BankingBusiness

GCB Bank denies transferring GHC52.2 billion to unknown source

GCB Bank says it has operated ethically over the years and will not engage in any activity that will put its reputation into disrepute

GCB Bank Limited (GCB) has refuted reports suggesting it has transferred GHC52.2 billion to unknown source describing it as false and mischievously done to discredit the bank.

A statement issued by the Bank said: “GCB has today 1 December 2020 noted with grave concern the publication of a doctored letter dated 5 October 2020 purportedly emanating from the Ghana Audit Service (GAS) in respect of funds transferred.”

The said letter currently circulating mostly on social media with the caption “Audit Service Reports of GHC52.2 billion transferred from GCB Bank to unknown sources” alleges that a total amount of GHC52.2 billion was transferred from GCB’s accounts to unidentified sources. This is false and mischievously designed to discredit the bank,” the statement further added.

The Bank asserts it has over the years operated ethically and will not engage in any activity that will put its reputation into disrepute.

“We hereby deny the allegation that GCB has effected unauthorised transfers. We further assure all our stakeholders that GCB, as a Bank of international repute, conducts its activities in line with sound banking principles. The Bank will not engage in any activity that will erode the trust and confidence the public has reposed in us over the years.”

Meanwhile, the Audit Service has also issued a statement in reaction to the alleged transfer of money from the GCB Bank.

The statement said the audit exercise in reference was an exercise sanctioned by Finance Minister Ken Ofori-Atta in a letter dated 15 August 2020, based on the mandate of the president.

It said the letter in circulation on the matter forms part of letters sent to commercial banks that participated in the transfers.

The statement further revealed the Audit Service has managed to trace with satisfaction, some of the transfers.

Fred Dzakpata

Asaase Radio 99.5 – tune in or log on to broadcasts online.

Follow us on Twitter: @asaaseradio995

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