Businessman arrested for issuing dud cheaque

Gomoa Afransi, July 11, GNA - Mr. G W Dickson, Managing Director of Desire Recoding Studio, who attempted stealing from the Gomoa Ajumako Rural Bank with a dud cheaqe for 500 million cedis has been arrested by the Agona Swedru Police.

The criminal act was averted through the alertness of Mr George Otesiku-Baah and Mr Robert Job Arkoh, a worker and Senior Manager of the bank.

Mrs Rose Enestina Newman, Chair Person of the Bank announced this at the 19 Annual General Meeting (AGM) of the Bank at Gomoa Afransi. Dickson who had only 67, 000 cedis in his account issued a cheque for 500 million cedis to Messrs Rings Construction Company at Agona Swedru.

She stated that despite the speed and precision the deal was executed, the plans were nipped in the bud, adding that Mr Dickson was reported to the police and was subsequently arrested and according to the polices the case is being investigated and that he would soon be put before law court.

She said the bank made profit before tax of 126.1 million cedis in 2004 as against 64.3 million cedis in 2003 . Mrs Newman stated that the bank granted loans totally 1.7 billion cedis to 1123 customers in 2004 as against 1.2 billion cedis to 722 customers in various sectors of the economy. The Chair Person noted that the Board of Directors of the Bank had recommended the payment of 10 cedis per share dividend to shareholders amounting to 11,854,500,00 while a bonus share of 10 cedis was also paid on each share.

She said the bank disbursed 172 million it received from the Ministry of Women and Children Affairs under the government micro-finance project to 344 women groups.

According to the her another 167 million cedis was also received from the Special Assistance Loan Scheme and had been disbursed to farmers groups in the area and described the recovery as encouraging. Mr Ken Owusu-Twumasi, Head Human Resource APEX Bank said the ARB Apex bank had opened a branch at Takoradi to cater for rural and community banks in the Western and Central Regions.

He said the bank was making efforts to train managers and staff of rural and community banks to enable them improve banking services to the people in the rural areas. 11 July 05