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Beige Bank Case: BCSLs undertook a lot of branch expansion works before it’s transition into The BEIGE Bank – Witness to Court

The former Head of Service Quality of The Beige Group, Okbell Majdoub, has told the High Court in Accra that, the Beige Capital Savings and Loans (BCSL) carried out expansion work prior to its being transitioned into The Beige Bank.

According to her, her office was in charge of setting up all branches as part of the BCSLs becoming ‘The Beige Bank.’

Okbell Majdoub, made this known when she was testifying as the Fourth Defense Witness in the ongoing trial of Michael Nyinaku.

Mr. Nyinaku, the founder and Chief Executive Officer of the defunct bank, has been accused of allegedly siphoning customers funds and has been charged for stealing GH¢2.1 billion of depositors’ money from the bank.

He has pleaded not guilty to 43 charges including stealing, fraudulent breach of trust and money laundering and has been granted bail.

The fourth Defense Witness, while being led by Lawyer Thaddeus Sory to give her Evidence-in-Chief before the Court presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge, said her testimony was based on her involvement.

“I know that Beige Capital Savings & Loans undertook a lot of branch expansion work as part of activities marking its transition into becoming The BEIGE Bank.

“I know this because I was Head of the Service Quality at TBG and my department was responsible for setting up all the branches as part of the transition of BCSL into TBB,” he told Justice Asare-Botwe’s Court.

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“These upgrades of branches involved branches that existed prior to BCSL obtaining the universal banking license and new ones that were acquired during the transitional period.

“I can confirm that all the activities that were undertaken by my department as part of the transitional projects were funded by TBG using funds either received from the finance office of TBG or from the CEO’s secretariat,” the 4th Defense Witness who described herself as an entrepreneur said.

“I can also confirm that the pay vouchers attached to my present statement represent a sample of many such pay vouchers evidencing payments being made for activities undertaken by the department as part of the transitional projects.

“I can confirm that the expenditure report submitted by my department together with its related attachments were indeed the expenditures that accounted for funds received from the office [finance office of TBG and CEO’s secretariat] to be utilized in executing SQ’s scope of work within the projects that were being executed on behalf of the bank and I can further confirm that a lot of these projects were still ongoing at the time the bank was placed under receivership,” she told the Court.

The former Head of Service Quality of The Beige Group, Okbell Majdoub, is the fourth of the 61 Witnesses expected to be called by Mr Nyinaku.

*Find attached full Witness Statement of 4th Defense Witness*

Source: Kasapafmonline

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