Court orders arrest of former NIB boss

The Accra Fast Track High Court has issued a bench warrant for the arrest of the former Managing Director of the National Investment Bank (NIB), Mr. Daniel Charles Gyimah.

The arrest order, according to Daily Graphic's court correspondent Mabel Aku Baneseh, follows Mr. Gyimah’s absence in court where he is facing charges of wilfully causing financial loss to the state.

Gyimah who is on a GH¢500,000 bail bond has pleaded not guilty to wilfully causing financial loss of 60 million dollars to the state.

He is alleged to have used the bank as a guarantor without the Board of Directors’ consent and issued 30 promissory notes valued at 60 million dollars in May, 2007 to a private business, Eland International (Ghana) Limited.