NATIONAL INVESTMENT BANK TO LAY OFF 500 WORKERS ! ! !Information reaching GNS. suggest that the NATIONAL INVESTMENT BANK {NIB} is to lay off 500 work

Information reaching GNS. suggest that the NATIONAL INVESTMENT BANK {NIB} is to lay off 500 workers.
GNS. could say with absolute authority that the bank is near bankruptcy,due to the way its Managing Director,Mr Daniel Gyimah
financially mismanaged the institution for the benefit of his family
and friends.
Dan Gyimah is currently being held on the charges of wilfully causing financial loss to the state and forgery of documents.
Reading out the new facts, the prosecution told the court that on May
7, 2007, in an attempt to wilfully cause financial loss to the state,
Gyimah unilaterally entered into an agreement with Eland International
Limited Ghana in which he used the bank as a guarantee.
Based on that Gyimah issued 30 promissory notes valued at 60 million United States dollars to Eland, whose secretary is his son.
The prosecution said Eland contacted Iroko Security Company Limited
within the period and quickly discounted the 60 million dollars and the
promissory notes for 45 million dollars.
On January 29, this year, the International Bank Section of NIB
received a swift message requesting the bank to confirm payment of the
promissory notes.
The prosecution said Gyimah was therefore notified of the irregularity
of the message by head of the bank’s International Banking Section.
Gyimah on receipt of the notice ordered the Department to confirm and it was complied with.
Meanwhile, the prosecution said, the document on the deal between NIB
and Eland cannot be traced, as Gyimah claims the documents were missing
from their records.
In statement to the Police, Gyimah admitted having guaranteed on behalf
of NIB adding he made a mistake by not informing the bank’s Board of
Directors.Investigations revealed that several documents including a
report on goods under the control of NIB for Eland as at December 1,
last two year had been detected as forged by Gyimah.
GNS.can say that hundreds of such deal related to Dan Gyimah involving
the NATIONAL INVESTMENT BANK are currently under investigations by
state anti corruption agencies.
The National Investment Bank Ghana,was established in 1963,by OSAGYEFO
DR KWAME NKRUMAH,the first president of Ghana, to serve as a
development bank.
GNS hereby promise to provide readers with vivid inside information on the issues related to the NIB. soon.