Accra, May 8, GNA - The case involving Daniel Charles Gyimah, Managing Director of the National Investment Bank (NIB), was on Friday adjourned to June 5 on the request of the prosecution. Gyimah is facing charges of attempting to commit crime, causing financial loss to the State and forgery of documents. He has pleaded not guilty and the court has ordered him to be on his former bail, that is, GH¢500,000 with four sureties one to be justified.

When the case was called, Deputy Superintendent of Police (DSP) P.K. Frimpong told the court that they have received directives from the Attorney General and would asked for a month's adjournment. The circuit court judge, Mr. D.E.K. Daketsey obliged and adjourned the case to June 5.

The prosecution had told the court that on May 7, 2007, in an attempt to wilfully cause financial loss to the state, Gyimah unilaterally entered into an agreement with Eland International Limited Ghana in which he used the bank as a guarantee.

Based on that Gyimah issued 30 promissory notes valued at 60 million US dollars to Eland, whose secretary is his son.

The prosecution said Eland contacted Iroko Security Company Limited within the period and quickly discounted the 60 million dollars and the promissory notes for 45 million dollars.

On January 29, this year, the International Bank Section of NIB received a swift message requesting the bank to confirm payment of the promissory notes.

The prosecution said Gyimah was therefore notified of the irregularity of the message by the head of the bank's International Banking Section. Gyimah on receipt of the notice ordered the Department to confirm and it was complied with.

Meanwhile, the prosecution said, the document on the deal between NIB and Eland cannot be traced, as Gyimah claims the documents were missing from their records.

In the statement to the Police, Gyiamh admitted making the guarantee on behalf of NIB adding he made a mistake by not informing the Bank's Board of Directors. Investigations revealed that several documents including a report on goods under the control of NIB for Eland as at December 1, last year, had been detected as forged by Gyimah.