StanChart CEO escapes jail

Kweku Bedu-Addo, Chief Executive Officer of Standard Chartered Bank Ghana, has escaped jail term after he purged himself of a contempt conviction pronounced on him by an Accra High court.

On May 11, Mr Bedu-Addo, together with the Head of HR West Africa of the bank, Rosie Ebe-Arthur, were cited for contempt after Standard Chartered Bank failed to obey the court’s order restraining them from going ahead with a planned redundancy exercise.

They were to pay GHS20,000 each by today, Monday June 6. On Monday’s sitting, Justice Kwaku Arkaah-Boafo, held that the two, as well as the bank, had duly purged themselves of the contempt they were cited for.

According to reports, lawyer for the workers, Prince Fredrick Nii Ashie Neequaye, told the court that the bank had not fully purged itself of contempt, arguing that though the bank had recalled the affected staff, it had failed to yield to a request to explain and put in writing further instructions for the workers.

“The bank, in my view has not purged itself. …What is the essence of writing a letter and saying that you will give further instructions, and you have not given the further instructions up till now. If the bank can purge itself of the contempt then it will give my clients access and locations,” he told journalists.

“But if the Bank has confined all of them into one small room at the Opeibea House, ten people, how do they work?” he queried.

The Judge, in his ruling during court proceedings, said the request for further details on instructions and issues of salaries were not before him and could not rule on that as it was not within his jurisdiction. He urged the plaintiffs’ lawyer to use another forum to deal with the matter.