GCB Bank denies $ 52.5bn transfer allegations

The Ghana Commercial Bank (GCB) yesterday denied allegations that it has authorised the transfers of $ 52.5 billion from the GCB to unknown sources.

“The GCB Bank Limited (GCB) has today December 1, 2029 noted with grave concern the publication of a doctored letter dated 5th October, 2020 purportedly emanating from the Ghana Audit Service (GAS) in respect of funds transferred.”

The GCB Bank Limited  in a statement issued in Accra yesterday by its Corporate Affairs Department stated that the said letter circulating mostly on social media with the caption, “ Audit Service reports of GH¢52.5 billion transferred from the GCB Bank to unknown sources” was untrue.

The allegation that a total amount of GH¢52.5 billion was transferred from the GCB’s accounts to unidentified sources, it noted, was false and mischievously designed to discredit the bank.

“We hereby deny the allegations that the GCB has effected unauthorised transfers, we further assure all our stakeholders that GCB, as a bank of international repute, conducts its activities in line with sound banking principles,”it stated.

The bank further added that it would not engage in any activity that will erode the trust and confidence the public has reposed in us over the years, it concluded.


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