Why Shai-Rural Bank Management And Staff Should Bow Down Their Heads In Shame

Corruption! Corruption!!Corruption!!! Everywhere and you think it is only political leaders who are corrupt or police institution? In philosophical, theological, or moral discussions, corruption is spiritual or moral impurity or deviation from an ideal. Corruption may include many activities including bribery and embezzlement.

Government, or 'political', corruption occurs when an office-holder or other governmental employee acts in an official capacity for personal gain.so with this definition if you are part of the problem in the bank you are also corrupt! But this time around we will be monitoring happenings in the bank especially with the new 4million cedi's you are going to inject into the bank, any way the bank is going to be rebranded so let see how it goes!

I have a problem with my people in Shai, everybody is afraid to rise up and speak up and you think you cannot enrich yourself using the right channel? Why do you have to enrich yourself using clients monies deposited in the bank for buying your cars, houses, living luxury lifeclass and so forth? Whether recapitalization or no recapitalization you guys have daunt the image of the good people of Shai, but remember I know most of you guys will like to enter into politics in the near future or probably any government positions and this thing will go a long way to tarnish your image.

We shall all give an account of the work the lord gave to us in this life surely!Some of us from Dodowa went through lot of challenges to establish ourselves so if someone like I was able to come out from this town and has now becomes a national asset why can't you guys also believe that you can do it without embezzling funds to disgrace yourself. Let me ask this question to you all. Can you tell people confidently to look at you and follow your footstep? Can you be blameless before the Lord? Can the lord boost about you like what he told Satan about Job?

“Then the Lord said to Satan, “Have you considered my servant Job? There is no one on earth like him; he is blameless and upright, a man who fears God and shuns evil.”

For me I was happy one day someone said “look at Ralph in Dodowa if today he is successful who will question his wealth”This is what I want and I want to be a shining example to others in the dangme land and that is why I said “Dangmes without Borders”

Dangmes says why? And I say why not because am proud to be a dangme!Nothing stops me to be a dangme because I live a life of favor!

Which way will we choose Shai? When I heard the news making rounds about the shai rural bank and the happenings in the bank , I didn't believe it but until I read it online ”Shai rural bank struggles to stay afloat” and my heart beep pa!

http://www.ghanaiantimes.com.gh/shai-rural-bank-struggles-to-stay-afloat/#sthash.BHm81zIS.dpuf. The article stated thatthe Shai Rural Bank is inching towards insolvency after depositors panicked and reacted to alleged stealing and misapplication of funds by withdrawing their deposits in droves.

A high ranking official of the bank, who pleaded anonymity, said loans were rampantly given out to both staff and favoured customers without recourse to banking rules and best practices.

According to the source, for some time now, even pensioners struggle to access their stipends due to the bank's liquidity problems.

“The Shai Osudoku District Assembly has some funds locked up while the local Ghanata Senior High School is also struggling to access its monies lodged in accounts managed by the Bank.”

Meanwhile, the Apex bank, the umbrella body of the country's rural bank, has interceded by appointing auditors to conduct forensic auditing of the Bank's transactions to ascertain the spread and depth of the muddle.

The management of the Shai Rural Bank has declined to speak on the issue but in an interview with Mrs. Eunice Osei-Bonsu, Public Relations Manager of Apex Bank, she confirmed the bank's misfortune to the Ghana News Agency but indicated that discussions are ongoing to see how best to resuscitate it since its collapse would be fatal to the communities in and around Dodowa.

According to her, the normal practice is that, such distressed banks are re-capitalized with the help of the Association of Rural Banks and the Apex bank with the blessing of the Bank of Ghana.

The Shai Rural Bank, headquartered at Dodowa in the Greater Accra Region, has existed for more than thirty years.

It was established primarily to mobilize deposits within its catchment area, which is predominantly agrarian, design and offer appropriate financial services to boost rural based economic activities. So this story made me to feel very bad as an indigent but just last Saturday I heard of a meeting that took place at the Presby church in Dodowa, Salemand for once as an indigene of Shai and a proud dangme I was happy to see the headlines again “Shai Rural Bank to be recapitalized - Ghana Web.www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID...

