Court orders BoG to produce Capital Bank’s Statement of Account

The High Court, presided over by His Lordship Eric Kyei Baffour JA has ordered the Governor of the Central Bank to produce the Statement of Account of the defunct Capital Bank spanning the duration, June 2015 to August 2017.

Additionally, the Court directed an official of the Bank of Ghana to appear on March 10, 2022, at 11 in the forenoon to tender the same.

This was after lawyers for the founder of the Bank, Ato Essien had earlier prayed the court to compel the Bank of Ghana to produce the said documents.

Already, a counterclaim had been made by lawyers for Ato Essien challenging the suit against him and others which the Bank of Ghana opposed and prayed the court to set aside.

The Court in its ruling described the BoG’s application as having no merit and rejected the same.

At the last court sitting, Mr. Essien denied taking Gh¢ 200m of a GH¢620 million liquidity support given to the Bank by the Bank of Ghana (BoG).

He noted during cross-examination that “My appropriation was only limited to the GH¢7.5 million which I legitimately earned and I had the right to use it the way I please,”.

Founder of the Defunct Capital bank, Ato Essien is standing trial with the Managing Director (MD) of the bank Fitzgerald Odonkor and the MD of MC Management Services, Tettey Nettey.

The 3 have been accused of dissipation of a chunk of the GH¢620 million liquidity support given to the Capital Bank by the BoG between June 2015 and November 2016.

They have meanwhile pleaded not guilty to various counts of stealing, abetment to stealing, conspiracy to steal, and money laundering.