By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    Former AG Becomes Newest Supporter in Mercy Plea for Ato Essien
    July 30, 2025
    NACOC and Ghana Gold Board officials at gold handover ceremony in Accra
    NACOC hands over $1.7 million seized gold to Ghana Gold Board
    July 29, 2025
    Kennedy Agyapong announces bid for NPP 2028 flagbearer position
    Kennedy Agyapong officially declares bid for NPP 2028 presidential primaries
    July 29, 2025
    Mahama condemns student killings in Bawku, directs army to enforce peace
    July 29, 2025
    Lands Ministry publishes list of 907 small-scale mining licenses facing revocation
    July 29, 2025
  • Business
    BusinessShow More
    Mid-Year Budget Review Promising, But More Buffers Must Be Built to Tackle Exogenous Shocks 
    July 29, 2025
    Economist applauds bold move to de-dollarize Ghana’s economy
    July 25, 2025
    Ban on dollarisation could backfire without cedi stability – Joe Jackson
    July 25, 2025
    Mid-Year Budget shows clear commitment to economic stability – Joe Jackson
    July 25, 2025
    Google announces $37M in cumulative funding and new AI Community Center in Accra to advance AI in Africa
    July 25, 2025
  • Politics
    PoliticsShow More
    Kennedy Agyapong announces bid for NPP 2028 flagbearer position
    Kennedy Agyapong officially declares bid for NPP 2028 presidential primaries
    July 29, 2025
    NPP opens nominations for 2026 presidential primaries with GH₵600k fee tag
    NPP opens nominations for 2026 presidential primaries with GH₵600k fee tag
    July 29, 2025
    Bernard Bediako Baidoo picks NDC nomination form for Akwatia by-election
    Lawyer Bernard Bediako Baidoo joins Akwatia NDC parliamentary race
    July 28, 2025
    NSA Scandal: AG halts charges as GH₵80m goes missing from BoG account
    July 28, 2025
    “I want to jail looters, but asset recovery sometimes more pragmatic” – Ayine
    July 28, 2025
  • Entertainment
    EntertainmentShow More
    GHAT Fair 2025 kicks off to boost investment, innovation in transport
    July 28, 2025
    President Mahama mourns Daddy Lumba, calls him a national treasure in Facebook tribute
    President Mahama mourns passing of music icon Daddy Lumba
    July 27, 2025
    The Weeknd & Shakira to headline 2025 Global Citizen Festival with Tyla, Ayra Starr & Mariah The Scientist
    July 22, 2025
    ACP partners MiPrime Entertainment to Champion Investment in Ghana’s Creative Industry
    July 21, 2025
    I want music to be my legacy, not fame – Rocky Dawuni
    July 18, 2025
  • Sports
    SportsShow More
    Minority donates GHS 100,000 to Black Queens for WAFCON performance
    July 29, 2025
    Ghana Hockey pays tribute to late President Mills at Commemorative Tournament
    July 27, 2025
    NYA CEO, Osman Ayariga pledges support for 2025 Gbese Mantse Homowo Peace Cup
    July 25, 2025
    Kofi Adams hails Black Queens for gallant AFCON semi-final performance
    July 23, 2025
    Black Queens bow out of WAFCON 2024 after 4–2 penalty loss to Morocco
    July 23, 2025
  • Technology
    TechnologyShow More
    Fantana praises launch of the Ghana’s Online Continuous Emission Monitoring System
    July 29, 2025
    Coding Controversy: Cybersecurity Pro Decodes Ghana Deputy Minister’s Answer – Right, Wrong, or Misunderstood?
    July 28, 2025
    AI integrated skills training needed to escape job losses – NBU YEC
    July 23, 2025
    Samsung Ghana unveils 2025 TV line-up
    July 22, 2025
    Osman Ayariga speaking on youth empowerment and AI at World Youth Skills Day event
    “Youth should not see AI as competition, but as a digital tool” – Osman Ayariga
    July 17, 2025
  • International
    InternationalShow More
    Education Minister Haruna Iddrisu signs MoUs with GEICO and CMS Group for new public universities
    Education Minister signs MoUs with GEICO, CMS Group to establish two public universities
    July 15, 2025
    Presidency terminates Zoomlion’s contract over concerns of impropriety and inflated billing
    Mahama pushes AU–CARICOM partnership to strengthen global reparations push
    July 14, 2025
    47th AU Forum: Ablakwa criticizes $1.2m AfCFTA allocation as ‘highly insufficient’
    July 10, 2025
    Minority demands audit over $1.2m passport relaunch cost and delays
    July 9, 2025
    Minority demands compensation for citizens stranded by US embassy closure
    July 9, 2025
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: Beige Bank case: Former Procurement Officer provides Court with more evidence of projects undertaken by Beige Bank
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
Business

Beige Bank case: Former Procurement Officer provides Court with more evidence of projects undertaken by Beige Bank

Starrfm.com.gh By Starrfm.com.gh Published June 18, 2024
Share
Mike Nyinaku, CEO of Beige Group
SHARE

A Procurement and Technology Consultant on the Ghana Electronic Procurement System (GHANEPS) of the Public Procurement Authority (PPA) has provided the High Court with additional statements and expenditures to demonstrate projects undertaken by The Beige Group (TBG). These documents are intended to confirm work done and provide clarity on why charges against the founder of the defunct Beige Bank, Michael Nyinaku, should not hold.

Frederick Frimpong, a former Procurement Officer with BBS, a subsidiary of TBG involved in fleet management, large-scale procurement, and warehousing, stated that even at the time the bank went into receivership, there were many items in stock at the warehouse yet to be distributed.

