The Commercial High Court hearing the case of the Republic versus William Ato Essien and two others, has ordered the Governor of the Bank of Ghana (BoG), Dr Ernest Addison, to produce the statement of accounts of Capital Bank (now in receivership).
The order by Justice Eric Kyei Baffour followed an application by lawyer for William Ato Essien (first accused), Baffour Gyau Ashia Bonsu, requesting the Central Bank to make the document available to the court.
The Court presided by Justice Baffour, ruled in favour of Ato Essien and his defence team, urging the Bank of Ghana to comply with the request, even though it is not clear what the defence lawyer intends to do with the statement of account.
The court moreover ordered the Governor of the Central Bank or the appropriate department to appear in court on the next adjourned date to tender the statement as requested.
“I accede to the request of learned counsel for the first accused, and hereby order the registrar of the Court to seal a subpoena directed at the Governor of Bank of Ghana, who shall direct the appropriate department of the Bank of Ghana, that is in charge of the statement of account of commercial banks to produce the bank statements of capital bank (now in receivership) from June 2015 to August 2017.
“An official of the Bank of Ghana is to appear in court on the 10 March, 2022, at 11am to tender the statement of account before the court.”
Justice Eric Kyei Baffour
Meanwhile, in court today, 3rd March, 2022, the first accused person (William Ato Essien) called Dr. Isaac Nyame as his first witness. Dr. Isaac made known to the court that he is a chartered accountant, fellow of the association of chartered certified accountants and also a fellow of the Chartered Institute of Taxation (CIT).
Assistant State Attorney Cross-examines Dr Nyame
Anastacia Karimu, Assistant State Attorney, after Mr Nyame tendered and read his witness statement in open Court, cross examined him based on his evidence.
Among others, Anastacia Karimu, put it to the witness whether or not he is “aware that all the monies used in acquiring shares in sovereign bank was taken from Capital bank by the first accused person?” Mr Nyame answered in affirmative saying “yes, I am aware”.
However, Dr Nyame denied the Assistant Attorney’s question which suggested that he had access to the financial records of Sovereign Bank. Dr Nyame thus, insisted that he did not have access to all the financial records of Sovereign bank.
“My Lord, financial records include not only audited or unaudited financial statements. There are several records which we refer to as underlying records to the financial statements. The underlying records are supposed to be the source documents for the preparation of the financial records. Those documents were not made available to me by lawyers of the first accused.
“However, the financial statements themselves were made available by the solicitors of the first accused and therefore, the information I required for my work was not to review the entire financial record but to review the financial statement that will enable me get comfortable that the information I required was sufficient and appropriate for my work”.
Dr Nyame
The court following the completion of cross examination of the witness, Dr Isaac Nyame, thanked him for his evidence and discharged him as a witness. Meanwhile, sitting is expected to continue on the 10 March 2022.
Mr. Ato Essien and two others were dragged to court for their role in the collapse of Capital Bank. They were charged with 23 counts including: stealing and money laundering.
