12 GCB Bank Board Members grab $33,000 each

An investigation by The Herald has uncovered significant financial waste at GCB Bank PLC, revealing extravagant travel allowances of US$33,000 each to board members, totaling GH¢5,757,840.

This excludes first-class plane tickets and other training costs. Alhaji Alhassan Yakubu, a board member, received GH¢479,000 for a trip to South Africa.

The legitimacy of the training, named “The Complete Board Directors Programme,” is questioned, especially as the board will be dissolved soon. Insiders suspect these expenses benefit board members more than the bank.

An internal memo detailed Yakubu's expenses, including $12,000 for accommodation and $18,000 per diem.

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