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High Court judge sentences bank staff to 25 years for his role in ¢600k robbery
A Cape Coast High Court presided over by Justice Kwasi Boakye singled out a bank staff in a robbery of ¢600,000 and gave him a hefty sentence of 25 years.
Michael Fosu, alias ‘Bursar’ who was a cleaner working at the Ghana Commercial Bank branch at Asikuma in the Central Region, was among four persons who conspired to rob a bank customer of ¢600,000.
In sentencing the four persons, Justice Kwasi Boakye indicated that even though Michael’s share of the booty was the least – ¢10,000 – he decided to single him out and deal with him severely.
The judge remarked, “I take good note of the role he played in the commissioning of the robbery. For purposes of emphasis, the undisputed evidence is that Michael called one of the robbers on the phone to alert him that the customer had withdrawn the money and was leaving the bank premises.”
Based on the call placed by the bank staff to his counterparts, they succeeded in the operation.
The judge described Michael’s behaviour as a danger and a threat to society.
Justice Kwasi Boakye sent a strong warning to staff of banks with such intentions to abandon them now as the courts would deal with them ruthlessly.
He further charged the security apparatus in crime-fighting in the country to direct their attention to suspicious characters within the banking sector in the wake of the recent surge in the number of robbery attacks on the banking sector.
Before sentencing them, Justice Kwasi Boakye allowed the robbers to say something.
The first robber pleaded: “If I am found guilty, I wish to plead for leniency. I am a family man with three children. I am responsible for them. I have a wife. I promise the Court that it will not occur again.”
The second robber followed: “I have accepted my guilt in this trial. I am grateful for the Court’s patience for me in this trial. I am a family man with children and a wife. I plead that I am forgiven.”
For the third stated: “Please, I have sinned. I would not do that again. I promise that it will not reoccur. I have a sick mother back home. I plead accordingly.”
Justice Kwasi Boakye sentenced three of the robbers on conspiracy to commit the crime of robbery contrary to sections 23 [1] and 149 [1] of the Criminal and Other Offences Act, 1960 [Act 29] to 20 years imprisonment in hard labour while the bank staff was sentenced to 25 years in hard labour.
Background
The facts accompanying the charges are that Patrick Gyamerah, the manager of Nyankopa Cocoa Buying Ltd, is the complainant. The accused persons are Ibrahim Abubakar, a scrap dealer; Muniru Seidu, labourer; Sadick Abubakar, farmer and Michael Fosu, cleaner at the Breman Asikuma Commercial Bank.
On October 28, 2020, the complainant went to the Ghana Commercial Bank [GCB] at Breman Asikuma to withdraw ¢600,000 for his employer, Nyankopa Cocoa Buying Ltd.
The money was put in a sack and loaded into his vehicle with the help of Obed Mintah, his Technical Officer and Eric Amissah, his Accountant. They set off with the money in the boot of his car.
The Accountant followed up on a motorcycle. A few metres to their Depot, they were stopped by two of the robbers who were wielding guns. They asked the complainant to turn off the car engine and get down from the car. He obliged.
They asked him to open the car boot and marched him with Eric Amissah and Obed Mintah into the nearby bush, where they tied them with sellotape. The robbers took all the money from the car boot, used Eric Amissah’s motorcycle and fled from the scene.
The complainant and his colleagues managed to free themselves later and got to their workplace, where they informed their officers of the incident.
Finally, they reported the matter to the police. The police immediately embarked on sustained searches for the robbers. On October 30, 2020, the police stopped a taxi during a snap-check within Breman Asikuma. A search in the taxi cab led to the discovery of sacks of money packed under the car seats.
All the three persons on board were arrested. One robber onboard the taxi told police that it was part of the money they robbed from the complainant.
Abubakar Ibrahim had ¢208,120.00 in a sack. He led police to Muniru Seidu’s house at Nsuokor village. A search on Muniru yielded ¢54,800.
Abubakar Ibrahim then led police again to Michael Fosu, the bank cleaner’s house. A search in his room yielded ¢8,000.
Finally, Mr Ibrahim led police to Ring Road Circle, popularly called Circle in Accra, where Muniru Seidu was arrested.
Mr Muniru took the police into the bush around Abebrese village near Assikuma, where he had kept his portion of ¢200,000.
The Police investigations revealed that the accused persons and one Tommy planned to rob the complainant. On October 26, 2020, Michael Fosu, a cleaner at GCB, called Abubakar Seidu and told him that the complainant had come for money at GCB.
Abubakar Seidu, who was standing at a vantage point somewhere at Breman Assikuma town monitoring the complainant’s movements, relayed this information to Tommy and the rest of the accused persons.
Abubakar Ibrahim and Muniru Seidu lay in wait in the bush and attacked the complainant when he got there.
After that, they met Tommy and shared the money. Then, Tommy gave Abubakar Seidu his share. In turn, Seidu gave the bank cleaner ¢10,000.
Abubakar Ibrahim and Muniru Seidu confessed to conspiring to rob the complainant during investigations.
They explained that the complainant contracted them to take the money from him as he was in debt.
Michael Fosu, the bank cleaner, stated that Abubakar Seidu told him about the plan to rob the complainant, but he refused to take part. However, after the robbery, Seidu gave him ¢10,000 for not revealing their plan to anyone.
Source: www.myjoyonline.com
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) successfully held its sixth (6th) Exchange Programme, hosted by the Ghana Export – Import Bank (GEXIM) Bank in Accra from March 22 to 23 March.
