ADB fingered for 'illegal' withdrawal from NUGS Account

The Immediate Past President of the National Union of Ghana Students (NUGS) has questioned the Management of the Ring Road Central branch of the Agriculture Development Bank (ADB), for allowing one person to solely withdraw a cash amount of GH¢ 23,000 from an account that has three signatories.

Mr. Wonder Madilo told the Host of the Citi Breakfast Show Bernard Avle, on Monday September 6, that the Union’s Treasurer, Mr. Bonaventure Anane-Queba, forged his signature to withdraw GH¢23,000 belonging to the union.

Mr. Madilo who has since reported the incident to the Nima Police in Accra says he does not understand why the Cashier at the Bank solely allowed the Treasurer to withdraw a cash of GH¢23, 000 over the counter without recourse to the two other signatories of the account, especially when the same person solely stopped an earlier attempt by he (Mr. Madilo) and the NUGS Financial Controller from withdrawing money from the account.

“I don’t understand why the Bank could issue a cheque of GH¢23,000 Ghana cedis cash to be collected over the counter without informing other signatories to the account.

"This is the same person who wrote to the Bank not to allow any of the other signatories to withdraw monies until issues with the Union are addressed, so what has changed overnight especially when we have not come to the Bank to rectify issues at stake. We had written far lesser an amount of that value and you decided not to honor it, yet you decide to honor a very huge amount for just one person. This is what baffles me" he said.

According to Mr. Madilo, the said amount was withdrawn on September 1, 2010, but the date on the cheque presented to him by the staff of the bank indicated the cheque was signed on August 23, 2010. He said several attempts to meet with the Treasurer over the matter have been fruitless.

“I am quite astonished about the amount that has been withdrawn because I can say that NUGS under my reign has not even spent 1/3 of that amount. In actual fact, we have spent just about GH¢ 8,000. In any case, the Treasurer is the third Signatory to the account so I don’t understand all of this” he said.

Mr. Madilo hinted Citi News that the Cashier of the Bank is to be questioned by the police. He vowed to ensure that the matter is treated as a criminal case and not swept under the carpet as has been in the past with several cases involving students’ leadership.

According to him, student leadership is gaining notoriety for acts of corruption, hence the need to nail those found guilty.

NUGS recently elected Anthony A. Abochie as the new President at its 44th congress that was nearly marred with several hitches.