An intercepted letter from Deputy Auditor-General George S. Winful addressed to the Managing Director of GCB Bank LTD shows a total of GHC 52.5 billion allegedly transferred to some undisclosed sources from GCB’s accounts.
“The letter explains, “The Ministry of Finance engaged your tax revenue collection services across the nation in its search to increase government revenue. We have reconciled the flow of funds from the transit accounts to the BoG Holding Accounts to determine the integrity of the banking arrangements.
The audit service disclosed that GCB Bank transferred a total of GHC 52,537,175,778.13 to undisclosed sources, contrary to the agreement to move funds into designated BoG Holding accounts.
GCB Bank was further asked by the Audit Service to include those bank statements which were absent from the documents submitted for review.
This will allow them to assess the completeness of the transactions between the list and the holding accounts, they demonstrate.