The Managing Director of ARB Apex Bank, Kwadwo Aye Kusi, has been asked by the Bank of Ghana to proceed on leave from Monday, 28 November, pending the conclusion of investigations into mismanagement claims levelled against him by staff of the bank.
In a statement signed by Francis F Blankson, Acting Head, Financial Stability Department, the Bank of Ghana said it “has received a complaint lodged by the local workers union of ARB Apex Bank and a petition filed by a member of staff against the MD citing issues of bad corporate governance, disregard of the bank’s policy, and financial malfeasance, which could affect operations of the bank”.
Consequently, management of Bank of Ghana has tasked the Financial Stability Department to conduct investigations into the aforementioned.
It has, therefore, asked the bank, its management and staff to be informed of the following:
1. Investigations to ascertain the truth or otherwise of these allegations are ongoing and are expected to cover the period 21 November to 2 December 2016
2. The team may need to call randomly on directors, management and staff of ARB Apex Bank to clarify issues
3. While we assess grounds for the complaints and take responses and explanations, it is expedient to ensure a calm working atmosphere at the bank
4. For unfettered access to documents and information, it is required that the subject of investigation (MD) stays out of the office
5. The MD is, therefore, directed to proceed on his outstanding leave with effect from Monday, 28 November, 2016 until investigations are concluded
6. The outcome of this exercise shall be communicated to all concerned in due course.
We trust that the governing board will ensure implementation of the above and stable business continuity at the Apex Bank during this period.
Source: Ghana/ClassFMonline.com/91.3FM
