Bench warrant for ex-NIB Boss

By Stephen Kwabena Effah

June 21, 2013

A bench warrant has been issued for the arrest of former Managing Director of National Investment Bank, Daniel Charles Gyimah, who is standing trial for fraud in the importation of Indian rice into the country by the government in 2008.

It followed Mr. Gyimah’s failure to appear before the Accra Fast Track High Court yesterday for the continuation of the case being heard by Justice Charles Quist.

Mr. Gyimah, the Managing Director of Eland International Ghana Limited, Arvind Kumar Bhartnagor who is on the run, have jointly been charged with conspiracy to defraud, attempt to defraud international Banking Community and three counts of forgery of documents.

He is currently on a GH 500, 000-bail with two sureties to be justified.

According to state prosecutors, Mr. Gyimah allegedly issued 30 promissory notes worth 60 million dollars in the name of NIB to Eland International Ghana Limited for its transaction with Iroko Security Company Limited in the rice deal.

While this case is ongoing, Mr.Gyimah and former Foreign Affairs Minister, Akwasi Osei-Adjei were being tried in another High Court on aspect of the case.

In April 2012, Mr. Gyimah and former Foreign Affairs Minister, Akwasi Osei-Adjei, who were tried by the Accra Financial Court in a related case, were acquitted and discharged by the Court of Appeal on two counts of conspiracy and contravening the Public Procurement Act in the importation of rice from India.

In a unanimous decision, the court freed Mr. Osei-Adjei and Mr. Gyimah on grounds that the prosecution relied on a repealed law to justify why the two former officials must be called upon to open their defence at the High Court.

It said the prosecution’s argument were very “sentimental” and further stated that the prosecution failed to establish the essential ingredients set out by Section 14 of the Public Procurement Act to warrant the prosecution of the discharged officials.

On February 25, 2011, the Financial High Court acquitted and discharged Mr Osei-Adjei and Mr. Gyimah on six counts of conspiracy, wilfully causing financial loss to the state, use of public office for profit and stealing

The court, presided over by Mr Justice Bright Mensah, however, ordered the two to open their defence on charges of conspiracy and contravening the Public Procurement Act in the importation of rice from India. Dissatisfied with the High Court’s decision, counsel for the two appealed and stated that the prosecution relied mostly on a repealed law to oppose his client’s appeal.

However, the Court  of Appeal constituted by Ms. Mariama Owusu, with Mr. Justice Yaw Appau and Mr. Justice Senyo Dzamefe held that the prosecution had woefully failed to prove a prima facie case because none of the prosecution witnesses led evidence to prove that the transaction was financed by public funds.