4 Years After Servicing Loan, Valuation Report Still Missing @ Ecobank

SOURCE: NEW CRUSADING GUIDE

It is the dream of almost every property owner who saves with any banking institution to use documentations on the property to secure a loan facility to undertake earth shattering projects but opportunity seems to have left a sour taste in the mouths of owners of Morning Star Hotel at Tarkwa, whose land valuation report cannot be traced after using it to secure a loan facility at Ecobank, a reputable banking entity.

What seems to be more worrisome for the Hotel owners, Mr. & Mrs. Kingsley Essel is that, close to four years after servicing the loan facility fully, the VALUATION REPORT on their property which qualified the couple to access the loan cannot be traced by the bank after persistent demands.

When The New Crusading GUIDE contacted the Legal Department of the Head office of Ecobank, about three weeks ago on the issue, an official of the department who wanted to remain anonymous, confirmed the impasse between the bank and the hotel owners but was quick to debunk assertions that the bank had misplaced the Valuation Report on Morning Star Hotel.

He disclosed that three documents: an INDENTURE, a MORTGAGE PAPER from the Lands Commission and the VALUATION REPORT had been deposited at the Tarkwa Branch of the Bank for collection by Morning Star Hotel but they had refused collection.

He stated that with the exception of the valuation report which was returned photocopied, the other two were originals.

“THE TWO DOCUMENTS WHICH ARE DUE HIM (MR. ESSEL) HAVE BEEN GIVEN BUT WE HAVE BEEN MAGNANIMOUS ENOUGH TO GIVE HIM A COPY OF THE VALUATION REPORT. THEY ARE AT THE BRANCH OFFICE SO IF HE GOES THERE TODAY, HE CAN GET THEM”, he stated.

Ironically, the official disclosed that an indemnity letter was given to the hotel owners to indemnify them against any unforeseen cost.

However, Mr. Kingsley Essel, in an interview with The New Crusading GUIDE, denied ever being told of the availability OF ALL THE THREE DOCUMENTS AT THE TARKWA BRANCH OF ECOBANK FOR HIS COLLECTION.

“It is a lie, they have not told me anything since my lawyer wrote to them. The only document which I have refused to collect is the indenture. They still have all my land documents”, he stated.

He explained that about three years ago, he was asked by the bank to go for his documents but upon arrival he was given a covering note to sign. However, a closer scrutiny revealed that he was to receive only one document i.e., indenture, and so he refused.

“I SENT THREE DOCUMENTS TO THE BANK BEFORE THEY GAVE ME THE LOAN SO AFTER FULLY SERVICING MY DEBT, WHY IS ECOBANK REFUSING TO GIVE BACK TO ME ALL MY THREE DOCUMENTS”, a furious Mr. Essel queried.

Based on the earlier interview with the official at the Legal Department of Ecobank who insisted that all three documents were available at their Tarkwa branch for the collection of the hotel owners, this reporter travelled to Tarkwa in the Western Region to verify at the Ecobank branch.

IT WAS GATHERED AT THE TARKWA BRANCH OF ECOBANK THAT WHAT WAS AVAILABLE FOR THE COLLECTION OF THE OWNERS OF MORNING STAR HOTEL WAS THE SAME DOCUMENT SENT THERE ABOUT THREE YEARS AGO WHICH THEY (HOTEL OWNERS) HAD REFUSED TO COLLECT ON THE BASIS THAT THEIR DOCUMENTS WERE NOT IN FULL.

Kindly stay tuned as we bring you various responses from Ekow Baidoo, former employee of Ecobank who was allegedly dismissed in the matter of the missing document, Mr. Sampana, the then Police Commander, Tarkwa and Mr. Charles Domanba, the then Crime Officer of Tarkwa Police.