{"id":5778,"date":"2024-05-16T09:02:53","date_gmt":"2024-05-16T09:02:53","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=5778"},"modified":"2024-05-16T09:02:55","modified_gmt":"2024-05-16T09:02:55","slug":"kma-accuses-fidelity-bank-of-violating-the-loan-agreement","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=5778","title":{"rendered":"KMA accuses Fidelity Bank of violating the loan agreement"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Finance Director for Kumasi Metropolitan Assembly (KMA), David Abbam Adjei, has accused Fidelity Bank of violating the terms of their loan agreement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This comes in the wake of controversies surrounding the disappearance of GH\u00a23.6 million from a project fund.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The GH\u20b5 5 million loan according to the Finance Director was for the continuation of the stalled Krofrom Market project initiated by the erstwhile John Agyekum Kufour\u2019s administration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr Adjei has explained that, per the terms of the agreement, the bank was to pay the loan directly into KMA\u2019s account if approved for onward disbursement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, he claims&nbsp;the former KMA boss, Osei Assibey Antwi, in a letter instructed Fidelity Bank to pay an additional GH\u20b53 million directly to the contractor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe were asking for GH\u20b55 million, you open an account, you put the money in the account, and the money is disbursed. But the money was directly disbursed to the contractors, that\u2019s not the normal thing,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Finance Director also indicated the bank account was opened without his consent nor the&nbsp; Coordinating Director, who are the signatories for financial services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf you ask whether an account was opened, it was later we started our investigation became aware that an account was opened,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Director for Kumasi Metropolitan Assembly (KMA), David Abbam Adjei, has accused Fidelity Bank of violating the terms of their loan agreement. This comes in the wake of controversies surrounding the disappearance of GH\u00a23.6 million from a project fund. The GH\u20b5 5 million loan according to the Finance Director was for the continuation of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[41],"tags":[2009,2008],"class_list":["post-5778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-news","tag-fidelity-bank","tag-kma"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5778"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5778\/revisions"}],"predecessor-version":[{"id":5780,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5778\/revisions\/5780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/5779"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}