 FM - Relevant Radio. Always.