Now-defunct Beige bank
Obeng Gyasi Appiah-Kubi, the former Project Supervisor at the now-defunct Beige Bank, testified that Michael Nyinaku, the former Chief Executive Officer (CEO) of the bank and the accused in the ongoing trial, approved GH¢28 million for the refurbishment of 71 branches of Beige Capital Savings and Loans (BCSL).
He detailed that the BCSL offices were rebranded to align with the institution's newly acquired status as Beige Bank.
Appiah-Kubi, serving as the defense witness, presented his evidence-in-chief at the High Court, which was presided over by Afia Serwaa Asare-Botwe, a Court of Appeal Judge with additional responsibilities at the High Court.
The witness, who also oversaw projects at the Beige Group (TBG), was responsible for technical consultation and construction oversight.
He revealed that the initial estimate for the project was GH¢30,568,000.00, but the CEO sanctioned GH¢28 million, instructing the team to proceed within that budget.
"He directed the Chief Finance Officer of TBG to facilitate the disbursement of funds, and the work was carried out from December 2016 to September 2017," Appiah-Kubi stated.
He elaborated that the team conducted reviews of architectural plans, assessed structural integrity, examined bills of quantities, and supervised the construction of new buildings as the bank transitioned from BCSL to a universal bank.
This was made possible through Babbel Limited, a subsidiary of TBG, which provided furniture, office installations, software, generators, repainting, retiling of floors, and power inverters, among other necessities, to branches nationwide.
Appiah-Kubi indicated that the project received funding from TBG following a requisition submitted to the supervisor, which was then escalated to the CEO and subsequently to the finance office for processing.
He listed several branches that underwent refurbishment, including Airport West, Atomic Junction, Ashaiman Roundabout, Pokuase, Adum-Kumasi, Bantama, Afful-Nkwanta, Tema New Town, New Abirem, Gbeigbeisee, Ashiyie, Tamale Main, Bawku, Kintampo, Berekum, Wa, and Kokompe.
Nyinaku faces charges of stealing, money laundering, and fraudulent breach of trust, all of which he has denied.