The event brought together member institutions, partner organisations and Ghanaian public entities to advance dialogue on South-South trade, investment and development finance, while also creating opportunities for knowledge-sharing and institutional cooperation.
Organised as a capacity-building and networking platform, the 2026 edition of the G-NEXID Exchange focused on GEXIM’s experience in developing innovative solutions to promote intra-African and extra-African trade.
It also highlighted trade and investment opportunities in Ghana, particularly in the context of the African Continental Free Trade Area (AfCFTA) and broader national development initiatives.
The Exchange Programme forms part of G-NEXID’s mandate to foster cooperation among export-import banks and development finance institutions in support of South-South trade and investment.
This 6th edition follows earlier successful programmes hosted by India Exim Bank (2016), BNDES (2017), Indonesia Eximbank (2018), Afreximbank (2019) and Saudi EXIM Bank (2025).
On the first day, participants were presented with G-NEXID institutional information and received an update on the Network’s 2026 work programme.
There were a series of substantive presentations, including an overview of the Ghanaian economy by the Ministry of Finance, with particular attention to debt-related challenges; a presentation by the Ghana Investment Promotion Centre (GIPC), on investment opportunities in the country; and institutional presentations by GEXIM and Development Bank Ghana (DBG) on their respective mandates, initiatives, products and services.
Discussions during the sessions underscored strong interest in sector-focused webinars and business dialogues, particularly in agribusiness value chains such as poultry and rice.
Participants also emphasized the importance of continued information exchange and the sharing of best practices, especially in the area of guarantees.
The second day opened with a presentation on the 24-Hour Economy and Accelerated Export Development Programme, a national economic transformation strategy launched by President John Dramani Mahama in July 2025.
The initiative aims to enhance economic productivity through continuous industrial activity, accelerated export development and strategic import substitution.
As the programme is expected to mobilise both private and development capital, it presents concrete opportunities for G-NEXID members in areas such as co-financing, guarantees, trade finance and technical cooperation.
The programme also featured institutional presentations by guest organisations, namely the African Guarantee and Economic Cooperation Fund (FAGACE) and the West African Development Bank (BOAD), which shared their mandates, initiatives, products and services.
Following these exchanges, the G-NEXID Secretariat held bilateral discussions with both institutions as part of the Network’s ongoing membership drive.
Participants further benefited from a presentation by the Eastern and Southern African Trade and Development Bank (TDB), as well as a showcase of GEXIM’s key pipeline projects.
On the margins of the Exchange Programme, G-NEXID members also held their 20th Annual General Assembly Meeting to review progress and discuss strategic priorities.
Following the event, participants joined the GEXIM@10 International Conference, held from March 24-25, 2026 under the theme, “A Decade of Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier.”
The conference provided an important platform for exploring how Ghana can strengthen its transition from a primary commodity exporter to a more competitive player in value-added trade and industrial development.
Source – G-NEXID
President John Dramani Mahama on Tuesday, March 31, 2026, signed five bills including three amendment bills passed by Parliament into law.
They are: Security and Intelligence Agencies Bill, 2025; University of Engineering and Agricultural Sciences Bill, 2025; Ghana Deposit Protection (Amendment) Bill, 2025; Growth and Sustainability Levy (Amendment) Bill, 2026; and Education Regulatory Bodies (Amendment) Bill, 2026.
In a brief remark after assenting to the bills, President Mahama explained that the Security and Intelligence Agencies Act, 2026, scraps the Office of Minister of National Security and frees the President’s to appoint any Minister to supervise the security agencies.
He said it also reverses the name of the office of National Intelligence Bureau (NIB), to the original name, Bureau of National Intelligence, (BNI).
This the President said, addresses the confusion between that security agency and a well-known Ghanaian financial institution, the National Investment Bank.
President Mahama also noted that the University of Engineering and Agricultural Sciences Act, 2026, establishes another University in the Eastern Region, at Bonsu, with three campuses – the main campus at Bonsu in the Eastern Region, with the second campus to be cited at Ohawu in the Oti Region.
The third, the Presdient assed will be located at Acherensua in the Ahafo Region.
Touching on the Amendment to the Growth and Sustainability Levy Act, the President said, “As you’re aware, the act was amended to increase it from 1% to 3%, and so this act reduces it again. That is the levy on mining companies. It reduces it again to 1%, because of the introduction of the sliding scale of royalties.”
He also spoke to the passage of the Government Education Regulatory Bodies Amendment Act, emphasising that amends Act 1023 to grant greater flexibility to private tertiary institutions and the option to Charter.
The Ghana Deposit Protection Amendment Act, the President concluded, is an amendment to an original act that was supposed to guarantee deposits held in commercial banks or financial institutions.
It basically expands protection to include mobile money wallets and other digital platforms, ensuring a wider scope of digital financial assets are secured.
The signing ceremony, was witnessed by the Clerk of Parliament, Mr. Ebenezer Ahumah Djietror, Secretary to the President, Dr Callistus Mahama, the Minister of Justice and Attorney General, Dr Dominic Akrutinga Ayine, Chief of Staff, Julius Debrah, Joyce Bawa Mogtari, a Senior Presidential Advisor and a Special Aide to the President, Finance Minister, Dr Cassiel Ato Baah Forson, and the Vice President, Professor Jane Naana Opoku Agyemang.
