Okbell Majdoub, a former Head of Service Quality at the Beige Group, has informed the High Court in Accra that Beige Capital Savings and Loans (BCSL) carried out extensive branch expansion work before transitioning into The Beige Bank.

She stated that her office was responsible for setting up all branches as part of BCSL's transformation into 'The Beige Bank.'

Majdoub disclosed this information while testifying as the Fourth Defense Witness in the ongoing trial of Michael Nyinaku.

Nyinaku, the founder and former Chief Executive Officer of the now-defunct bank, stands accused of allegedly misappropriating customer funds and faces charges of stealing GH¢2.1 billion of depositors' money.

He has pleaded not guilty to 43 charges, including stealing, fraudulent breach of trust, and money laundering, and has been released on bail.

While giving her Evidence-in-Chief, led by Lawyer Thaddeus Sory before Justice Afia Serwah Asare-Botwe a Justice of the Court of Appeal sitting as an additional High Court judge—Majdoub based her testimony on her direct involvement.

"I am aware that Beige Capital Savings & Loans undertook significant branch expansion work as part of the activities marking its transition into becoming The BEIGE Bank. My department was responsible for setting up all the branches during the transition of BCSL into TBB," she stated in court.

"The branch upgrades included those that existed before BCSL obtained the universal banking license and new ones acquired during the transitional period. I can confirm that all activities undertaken by my department were funded by TBG, using funds received from the finance office of TBG or the CEO's secretariat," the Fourth Defense Witness, who described herself as an entrepreneur, said.

She also confirmed that the pay vouchers attached to her statement represent a sample of many such vouchers, evidencing payments made for activities undertaken by the department as part of the transitional projects.

"The expenditure report submitted by my department, along with its related attachments, indeed accounts for the funds received from the office to be utilized in executing the Service Quality's scope of work within the projects executed on behalf of the bank.

"I can further confirm that many of these projects were still ongoing when the bank was placed under receivership," she told the court.

Okbell Majdoub is the fourth of the 61 witnesses expected to be called by Mr. Nyinaku's defense.