Fidelity Bank Ghana has finally come clean regarding its dealings with the Electricity Company of Ghana (ECG).
According to a publication by 14 Civil Society Organizations, they alleged that the bank was engaged in procurement breaches.
The bank has since denied claims of engaging in procurement breaches in its transactions with the Electricity Company of Ghana (ECG).
In a statement by the bank, Fidelity Bank denied being served with any court summons contrary to reports by the CSOs and rejected claims that the bank serves as the sole keeper of funds.
In the bank’s official statement, they addressed concerns of conflicts of interest asserting that they have been working with ECG for over 12 years, which preexists the selection of any ECG executive to ECG’s board.
According to Fidelity, it assisted the purchase of USD10.75 million for ECG, which was significantly less than the assumed USD40 million per month.
Fidelity Bank has, meanwhile, reaffirmed the bank’s commitment to a legal agreement, and transparency and promised to respond to false claims against the bank.
