¢7b Scandal Rocks Bank of Ghana

• Hajia Baby Ocansey is principal character

ANOTHER financial scandal this time involving $1.5 million (over ¢7 billion) has allegedly rocked the Bank of Ghana (BOG).

At the centre of the scandal is one Hajia A. B. Abubakar Sadiq, popularly called Hajia Baby Ocansey, who has a long criminal history and convictions.

Two top officials of the BOG, Mr. S. K. D. N. Gavor, Director, Budget and Accounts Department and J. A. N. O. Larbie, Deputy Director, Banking Department, are also suspected to have connived with Hajia Ocansey in defrauding the bank of the amount.

Four other officials of the bank, Mrs. Caroline Kessie, Deputy Manager Foreign Operations; Mrs Dorothy Nyarko, Assistant Manager; Mr. Emmanuel Ashie, Officer One and Mrs Angelina Mensah of the Foreign Exchange Unit (FEU) are helping in investigation into the matter.

According to sources, the alleged scandal, which involves the honouring of fake bank draft, dates back to November 26, last year when Hajia Baby Ocansey allegedly presented the bank draft to the BOG through Mr Gavor for payment.

The draft was to be drawn on Chase Manhattan Bank of the U.S. and was to be paid to the order of Hajia Baby Ocansey and Mr. Gavor who had allegedly become a co-beneffitiary of the cheque.

The OBC Unit of the BOG in conformity with the rules of honouring such cheques, reportedly sent the draft to CitiBank of New York, its collecting agency for verification and approval.

On December 2, last year, the BOG received an advice from the CitiBank to the effect that the draft had been received and that some time was needed for certification and clearance to be effected.

On December 16,1999, Mr. Gavor allegedly in his haste to bring the transaction into fruition, offered the use of his official telephone to Mr. Ashie Dsani to contact someone purporting to be an official of CitiBank of New York on the transaction. Subsequently a fax message on the transaction was allegedly sent to the BOG through Mr. Gavor’s office.

Mr. Gavor shortly afterwards was also alleged to have enquired from Mrs. Nyarko and Kessie when a schedule for payment was going to be prepared since his enquiry about the bank draft revealed that it had value.

Investigations revealed that on the same day, December 16, 1999, the OBC Unit of the BOG actually prepared a schedule of payment for $1.5 million in the names of Hajia Amina B. Abubakar-Sadiq and S. D. K. N. Gavor.

The BOG is reported to have received a fax message allegedly confirm the deposit of the $1.5million to BOG’s credit but stated that this was still subject to rules governing cheques and their clearing.

Contrary to the five-week period needed for the certification and approval of such transactions, Mr. Larbie, Mr. Ashie Dsani, Mrs Nyarko and Mrs. Kessie on the prompting of Mr. Gavor allegedly facilitated the transactions which culminated in Hajia Baby Ocansey being paid in cash on December 17,1999 to the tune of $1,485,000 in Mr. Gavor’s office after $15,000 being one percent commission was deducted by the BOG. Mr. Gavor reportedly endorsed the transaction.

According to investigations, the BOG on January 19, this year, received from CitiBank of New York, debit advice to the tune of $1.5 million. The reason assigned was reportedly “Refer to maker” an euphemism for invalid accounts or a bounced cheque. This was reportedly received by Mrs. Nyarko.

Upon the report of the bounced cheque by Mr. Ashie Dsani to Mr. Gavor, the latter is reported to have told the former to leave that matter in his hands.

On February 16, 2000 Hajia Baby Ocansey through Mr. Gavor presented Mr. Ashie Dsani with a replacement cheque drawn on the same Chase Manhattan Bank for the same amount which was subsequently sent by the OBC unit for collection to CitiBank.

Almost a month later — on March 13, 2000 — the replacement cheque was also dishonoured this time with the reason that it was a counterfeit.

Mr. Gavor in the face of this developments allegedly convened a meeting in his office between all the officers involved in the transaction and Hajia Baby Ocansey where upon the later allegedly promised to get in touch with partners to rectify the problem. That was the last time anything was seen or heard of her. She vanished into thin air and has since been on the run.

It was after this, specifically on April 17, 2000, that the matter came to the attention of the higher authorities of the BOG who, after a period of internal enquires, reported the matter to the Police on May 10, this year, leading to the arrest of the said officers of the Bank.

All except Larbie and Gavor are currently on enquiry bail pending the conclusion of investigations.

BOG officials were tight-lipped when the Graphic enquired as to why it took them all this time to get wind of the scandal.

A source, however, said in an interview that Mr. Larbie and Mr. Gavor have been suspended by the management of the bank and the latter asked to hand over to Mr. J. B Alhassan until investigations into the matter were concluded.

It declined to comment on the fate of the other officials of the bank allegedly implicated in the scandal.

Meanwhile, the authorities have complained about the decision by an Accra High Court presided over by Mr. Justice Gyamerah Tawiah granting an application for Habeas Corpus to Mr. Gavor in the sum of ¢10 million with one surety to be justified.

The court ordered Gavor to report to the police thrice in a week.

In a related development, the National Security Council has expressed its reservations about the granting of bail to Gavor and requested the Attorney-General and Minister iof Justice to initiate an immediate review of the ruling in order to safeguard the national interest.

In a letter copied to the Chief Justice, the National Security Council said “from investigations conducted so far, it is clear that Gavor was most instrumental in the fraudulent withdrawal of the money and his release would not be conducive to the ongoing investigations”.

The letter recalled that the BNI arrested Gavor and Justice Larbi, both senior officers of the BOG, in connection with the fraudulent withdrawal of $1.5 million from the Central Bank.

According to the letter, the BNI obtained a warrant on Friday, May 13, 2000, from the Osu Community Tribunal to keep the suspects in custody to assist with investigations adding that “on Monday, May 15, 2000, the lawyers of Gavor filed a writ of Habeas Corpus before the High Court”.

The application said the court revoked the warrant to keep the suspect in custody and proceeded to grant a bail of ¢10 million to Gavor and described the ruling as strange, especially when the sum involved is $1.5 million.