GRi BEF News Ghana 31 - 01 - 2001
Derma (Brong Ahafo) 31 January
2001
Shareholders of Derma Area Rural
Bank in the Tano district on Saturday sacked the bank's board of directors at
an extraordinary general meeting, accusing them of breach of their code of
conduct and rules and regulations of the Bank of Ghana.
The shareholders appointed a
six-member interim management committee (IMC), which is charged to organise the
14th annual general meeting, which the former board failed to do.
They also pledged their confidence
in Mr James Opoku-Baah as manager of the bank.
Nana Kwabena Poku, a shareholder
and Mponoahene of Duayaw-Nkwanta Traditional Area, presided at the meeting
which was convened to enable the directors to explain their inability to hold
the bank's 14th annual general meeting for the 1999 financial year at the close
of 2000.
None of the board members honoured
the invitation to the meeting, even though each of them was notified.
The meeting dismissed as untrue an
announcement made on the local FM radio station by the directors that the
manager had been removed. The shareholders said they were worried that the
continued abuse of office by the directors could lead to the eventual collapse
of the bank.
"The directors are abusing
their office by indulging in all manner of financial malpractice such as taking
unauthorised loans, using relatives as front-men to take loans for themselves
and taking imprest without accounting for them."
GRi…/
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Accra (Greater Accra) 31 January 2001
The Ghana Association of Bankers, on Tuesday January 30, 2001, announced the following average inter bank exchange rates of the cedi equivalent to the dollar and derived rates for other major foreign currencies.
Currency Buying Selling
US Dollar 6,786.09 7,009.64
Pound Sterling 9,888.69 10,216.55
French Franc 948.43 978.93
Swiss Franc 4,092.32 4,225.03
Deutsche Mark 3,179.85 3,284.22
Canadian Dollar 4,520.34 4,665.30
Japanese Yen 58.19 60.08
Dutch Guilder 2,823.16 2,913.94
S/African Rand 858.47 885.72
Euro 6,222.82 6,424.29
CFA Franc 9.48 9.79
Naira 67.87 70.10
Ecowas/WAUA 8,977.94 ------------
GRi…/
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