Court orders former Chief Finance Officer of defunct Capital Bank to appear before it

An Accra High Court hearing the GH¢620 million defunct Capital Bank scandal has ordered the appearance of Mr Emmanuel Niikoi, a former Chief Finance Officer of the collapsed bank to appear before it.

The court presided over by Justice Eric Kyei Baffour’s order came after Reverend Fitzgerald Odonkor, a former Managing Director of Capital Bank, through his lawyers, had prayed the court in April this year to subpoena Mr Niikoi.

Justice Eric Kyei Baffour, a Court of Appeal Judge, sitting with additional responsibility as High Court Judge on Thursday ruled: “As third accused person (Rev. Odonkor) has already served a subpoena on Emmanuel Niikoi to appear before the court but the date for his appearance was uncertain, I hereby order that subpoenaed witness appear before the court on July 28, 2022.”

“The case is, therefore, adjourned to July 28,” the court ruled.

Meanwhile, the State led by Mrs Marina Appiah Opare, Chief State Attorney, today, July 21, 2022, completed the cross examination of Rev. Odonkor.

Answering questions at the end of the cross- examination by the State, Rev. Odonkor, the third accused person in the case, told the court that all placement of money with Nordea Capital by the Capital Bank were backed by written requests and issuance of certificates.

“It is not possible for me in my position as the managing Director to request for issuance of commercial paper by mere telephone call or without any documentation backing it.”

Rev. Odonkor said all transfers were duly recorded in the books of the Bank and examination reports also covered the placements.

“It is the responsibility of the Treasury Department to make sure that all placements duly made by the Bank are properly recorded.”

Rev. Odonkor denied ever requesting one Dr Bart Williams, a witness, to issue commercial paper GH¢20 million made to a company known as Britlin Services.

He said the defunct Capital Bank had no business with Britlin Services

Rev. Odonkor is standing trial with two others in the GH¢620 Million defunct Capital Bank case.

The two are William Ato Essien, former Chief Executive Officer of Capital Bank and Tetteh Nartey of MC Management Service owned by Essien.

The accused persons are standing trial for allegedly conniving and stealing GH¢620 million liquidity support offered by Bank of Ghana to the Bank.

They have denied the charges and are currently on bail.

Source: GNA

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