Pastor Who Allegedly Collected Deposits Without Bank Of Ghana Authorisation Granted GH₵500K Bail
- The proprietor of Dek-Nock Investments has been arraigned today, July 26, 2024, following his July 19, 2024, arrest
- Dek-Nock was shut down by a joint team of Bank of Ghana officers and Ghana Police Service officers for taking deposits without a license
- At court, the proprietor, Enock Kugbedzi, pleaded not guilty to the charge and was granted a GH₵500K bail
The proprietor of Dek-Nock Investments has appeared before an Accra Circuit court following his arrest on July 19, 2024, for allegedly taking deposits without a Bank of Ghana license.
The accused, Enock Mawuli Sadah Kugbedzi, also the head pastor of Kingdom Chapel International at Nungua-Baude, pleaded not guilty to the charge of operating a deposit-taking institution without a license.
Source: UGC
The Accra Circuit court was presided over by Justice Isaac Addo.
It was discovered in court that upon his arrest and shutdown of his offices, the police retrieved a cash sum of GH₵265,0479 and GH₵793,122.60 from his Ashaiman and Nungua offices.
His arrest followed a complaint made by the Bank of Ghana to the Ghana Police Service concerning the alleged illegal activity happening at his premises.
After initial investigations into the activities of Dek-Nock, the police and officers from the Bank of Ghana stormed the company’s premises and shut them down, arresting Kugbedzi in the process.
At his arrest, the police team retrieved several documents including transaction books and sheets and customers’ passbooks. It also included an HP Laptop, and cash in sum of GH₵265,049 from the office in Ashaiman.
At the office in Nungua where he was nabbed, many clients’ passbooks, loan forms, transactions record sheets and books, a server, hard drive and six computer system units were seized.
A cash amount of GH₵793,122.60 was also seized.
Initially, the police prosecutor, ASP Seth Frimpong, had pleaded the court to not release Kubgedzi on bail due to investigations still ongoing.
But the lawyers of Kugbedzi, led by Paul Asibi Abarigah, stated that Kugbedzi was not a flight risk and would attend every court hearing.
Justice Isaac Addo proceeded to grant Kugbedzi a GH₵500,000 bail with two sureties.
He is also to report every Friday to the case investigator until further notice.
BoG urges calm among Dek-Nock clients
Meanwhile, the Bank of Ghana has urged Dek-Nock Investments customers to remain calm as the police investigate the matter.
The apex bank noted that it would inform customers of further actions at the appropriate time.
The central bank assured the general public that it will continue to crack down on illegal deposit-taking operations in collaboration with the respective law enforcement agencies. It added that offenders would be dealt with accordingly.
“The Bank assures the general public of its commitment to promoting the integrity and stability of the financial system,” it concluded.
BoG blacklists eight MTOs
YEN.com.gh reported that the Bank of Ghana has also released a list of eight Money Transfer Organisations (MTOs) Ghanaians should avoid.
In a statement, the BoG said these platforms operating within the remittance and Ghana forex market were not approved.
The organisations listed are LEMFI, WISE, TRANSFER GO, XOOM-A PAYPAL SERVICE, SENDWALU, BOSS REVOLUTION, BTC-AZA FINANCE, and SUPERSONIC.
The BoG also warned banks against dealing with any of the blacklisted institutions.
Proofread by Berlinda Entsie, journalist and copy editor at YEN.com.gh
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Source: YEN.com.gh
