GCB bank threatens legal action against GGAG over corruption allegation against its board

The GCB bank has through a statement threatened to take legal action against Good Governance Advocacy Group (GGAG) for accusing its board of corruption.

The group in several publications has alleged that the board of the Bank is engaged in corruption, abuse of office, conflict of interest, and capricious use of discretion.

Not taking the accusations likely, the GCB bank has released a statement dated April 16, 2021, to set the records straight.

“The Board of the Bank denies all the allegations leveled against it in the said petitions and state emphatically that, the accusations and assertions made by GGAG are false inaccurate, misleading, mischievous, unmeritorious, frivolous and vexatious designed to bring the image of the Board and the Bank into disrepute,” part of the statement from the GCB bank has said.

The statement adds, “As a listed company, the Bank reserves the right and will take the necessary and appropriate steps including legal action to protect its brand and reputation. The Board assures all stakeholders of the Bank including but not limited to shareholders customers and the general public that, it is focused on its agenda of positioning GCB Bank Limited as a dominant player in the Ghanaian banking industry.

Find below the full statement from GCB bank: