Don't
impose restrictions on withdrawals - Yamson
Bribery
scandal - four employees of Judicial Service fired
Rawlings
sign manifesto with his blood
'Money
swine' at NDC manifesto extravaganza
Reform
or NPP ? Kofi Wayo to decide
JJ
ordered removal of party banners
Debate
over NIB's 1st half-year results
Daily
Graphic
Don't
impose restrictions on withdrawals - Yamson
The
Daily Graphic reports in a front-page story that Mr. Ishmael Yamson, President
of the Ghana Employers Association (GEA), has advised the Central Bank against
imposing restrictions on commercial banks over withdrawals of huge sums over
the counter by public and corporate bodies.
The
restrictions, Mr. Yamson cautioned, will discourage people from saving, thereby
creating a tendency for the keeping of money outside the banking system.
"By
openly expressing concern about the rate of withdrawals from the commercial
banks, people may get the impression that there may soon be a ceiling to which
they can withdraw."
Mr.
Yamson said there is no law barring depositors from withdrawing as much as they
want from their accounts and called on the Central Bank to keep mute over the
issue so as not to create panic.
He
criticised corporate bodies that withdraw large sums of money from the banks to
purchase dollars, saying the practise is irresponsible because it only
accelerates the depreciation of the cedi.
More…/
Bribery
scandal - four employees of Judicial Service fired
Graphic
in its banner story reports that, four employees of the Judicial Service have
been dismissed for their complicity in an $8,000 bribery scandal involving a
narcotic drug case before an Accra Regional Tribunal.
Charles
Mensah-Addo, Patrick Samuel Awortwe, both panel members of the tribunal; Lionel
N.K. Quartey and Adeline Okine, both court clerks, are said to have confessed
having taking bribe from a drug suspect, Serifatu Bokula Quadri, who is standing
trial before an Accra Regional Tribunal charged with possessing the drug.
Quadri
had pleaded not guilty to the charge and was granted bail to enable the Bureau
of National Investigations (BNI) to conduct further investigations.
In
the course of investigations, the court officials, including the then chairman,
Lt. Col. Mensah Brown (rtd), were accused of having taken bribe involving large
sums of foreign currency leading to their interrogation by the BNI.
Four
officials of BNI, accused of complicity in the deal were interdicted with two
of them, Paul Forkuo and Dela Dogbey later being dismissed.
GRi…/
The
Evening News
Rawlings
signs manifesto with his blood
The
Evening News says the fourth of nine auctioned copies of the NDC manifesto for
the year 2000 launched in Accra on Tuesday was specially autographed by
President Jerry John Rawlings with streak of his blood.
The
copy, bought at 160 million cedis by John Kofi Adams, a businessman, also had
the foreword, "Divine gift of June 4". The auctioned copies fetched
915 million cedis.
The
first one was bought for 100 million cedis Mr. Albert Botchwey while Madam
Adole Allotey, queenmother of Agbogbloshie Market Women Association, took the
second at 90 million cedis.
Botchwey,
the party's parliamentary candidate for Ablekuma North had inscribed on his
copy, "Love of God through fellow man", with Allotey's autographed as
"Wisdom of 31st December."
Another
businessman, Mr. Eric Odai, bought the third copy that had "God's
guidance" as its endorsement, at 100 million cedis.
GRi…/
The
Independent
'Money
swine' at NDC manifesto extravaganza
The
Independent says the National Democratic Congress (NDC) made history on Tuesday
when it lived up to the ostentatious meaning of the adage "Money
Swine" by auctioning the first nine copies of its manifesto for a whopping
915 million cedis, with one of them going for 160 million cedis.
Top
hierarchy of the party, including President Rawlings, Vice President Prof. John
Evans Atta Mills as well as Ministers of State, witnessed the 'obscene display
of wealth by the nouveaux riches of Ghana."
The
paper says there have been questions whether this was the same revolutionary
Rawlings who in 1982 set up a Citizens Vetting Committee to look into so-called
richmen's assets.
A
University of Ghana lecturer wondered how Rawlings could have sat through such
large donations when at the university's last year congregation, "he
lambasted openly one Francis Doe of Schweppes for making a 250 million cedis
donation to the school."
The
lecturer says President Rawlings should be questioning how the 160 million-cedi
buyer and the others made their money.
"President
Rawlings was quite critical of the People's National Party and used these
grounds of obscene wealth among others to justify his coup d'etat of 1981.
"Today
almost 20 years later, he is very comfortable to preside over a party
displaying the worst form of the crimes he saw in the PNP and other political
parties."
GRi…/
The
Accra Mail
Reform
or NPP ? Kofi Wayo to decide
The
Accra Mail reports that "Nima Boy", Kofi Wayo is back in the country
to pursue his intention of going into parliament, very likely, on the New
Patriotic Party (NPP) or the National Reform Party (NRP's) ticket.
The
Mail says Mr. Wayo in an interview seemed to be leaning more to the NPP but
said: "I have not declared for any party yet but I will not declare for
the NDC".
Mr.
Wayo is reported to have set his eyes on the Ayawaso East Constituency, one of
the hottest constituencies in the nation's capital that has been held by the
NDC for the two previous elections.
The
paper writes that whether Mr. Wayo joins the NP, NRP, or goes independent,
there will never be a dull moment in parliament once he gets a seat there.
GRi…/
The
Crusading Guide
JJ
ordered removal of party banners
The
Crusading Guide states in its banner story that unimpeachable diplomatic
sources have indicated that the recent order for the removal of political
parties' banners, flags, posters and other paraphernalia was given by President
Rawlings.
The
paper says diplomats were surprised when President Rawlings used the welcoming
occasion for Mr. Kofi Annan, UN Secretary-General, at the Kotoka International
Airport (KIA) to order Interior Minister, Mr. Okaija Adamafio for the removals
or risk losing his job.
The
IGP, Mr. Peter Nanfuri was also publicly served with the Presidential order to ensure
the execution of the task.
The
IGP quickly complied with the order and signed an official release on Sunday,
July 30, 2000, to that effect, which was made public on the following day.
GRi…/
Debate
over NIB's 1st half-year results
The
High Street Journal (HSJ) reports that the strong performance posted by the
National Investment Bank for the first six months of 2000 has come under attack
by financial analysts who are arguing that the figures gleefully released do
not represent a true picture of its actual performance.
HSJ
reports that NIB, about two weeks ago released an unedited half year report
ending June 30, that showed a phenomenal 2,367% increase in pre-tax profits, to
27,280 billion cedis, up from 1.126 billion for the corresponding period 1999.
The
after the tax profits rose to 27.072 billion cedis, up 3,939 % on 1999's
670.239 million cedis.
While
analysts agree with the figures, they claim the bank's management
misrepresented the reasons for the astronomical rise in profits.
NIB's
management, said the increase was due to 'tremendous cost savings in
operations, especially in computerisation', 'rainmaking' and quality and
proactive banking services to our valued customers."
The
paper disputes this claim and says while the efforts did help raise NIB's
performance, most of the increased profitability came from currency translation
gains, especially the sharp fall of the cedi against the dollar, which the
report curiously does not mention.
GRi…/