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03.08.2006 Business & Finance

Investigations ongoing at Standard Chartered

By The Chronicle
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Three employees of the Dansoman branch of the Standard Chartered Bank Ghana Limited (Stanchart) have been suspended and are assisting the Police with their investigations into possible collusions involving cheque transactions.

The Management of Standard Chartered Bank Ghana Limited have hinted that it had uncovered certain irregularities at the Bank's Dansoman branch, and that the development was currently under investigation by the Police.

It added that the branch, however, remains open and is conducting business as usual.

This and others were contained in a press release issued by the Area Head of Corporate Affairs, West Africa, Nii Okai Nunoo, in Accra yesterday.

According to the Bank, its investigations into an in-house clearing cheque, revealed some irregularities in the transaction. This triggered an internal investigation, with initial indications that there was a possible collusion involving some staff of the Dansoman branch.

The release said the incident had been referred to the Dansoman Police for a full-scale investigation.

Commenting on the issue, the Chief Executive Office, Ebby Essoka, indicated that “given the current high staff engagement levels, it was unfortunate and disappointing that three staff have been implicated in these irregularities.

Standard Chartered's strong governance culture and code of conduct makes it impossible for this type of behaviour to be condoned.”

He added that the Bank will go the full legal length to get appropriate correction and sanctions from the Ghana Legal system for all those found to have been engaged in this unacceptable action.

The Bank's management said it was assuring all its customers and the general public that it was in full control of the situation and that the Dansoman branch would continue to remain open for business, which it said, would be run by capable, competent and trustworthy professionals

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