Fear has gripped some board members of GCB following media publications that the country’s leading bank has been advancing some questionable loans to some undeserving clients over the past two years .
This paper is reliably informed that , some members of the board were visibly shaken on Thursday when they got to know that some confidential documents relating to some questionable activities at the bank were in the possession of some media houses.
Some of them frantically made calls to some influential people in the media, pleading for a ceasefire with the excuse the reports could be damaging to the bank and innocent persons.
The Board Chairman of the leading local bank in the country, GCB, Daniel Owiredu is being accused by some board members and other top officials of taking some unilateral decisions, which could have dire consequences for the bank.
Chief among the allegations are the chairing corporate subcommittees and approving ‘uncollaterised’ loans for cronies.
The Board chair is currently chairing a Credit sub-committee- an action which violates modern corporate practices.
“How can a whole board chairman chair a Credit subcommittee of a bank? What’s his interest? This thing has been going on for so long and something must be done about it,” an angry top official revealed.
According to sources, there are so many competent and equally experienced officials at the bank who can head that particular committee and that there is everything wrong with Mr Owiredu taking up that particular position.
A top management expert who wants to remain anonymous told this paper that, the action of the board chair is quite curious, pointing out that other that state- owned banks in the country abhor such practices. “The board chairman’ action is quite curious and suspicious and I would advise him to vacate the position immediately,” he said.
Mr. Owiredu was President of the Ghana Chamber of Mines and the Executive Vice-President and Chief Operating Officer of Golden Star Resources Limited, a Canadian mining company operating in Ghana before he was appointed to the GCB Board.
According to sources, the action of the board chairman could problems for the bank if not checked as there is a new management in place.
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