The Aboabo branch of Sekyedumase Community Bank PLC has been demolished by the Asokore Mampong Municipal Assembly as part of plans to redevelop the area into a 24-hour economy market.
The demolition has, however, sparked a legal dispute, with the bank accusing the Assembly and the project contractor of proceeding with the exercise despite an alleged pending court injunction. Speaking after the demolition, CEO of Sekyedumase Community Bank PLC, Afriyie Michael Kwabena, said the bank’s relocation process had not been completed before the branch was pulled down.
He said management is currently assessing the financial and legal implications of the demolition. According to him, the bank is operating from a makeshift structure while regulatory authorities assess a new facility secured by management.
Counsel for the bank, Dr Dickson Osei Assibey, described the Assembly’s action as unfair and said the bank will await the court’s determination when the case resumes in October.
The Asokore Mampong Municipal Assembly, however, maintains that it engaged the bank throughout the redevelopment process and issued notices requiring the financial institution to vacate the site.
The Assembly says it will issue a detailed response to the matter and address the media at an appropriate date.
Story by Freedom Etsey Lavoe