According to the story, The Shai Rural Bank is to be recapitalized to the tone of 4 million Ghana cedis before end of 2014 following fruitful recovery measures adopted by management after a near plunge into insolvency.

Mr. Ebenezer Djagbeletey, Board Chairman of the bank, told shareholders at the Annual General Meeting on Saturday that measures had been taken to resuscitate the bank and called for support and patience to see the institution through the difficult times.

“All the negatives which ganged up to push the bank into near insolvency were overstaffing, corruption and incompetence,” he said.

He assured shareholders that the bad practices had been eliminated and announced that a rebranding exercise was underway to restore confidence and the marketability of the bank.

Mr. Djagbelety said four financial institutions were awaiting the report of a forensic auditing conducted on the operation of the bank to declare their full intentions and commitments as strategic investors.

“They are certainly willing to put money into the bank because of the strategic importance of the bank but they must know what went wrong and what steps will be taken to make the bank viable,” he said

A shareholder, Narkwor Narh-Bana, called for more stringent measures to save the bank as previous managements failed to properly supervise staff.

No dividend was declared.
The Shai Rural Bank, headquartered in Dodowa in the Greater Accra Region, has existed for more than 30 years.

But this development in the bank started long time ago but it appears management did not take measures or probably they were blind. Now we were told the bank is going to be rebranded that means the name Shai is off! Nothing more for the people of Shai-Osudoku but what is actually the cause of the problem? Why the board members did employed an alleged ex-convict as their manager as you know you dealing with a financial institution? Ah! This people!! Does it mean staff recruitment is based on favoritism and not on who can do the job? Oh my God save your People in Shai-Land!

Well a report by peacefmoniline www. news.peacefmonline.com/pages/news/201001/36029.php Jan 7, 2010 stated that the Managing Director of the Shai Rural Bank, Abraham Nortey Tetteh, may soon be facing the full rigours of the law for allegedly duping several customers of the bank to the tune of about 150million, source revealed.

The Manager of the bank, an alleged ex-convict, is also accused of preventing auditors from the Banking Supervision Department of the Bank of Ghana from auditing transactions of the Shai Rural bank since he assumed office in 2009.

Sources within the Bank informed The New Crusading Guide that in a bid to cover up his illicit deals, Abraham Nortey Tetteh, has connived with the District Chief Executive (DCE), Emmanuel Anyemi Odoi Lartey, Israel Kofi Dadebo, one Ajakli, who is the District NADMO Coordinator, and Steven Ayartey, an assemblyman for Kodiabe, to put pressure on the chairman of the Shai Rural Bank, Nene Awate Bana to resign.

According to Nene Bana, who is the Todornya Matse of Dodowa and Acting President of the Dangme West Traditional Area, he is being intimidated to resign due to his unstable relationship with the DCE on chieftaincy related matters and the District Assembly Common Fund.

Sources indicate that the said interest group wants to do away with the current chairman in order to appoint Steven Ayartey, the assembly man for Kodiabe as the new chairman of the bank with Ajakli and Israel Dadebo as his deputies. According to the chief, the new appointments if successful would allow the DCE the Manager full access to the District Assembly Common Fund without going through the laid down procedures of the bank. According to a reliable source, Abraham Nortey-Tetteh, who was a former Director of the Ghana Water Company Limited (GWCL) in the Gushegu area, was caught red handed, diverting and selling two drums of diesel belong to the company few years ago. Sources noted that he was subsequently arrested, prosecuted and imprisoned. However, some strange circumstances led to his acquittal after serving some few months in jail. Some 'big men' in his family were believed to have facilitated his release from prison. According to sources, a close relative facilitated his appointment as head of the Adenta Agency of the Bank.

Investigations indicated that whiles at Adenta, he managed to collect several million cedis belong to some 'Susu' collectors in the area who are customers of the bank and failed to properly account for the money before he was transferred to the Head Office at Dodowa. At the headquarters, he was made the Manager of the bank after the former manager left for Europe to pursue his Masters' degree programme.

