EMB Ghana Ltd praised for returning over GHS 252,000 mistakenly transferred into its account

A Ghanaian-owned firm, EMB Ghana Ltd, has drawn public admiration after voluntarily returning GHS 252,424.25 that was accidentally credited to its GCB Bank account in January 2024.

The company’s Chief Executive Officer, David Kojo Flika, reported the erroneous transfer immediately and formally wrote to GCB Bank’s High Street Branch on January 15, 2024, requesting that the money be sent back to its rightful source. The firm had received a notification on January 12 confirming a SWIFT transfer it had not been expecting.

In his letter, Mr Flika made it clear that EMB Ghana Ltd was not entitled to the funds and insisted that the reversal be carried out without delay. He noted that the company’s action reflected its commitment to ethical business conduct and transparency.

He attributed this integrity-driven decision to the moral principles instilled in him through The Apostolic Church, Ghana, his training at Presbyterian University, Ghana, and his family values. Mr Flika encouraged the wider corporate community, students, contractors, consultants, and suppliers to uphold honesty, accountability, and discipline in their daily work.

Company background

EMB Ghana Ltd operates as a fully Ghanaian-owned entity offering project contracting, compliance consulting, and goods supply services.

The letter notifying the bank of the error was also copied to the Ministry of Works and Housing, as well as the Controller and Accountant-General’s Department. Up to this point, neither GCB Bank nor the Ministry has publicly responded to the matter.

Mistaken SWIFT transactions, though uncommon, require swift coordination between banks and clients, and EMB Ghana Ltd’s swift action has been widely acknowledged as an example of responsible corporate behaviour.