The appointments of eight officials of the Bank for Housing and Construction (BHC) have been terminated in connection with the A-Life financial scandal. They include: the acting Managing Director, Mr J.E. Ababio; Mr. S.W.Y. Inkoom, Executive Director of Finance and Mr A. Quartey-Papafio, Branch Manager, Harper Road, Kumasi.

A source close to the bank said the decision was taken by the Board of Directors of the bank last month. The source said the board chaired by a renowned Ghanaian engineer, Mr K. Twum-Boafo was particularly not happy with what it considered to be negligence of duty by the top management of the bank which enabled Nana Yaw Oduro, Managing Director of A-Life to withdraw from the bank, monies amounting to tens of billions of cedis.

The board is said to have appointed Mr L.A. Adjaidoo, as the new Managing Director to see to the day-to-day administration of the bank and help streamline its affairs. The source said that until his appointment, Mr Adjaidoo was the adviser to the bank from the Bank of Ghana. Sources say the dismissals have not been formally made known to the staff of the bank but the few who have had a hint of it welcomed the decision as "a necessary change". They were of the view that the efforts to streamline the affairs of the bank will help rebuild trust and confidence in it.

Some, however, regretted the dismissal of the officials, especially Mr Ababio. They described Mr Ababio, a pioneer staff member of the bank as an experienced economist and banker who worked tirelessly for the success of the bank. "His rich experience will be greatly missed by the bank', said one member of staff. When the bank's management was contacted on the issue, it confirmed the dismissals but declined to make any further comments