The alleged graduate from the All Nations University with a Degree in Accounting is said to be currently using his position to bully his subordinates, suspending them whenever he wanted. It is evidence that he suspended the chief cashier of the bank, Victoria Tetteh, indefinitely for refusing to adhere to his rules after Victoria forced him to account for a ¢70million cash he withdrew to organize a failed Annual General Meeting in December last year.

According to Victoria, the Manager invited her to a special lunch at the Forest Hotel and informed her that he had received information from the Bank of Ghana wanted to help to recapitalize the Shai Rural Bank with an amount of 4billion cedis. Victoria said the Manager wanted her to be part of the committee that would build the bank apartment and the premises so she could help him divert some of the funds to enable him to build a four bedroom self-contained apartment.

“When I refused the deal he decided to punish me and this brought up the misunderstanding between us.” I want the Bank of Ghana to initiate full scale investigations into the issue and properly audit the accounts of the bank to help save the bank from collapsing. Due to his illegal withdrawals, the bank is finding it difficult to pay its customers who have deposited their monies, she submitted.

On his part, Nene Awate said he still remained the Board Chairman of the Shai Rural Bank until the Bank of Ghana has fully investigated the issue and audited the books of the bank. He said whiles he remain the chairman he will ensure that the District Assembly common fund is properly accessed and would not allow the DCE and the bank manager to abuse the public fund. He has also requested the ARB Apex Bank to put pressure on the Shai Rural Bank to suspend the Annual General Meeting, which will be organized on Saturday since the bank's accounts have not been audited. When the New Crusading Guide managed to contact the Managing Director of the Shai Rural Bank on telephone, he refused to react to all the allegations leveled against him and invited this reporter to come down for proper interview.

He rudely hanged up when this reporter went ahead to ask further questions. Meanwhile, Mrs. Eunice Osei Bonsu, of the ARB Apex Bank has assured the New Crusading Guide that her outfit would fully investigate the matter and come out with the truth.

So all these are factors that contributed to the crisis of the bank and that are why I think it is about time the board management and all staff that are involved in this problem should be shown the exit door. Enough is enough and the good people of Shai-Osudoku deserve better treatment. I also think that Dodowa is now developed that we need more credible financial institutions in Dodowa. I wonder why we don't have Ghana Commercial bank and other big banks in Dodowa. I entreat you brethren in Shai Land to open your eyes, let the people be accountable for everything that they are doing just look at the shining example of Manya –Krobo rural bank. So if this is what went on in the bank then what about the governmentinstitutions over there? Hmmm! Asem ye di ka ! Why? I need answer now! For the managers of all the bank branches be it microfinance or the main bank and staff I say bow down your heads in shame!

Dr. Raphael Nyarkotey Obu: ND (TAP00396)
Integrative Oncologist
President-Dangmes without Borders
Dangmes for life!

Dr. Raphael Nyarkotey Obu is a registered Naturopathic Doctor, ultrasound expert, renowned Prostate Cancer expert, ambassador and Cancer Psychologist focusing 100% on Men's prostate health. My holistic, naturopathic approach is exclusive for people combating Prostate Cancer, Prostatitis, Bladder Pain / Pelvic Pain and Male sexual dysfunction.

My research, writings and professional passion are exclusive to these conditions: Cancer of the prostate, Enlarged Prostate, Prostatitis, Male sexual dysfunction, Pain (specifically pelvic pain) and urinary incontinence. Treatments include: medicinal herbs, individualized nutrition, supplements and massage.

My research interest are black race and prostate cancer, Doppler for prostate cancer diagnosis, Naturopathy oncology and the Dangme People in Ghana. As a Prostate Cancer Planner for Patient he is passionate with staying up-to-date on cutting-edge prostate cancer research. With Dr. Obu, you will know if doing nothing (or Active Surveillance) is best for you. If you need medical treatment, he knows all the main players and can facilitate a visit both in Ghana and abroad. He is the CEO of De Men's Clinic & Prostate Research Lab in Dodowa-Akoto House and the founder of Men's Health Foundation Ghana. Contact: oburalph30@yahoo.co.uk. Tel:0541090045

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