Court orders arrest of ex-NIB MD - Updated

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 Thursday, according to Daily Graphic's court correspondent Mabel Aku Baneseh, follows Mr. Gyimah’s absence in court where he is facing charges of conspiracy to defraud NIB, attempting to defraud NIB and forgery.

He is standing trial with the Managing Director of Elland International (Ghana) Limited, Arvind Bhatnagar.

Arvind Bhatnagar is being tried in absentia.

Gyimah who is on a GH¢500,000 bail bond has pleaded not guilty to the charges.

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.

Story: Graphic.com.gh