MEMO

FROM: Head-Internal Audit

TO : Chairman Audit Committee

Cc : CEO
Executive Director
G.M - Operations
Head-Credits Division
Head- Finance Division

DATE: 27/06/2014

AUDIT REVIEW OF ACTIVE LOAN CUSTOMERS’ FILES -ACCRA

Audit reviews were carried out on the active loan customers’ files of the Head Office as at June 26, 2014.

We await management response(s) on areas commented.

Find attached the report.

Thank you.

Signed
Daniel F. Amoako

1 Internal Audit Report-NDK-Accra. June, 2014

 INTRODUCTION
Internal Audit has undertaken a comprehensive review of all the active customer files of the Head Office to
ensure that proper documentation has been completed and NDK’s interest is adequately protected in case
of default by the customer.

The review of each file among others considered the following issues:

 Whether or not there’s a valid customer application letter;

 Whether or not there’s a loan approval letter duly accepted by the customer;

 Whether or not there’s a loan agreement duly executed between the customer and NDK;

 Whether or not NDK has the proper residential address or physical location of the customer;

 Whether or not the mortgage has been plotted and duly registered;

 Whether or not consent to mortgage has been given where required;

 Whether or not there’s a directors’ personal guarantee;

 Whether or not the value of the collateral is commensurate with the customer’s present indebtedness
or whether there’s the need for additional collateral ;

 Whether or not there are effective controls over the movement of clients’ files located at the Credit
Secretariat, Credits Division and Loan Recovery Department.

 SUMMARY

Although the observations on the files are on a case by case basis, and the observed defects were peculiar
to the individual client’s files, certain observations run through a number of the files. The general overview
will take a look at a number of these observations or defects, their effects and possible ways to remediate
them. After the general overview, each individual file will be considered and the defects on same outlined.
Where a particular defect is not in the general overview, this will also be explained and where possible
remedies suggested.

 LOAN APPLICATION LETTER, APPROVAL LETTER AND LOAN AGREEMENT

2 Internal Audit Report-NDK-Accra. June, 2014

Review of clients’ loan files indicated that there were duly completed and signed loan application letters,
approval letters and loan agreement documentations.

 NO BORROWER’S, WITNESS’ PHOTO IDENTIFICATION

The Anti-Money Laundering Act, 2008 (Act 749) enjoins Finance Houses to undertake detailed Customer
Due Diligence procedures. One such procedure is to obtain and safely file customers’ clear photographic
identification. Without a clear customers’ photographic identification NDK may find it difficult proving the
actual identity of the customers and their witnesses in court should legal processes commence, following
default. Proving the identity of customers may also be difficult where they relocate from their known offices
or residences without giving notice to NDK. In this case such customers should be required to submit they
and their witness’ photo identification.

 MORTGAGE –PLOTTING, CONSENT, DIRECTION TO MORTGAGED PROPERTY

Some clients’ properties used as security have not been plotted, consent to mortgage not received and
direction to the mortgaged property not on file. Where properties have not been plotted NDK’s interest is
not fully covered and where consent has not been received no plotting can even be done in the first place.
In this case, Loan Recovery must take active steps to ensure that consent is received and the property
plotted as soon as possible. Also, Credits Division should ensure direction to mortgaged properties are
drawn up and filed on clients’ files as required.

 NO VALUATION REPORT ON PROPERTIES

Where there is no professional valuation of the mortgaged property, it is difficult to determine the adequacy of the
collateral for the amount owed by the customer. However, where there is a valuation report it is easy to determine
whether or not additional collateral is required where the principal together with accrued interest is in excess of the
value of the property. Where there is no valuation report on the property the customer should be directed to bring
same.

 VEHICLES—NO VALUATION REPORT, COMPREHENSIVE INSURANCE, CHANGE OF OWNERSHIP NOT

EFFECTED

Valuation of vehicles: same as comments on valuation of properties. In some files there is no comprehensive motor
insurance in respect of vehicles used as collateral for the facilities granted. In other cases, there are comprehensive
insurance but has expired, making it ineffective. Where there is no comprehensive motor insurance the vehicle may
have been transferred but NDK will not benefit as loss payee should there be a major breakdown in the vehicle.

3 Internal Audit Report-NDK-Accra. June, 2014

Also, there are some customers whose vehicles used as security have not been transferred to NDK to ensure the
latter’s interest in the vehicles are fully covered. As a remedy to these defects, such customers should be required to
submit comprehensive motor insurance in joint names of NDK and the customers, with NDK noted as loss payee.
Where there is a comprehensive insurance but has expired, client should be directed to submit a renewed one. Also,
steps should be taken to ensure the vehicles are transferred to NDK.

