Police invite Doscar Group Chairman for allegedly threatening Receiver of UniBank

A Special Investigation Team set up to probe circumstances that led to the collapse of some banks in the country has invited Chairman of Doscar Group, Oscar Yaw Doe, for questioning.

According to a letter sighted by Citi News, which was dated August 23, 2019, Mr. Doe has been invited for allegedly threatening the Receiver, Nii Amanor Dodoo over his GHc101,960.14 debt to uniBank, one of the collapsed banks.

According to the letter, “the Minister of Justice and Attorney General on the instructions of the President has set up a Special Investigation Team (SIT) to investigate the circumstances leading to the collapse of some indigenous banks including uniBank.”

Oscar Yaw Doe is to report to the team on Wednesday, August 28 at 2 pm.

“The records in the books of the defunct UniBank show that you owe the bank to the sum of GHc101,960.14. Nii Amanor Dodoo acting in his capacity as the Receiver wrote to you to demand that you settle the outstanding balances. You responded by issuing a series of threats to his life in email correspondence from 2nd August, 2019 to 15th August 2019,” the letter signed by the leader of the SIT team, DCOP Edward Tabiri, stated.

As part of the Bank of Ghana’s clean-up of the financial space, it revoked the licenses of nine universal banks, including uniBank.

The banks showcased poor corporate governance and mismanagement of depositors’ funds.

The board of uniBank was found to have been granting loans to parties related to the company under circumstances that hurt the financial base of the company.

The bank procured and paid approximately GHS57.6 million to related entities for goods and services from without an objective assessment for value for money despite a BoG directive to cease giving loans in October 2017.

The bank was also found to be overstaffed as compared to others in the banking sector, causing a drain on the financials of the company

The rot in the banking space is believed to have contributed to the eventual collapse of 347 microfinance companies, 39 microcredit companies, 15 savings and loans companies, eight finance house companies, and two non-bank financial institutions.

The 11-member Special Investigation Team was appointed by the Attorney-General and Minister for Justice in consultation with the Minister for the Interior, Minister for National Security and the Inspector-General of Police.

The team comprises personnel from the Ghana Police Service, the Economic and Organized Crime Office, the Financial Intelligence Centre, the Office of the Attorney-General, the Banking Industry, and the Chartered Institute of Accountants. It is headed by a Deputy Commissioner of Police.

Below is a letter to Oscar Yaw Doe;