Mr. Frimpong, the 12th Defence Witness for Mr. Nyinaku in the ongoing Beige Bank case, was part of a team called the Central Business Support Department (CBS), which was mainly responsible for procurements. He testified that CBS was “actively involved in the procurement of a multitude of items that were used in the setting up of these branches.”

“I am aware and it is a fact that Beige Capital Savings & Loans undertook a lot of branch expansion project works as part of activities marking its transition into becoming The BEIGE Bank,” the Witness told the Court.

In his Witness Statement, adopted by the Court as his evidence in chief, the Witness said, “it is a fact that these branches involved branches that existed prior to BCSL obtaining the universal banking license and new ones that were built after BCSL obtained the license.”

He further testified that “all these project works were undertaken and achieved through a collaboration of several departments within TBG as well as the bank itself.”

The 12th Defence Witness also told the Court, presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge, that “because I was a member of CBS, which was the department with responsibility for procurement activities within TBG, my department was actively involved in the procurement of a multitude of items used in the setting up of these branches.”

Mr. Frimpong, currently with the PPA, said he can “confirm that funding for the activities undertaken by my department came from the finance office of TBG.”

“I can also confirm that the pay vouchers attached to my present statement represent a sample of many such pay vouchers evidencing payments made for several procurement activities undertaken by my department as part of the transitional projects done for the bank.

“I can confirm that the expenditure report submitted by my department, together with its related attachments, were indeed the expenditures that accounted for funds received from TBG to be utilized in executing my department’s scope of work within the projects being executed on behalf of the bank. I can further confirm that a lot of these projects were still ongoing at the time the bank was placed under receivership,” he told the Court.

“I recall that at the time of the receivership and up until the office of TBG was closed down, there were a lot of items in stock in the warehouse of BBS that were due to be distributed to branches in respect of which set-up works were ongoing,” he stated.

Mr. Nyinaku, the founder and Chief Executive Officer of the defunct bank, has been charged with allegedly stealing GH¢2.1 billion of depositors’ money from the bank. He has pleaded not guilty to 43 charges, including stealing, fraudulent breach of trust, and money laundering, and has been granted bail.

To support his claims, the Witness mentioned that the new branch set-up work involved engagements among the various teams involved in the projects.

He reiterated that “working on the branches and making them ready for occupation by the bank involved the collaboration of many departments within TBG and even the bank itself.

“The work had been scheduled so that each department knew when to finish their work for another department to take over. On many occasions, some departments had to work hand in hand at the same time,” he explained.

He further stated that “at CBS, our role, as I have already explained, was mainly to procure and distribute items to the various branches.

“We also provided logistics for transporting various members to locations where the projects were taking place.

“To confirm the statements I have just made, I have attached documents marked FF-4, FF-4A, FF-4B, FF-4C, FF-4D, and FF-4E to my present statement,” he submitted to the Court.

“These documents are emails providing evidence of several correspondences generated during the course of our work.

“These correspondences were among my department and several other departments, all of whom were playing several roles in the delivery of the projects,” he added.

Providing a detailed breakdown of the documents marked FF-4, he said it is “an email dated 28th September 2017 between Anthony Ansah [head of CBS] and Okbell Majdoub [head of Service Quality]. In that email, Okbell was asking that CBS staff collect old blinds that had been removed and replaced in the branches of the bank already existing.

“The document marked FF-4A is an email dated 29th September 2017 between Anthony Ansah [head of CBS] and officials of TBG as well as the bank. In that email, Anthony informed an officer at the CEO’s secretariat that a vehicle had been made available for the transition committee to go around to undertake their work.

“The document marked FF-4B is an email dated 23rd October 2017 between Anthony Ansah [head of CBS] and officials of TBG as well as the bank. In that email, Anthony informed an officer at the CEO’s secretariat that a vehicle had been made available for the transition committee to go around to undertake their work.

“The document marked FF-4C is an email dated 9th November 2017 between Anthony Ansah [head of CBS] and Freddie Wuddah [head of projects] as well as officials of the bank. In that email, Freddie is requesting Anthony to collect leftover materials from the Atomic Roundabout branch back into storage at CBS.

“The document marked FF-4D is an email dated 10th November 2017 between Anthony Ansah [head of CBS] and the CEO, copied to officials of TBG and the bank. In that email, Anthony is requesting support from finance in order to transport items that are required for the set-up of branches in the northern parts of the country.

“The document marked FF-4E is a thread of emails dated April 5th, 2018 – April 13th, 2018 between officials of CBS and the Projects departments. In that email, they were discussing the procurement of generators that had been approved for some branches of the bank that were being worked on,” he explained.

Find attached the full Witness Statement of DW 12

Download

Source: Ghana/Starrfm.com.gh/Murtala Inusah

You Might Also Like

Mid-Year Budget Review Promising, But More Buffers Must Be Built to Tackle Exogenous Shocks 

Economist applauds bold move to de-dollarize Ghana’s economy

Ban on dollarisation could backfire without cedi stability – Joe Jackson

Mid-Year Budget shows clear commitment to economic stability – Joe Jackson

CEO of defunct Beige Bank Michael Nyineku acquitted by Court of Appeal

TAGGED:Beige BankcourtGhana Electronic Procurement SystemMichael NyinakuPublic Procurement Authority (PPA)
Share This Article
Facebook Twitter Email Print
Share
Previous Article Court of Appeal dismisses Ato Forson’s request to strike out ‘defective’ charge sheet
Next Article VIDEO: ‘Hands off our hotel’ demonstration underway

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?