For a 12-day trip to South Africa for a conference, a board member of GCB Bank, Alhaji Alhassan Yakubu, was paid $33,000, the equivalent of GH₵462,000, using an exchange rate of GH₵14 to $1.
This expenditure amounts to nearly half a million cedis for the 12-day conference.
Checks indicate that this amount aligns with the standard figures paid by GCB for such travels and therefore did not breach any laws or regulations.
Alhaji Yakubu was allocated $1,000 (GH₵14,000) per night for hotel accommodation, totaling $12,000 (GH₵168,000) for the duration of the stay.
For per diem, he was paid $1,500 (GH₵21,000) per day, translating to $18,000 (GH₵252,000) for the 12 days.
Typically, covered business expenses include accommodation, food, and incidental expenses such as fees and tips for services. Despite accommodation being included in the definition of per diem by Investopedia, the GCB board member received an additional $12,000 (GH₵168,000) specifically for accommodation. Furthermore, he was allocated $3,000 (GH₵42,000) for two travel days and what that means is yet to be explained.
The memo authorizing this payment, dated May 23, 2024, indicates that Alhaji Yakubu attended a conference titled “The Complete Board Directors Programme” from May 27 to June 7, 2024.
This conference was organized by Inter Africa Consulting Group in Johannesburg, South Africa.
The memo, originating from the Human Resource Department, was signed by Nana Kwabena Yeboah, Head of HR, and Alexander Yeboah, Manager of Compensation and Rewards, and was copied to the Managing Director and Deputy Managing Director.