 DIRECTION TO CLIENT’S RESIDENCE/OFFICE

The review of clients’ files also indicated that there was no direction to some clients’ residence or offices on
file. In the event of default and where a writ has to be issued, the writ must be endorsed with the residential
address of the customer. There is therefore the need to have on file the residential address of all customers
for the purposes of serving notices and other court processes if the need arise.

 MOVEMENT OF CREDIT DOCUMENTATION

Audit test conducted in this area aimed to assess the adequacy and effectiveness of the operation of controls over
the movement of credit documents from the Credit Secretariat and the Loans Recovery Department to other
departments for use. While the test revealed that the controls were adequate as both Credit Secretariat and the
Loans Recovery Department had Documents Movement Log Books at their disposal, the operation of the controls
was observed to be ineffective at the Credit Secretariat. This accounts for the difficulty in locating a client’s full credit
documents at a point in time.

 INDIVIDUAL FILES

i. MORTGAGES-PLOTING, CONSENT RECEIVED , DIRECTION TO PROPERTY

S/N DESRIPTION AND LOCATION PLOTING CONSENT DIRECTION TO

CUSTOMER NAME OF PROPERTY STATUS RECEIVED PROPERTY
1 Landed property situate at Not No On file
Ablekuma in the name of Mr. plotted
Kwakye Obeng stamped as
LVB1815/06
3 OAKS COMPANY LTD.
2 Landed property situate at Not No On file
Dzorwulu in the name of plotted
Madam Edna Peggy Quansah
NADEEN BEAUTY & and Registered as Land
SUPPLY LTD Registry No. 15/1998
3 Landed property situate at Not No On file
LODHILL CONST. CO. Mataheko Afienya plotted
LTD.

4 Internal Audit Report-NDK-Accra. June, 2014

4 Landed property in the name Not No On file
of Raymond Ackah situate at plotted
Regimanuel Gray Estates and
EAGLE EYE RESOURCES registered as AR/TBC/372B/94
LTD
5 Landed property situate at Not No None on file
Baatsona in the name of Nana plotted
NANA AFARI-SEM Adwoa Konadu Afari-Sem
6 Landed property situate at Not No On file
Kanda and Registered as GA plotted
3663
PRINCE LOMOKO
7 Landed property situate at Not Yes None on file
North kaneshie plotted
SENOMAS GH. LTD
8 FIRST LIGHT COLD Property situate at Mataheko- Not No On file
STORE registration AR/87/2006 plotted

9 Landed properties situate at Not No On file

SAMGLADWIN CO.LTD Tema Comm. 13 and plotted
Katamanso

10 Landed property at Nmai Not No None on file

LOUIS DES BORDES Dzorn plotted

11 Landed property situate at Not No None on file

SELORM YAO TUGLO Dawhenya plotted

12 Landed property situate at Plotted Yes On file

AYA CONSTRUCTION Koforidua, New Juaben District
WORKS
13 Landed property known as plot Not Yes None on file
320 situate at Trassaco valley plotted
and stamped as LVD13820/10
in the name of Kofi Peasah
KOFI PEASAH-BOADU Boadu

14 Landed property situate at Not No None on file

Tetegu near Mccarthy Hill in plotted
the name of Kwame Oti
Awere
KA-DAK ENTERPRISE
15 Landed properties at Teshie & Not No None on file
PTL SOLAR GHANA Osu plotted
LIMITED
16 Landed property situate at Not Yes On file
CHRISTOPHER QUAYE Pokuase numbered plotted
AR/601B/2009
17 Landed property situate at Not Yes On file
KORASE LIMITED
5 Internal Audit Report-NDK-Accra. June, 2014
 New Achimota plotted

Landed property situate at Not No None on file

Tetegu near Mccarthy Hills plotted
MAB INVESTMENT
18 Landed property situate at Not No None on file
New Tafo, kumasi plotted
INITIAL ENTERPRISE
19 Landed property situate at Not Yes On file
CJFP PETROLEUM Pokuase plotted
COMPANY LIMITED
20 Landed property situate at Not No None on file
Yabiw, Shama Ahanta, plotted
Western Region
OMNI ENERGY
21 Landed property situate at Not No None on file
Mallam, Accra Registered as plotted
AR/4455/96 in the name of
Raphael Kofi Gawu
RAPHAEL GAWU
22 Landed properties situate at Not Yes On file
Tema Fishing Harbour plotted
registered-LVD5361/2012
and at Adabraka with
BLUEFONE MARINE Registration number
GHANA LTD 933/1971
23 Landed properties situate at Not No On file
DEVTRACO PLUS East Legon and Baatsona plotted
LIMITED
24 Landed property situate at Not No None on file
H/No. 9, Tagoe Street, East plotted
Legon in the name of Tutel
Business Systems
TUTEL BUSINESS SYS.
25 Landed property known as Not No On file
H.No /F9 situate at site 4, plotted
behind OLAM Catholic
Church, Tema Comm. 1, with
LVB No. 2783 in the name of
Leonard Kweku Okyere
KLOGG GHANA LTD
26 Landed property situtae at Not Yes On file
Akonfadzi and stamped as plotted
LVB/CR/1118/96 belonging
to Raymond Eduafo-
RAY-RAY FRONTLINE Mensah
CO. LTD
27 J.B. PLAZA LTD Commercial property situate at Not Yes On file
Oyarifa- Registered as plotted
6 Internal Audit Report-NDK-Accra. June, 2014
 LVB18726/09

