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
    Interior Minister Muntaka Mohammed Mubarak commissioning the National Signals Bureau Eastern Regional Command in Koforidua.
    Interior Ministry suspends all private firearm licenses
    June 23, 2026
    Kwadwo Safo Akofena, two others arrested over shooting incident involving former MP, Adwoa Safo
    June 23, 2026
    PURC announces 3.49% electricity and 0.85% water tariff increase for Q3 2026
    June 22, 2026
    Proliferation of firearms major threat to National Security – Sewoekpor
    June 22, 2026
    Adwoa Safo shooting: Six private security guards arrested
    June 22, 2026
  • Business
    BusinessShow More
    Save The Forest Alliance commends Sammy Gyamfi over Tano Nimiri Forest restoration initiative
    June 17, 2026
    Hollard Ghana expands customer service operations with new 50-seater call center
    June 15, 2026
    Banking Consultant questions proposed Auditors’ Courts; calls for capacity building in Ghana’s financial oversight
    June 15, 2026
    Agric ministry to distribute fertilizers to farmers from Tuesday 
    June 14, 2026
    Court orders NAM1 to file evidence by July 6 over Menzgold customers’ funds
    June 12, 2026
  • Politics
    PoliticsShow More
    Interior Ministry’s suspension of Kantanka Security Services Licence ‘refreshing step’ – Toobu
    June 23, 2026
    Akim Oda NDC Women’s Wing demands apology over treatment of Birim Central MCE
    June 22, 2026
    Court okays AG, Wontumi permission to negotiate GHS30m Exim Bank charges; Case Adjourned to July 6
    June 18, 2026
    Namibian President arrives in Accra for High-Level Consultative Conference on the Next Steps
    June 17, 2026
    US Immigration Court grants Ken Ofori-Atta green card
    June 16, 2026
  • Entertainment
    EntertainmentShow More
    WatsUp On Campus: Stonebwoy rocks UniMAC-IJ’s first-ever artiste night
    June 16, 2026
    itz Tiffany teases new anthem “Money” ahead of June 17 release
    June 12, 2026
    I am producing a new hit campaign song for NPP and Dr Bawumiah – Appietus
    June 6, 2026
    Noble Nketsiah alleges career declined after rejecting occult offer
    June 6, 2026
    WatsUp On Campus kicks off tour featuring top artistes, 15 Universities in Ghana
    June 5, 2026
  • Sports
    SportsShow More
    Partey returns as Queiroz hints at major changes for Ghana’s clash with England
    June 23, 2026
    Messi breaks World Cup scoring record with brace against Austria
    June 23, 2026
    Yirenkyi’s last-gasp heroics lift Ghana as Black Stars edge Panama in World Cup Opener
    June 18, 2026
    2026 World Cup: Dr. Bawumia rallies support for Black Stars
    June 17, 2026
    Messi hat-trick powers Argentina to 3-0 win over Algeria and rewrites World Cup history
    June 17, 2026
  • Technology
    TechnologyShow More
    Child Rights International calls for ban on social media use for children under 17 in Ghana
    June 20, 2026
    Samsung Ghana expands access to AI-powered mobile experiences with the Galaxy A series
    June 2, 2026
    KNUST hosts FemSTEM Africa 2026 to empower the next generation of women health innovators
    June 2, 2026
    Samsung Ghana introduces 2026 Vision AI Mini LED TV for ultimate sports viewing experience
    June 1, 2026
    Redington appointed authorised distributor of Adobe Creative Cloud in Ghana
    May 25, 2026
  • International
    InternationalShow More
    Child Rights International calls for ban on social media use for children under 17 in Ghana
    June 20, 2026
    AG meets US Department of Justice over law enforcement cooperation
    June 18, 2026
    15 Countries adopt Mombasa Declaration to boost fisheries transparency and combat illegal fishing
    June 18, 2026
    Cape Verde stun Spain with historic draw in FIFA World Cup debut
    June 15, 2026
    Morocco hold Brazil to thrilling 1-1 draw in FIFA World Cup 2026 opener
    June 14, 2026
  • 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

Save The Forest Alliance commends Sammy Gyamfi over Tano Nimiri Forest restoration initiative

Hollard Ghana expands customer service operations with new 50-seater call center

Banking Consultant questions proposed Auditors’ Courts; calls for capacity building in Ghana’s financial oversight

Agric ministry to distribute fertilizers to farmers from Tuesday 

Court orders NAM1 to file evidence by July 6 over Menzgold customers’ funds

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?