28 Landed properties located at Not No.Landed On file

Weija, Kwawu Pepease and plotted properties
Adjiringanor situate at
Kwawu
Pepease
MES-BRE LIMITED and
Adjiringano
29 Landed property situate at Plot Not No On file
No. P10, East Airport, in the plotted
WESTBAY PROPERTIES name of Kojo Koomson
LIMITED
30 Landed property situate at Not No On file
Amassaman and stamped as plotted
LVD 18324/2011 in the name
MR ERNEST KWABENA of Ernest K. Baah
BAAH
31 Landed property situate at Not No On file
Opa Road, Sarpeiman, Accra plotted
TRADE AND HAULAGE in the name of Yunus
GH. LTD Pendaah
32 Landed property located at Plotted Yes On file
Ringway Estates, belonging to
MARICHEL FROZEN Marichel Co. Ltd and
LIMITED registered as GA 25880.
33 Landed property situate at Not No On file
Kwasieman and Registered as plotted
GA 15646 in the name of Nii
K. B CENTRAL
Dodoo
CONSTRUCTION WORK
34 Landed property situate at Not Yes None on file
New Achimota in the name of potted
Robert Nelson Y. Adayi
TREDS ENVITECH
35 Landed property known as No. Not No None on file
SRN 15 situate at Sunyani in plotted
the name of Nana Adjei
Ampofo
NANA ADJEI AMPOFO
36 Landed property situate at Not Yes On file
East Legon, Registered as TD plotted
8294 in the name of George
GEOSPENCE GHANA Kwame Aboagye
LTD

7 Internal Audit Report-NDK-Accra. June, 2014

37 Landed property situate at Not No On file
Odorkor, Housing Estate, plotted
known as Plot No. 12 in the
name of Ama Abrafi
MASERN GH. LTD.
38 Landed property situate at Not No On file
East Legon Hills , Nmai plotted
Dzorn , Land Title Certificate
Number TD 6025 in the name
of Redrow Development Ltd
REDROW LIMITED
39 Landed property situate at Not No On file
East Legon in the name of plotted
LIBERTY MEDIA Steve Mallory
CONCEPTS
40 OBOOMA FARM Warehouse property located at Not No None on file
PRODUCTS LIMITED Tema plotted

41 Landed property situate at Not Yes None on file

Anyaa with Land Certificate plotted
Number GA.24149 in the
JUSK VENTURES name of Eric Obeng Mainoo
42 Landed property situate at Not No None on file
Ablekuma in the name of plotted
Edward Gyimah and stamped
MR EDWARD GYIMAH as LVB/13755/2001
43 Landed property situated at Not Yes On file
H/No. 15, Onyaa Crescent, plotted
Kokomlemle-Accra with Land
Title Registration No. GA
11634 in the name of Samuel
Brew-Butler
RELTUB COMPANY LTD
44 Landed properties situate at Not Yes On file
NARH GLOBAL Tema comm. 25 and Frafraha plotted
SERVICES LIMITED
45 Landed Property situate at No. Not Yes On file
RICK VALVES 497 Blk 16, Sections 120, plotted
ENTERPRISE Kissieman, Accra in the name
of Rickson Akpah
46 JOE AZAR COMPANY Landed property situate at Not Yes On file
LIMITED Kisseman West in the name of plotted
Joseph Azar Akanyacha
47 Bare land situate at Not No None on file
Ashalajah -LVD 19375/2011 plotted
in the name of Mcdonald
Debra Sarpong
MCBITS SYSTEMS
8 Internal Audit Report-NDK-Accra. June, 2014
48 Residential property No. Not No On file
RP/20/F/34 situate at plotted
Community 20, Lashibi in the
name of Kee Atty with Land
MRS HAJIA MARIAM Title Registration Number GA
KHALDI ABAGNA 0475

ii. VALUATION OF PROPERTIES, LAND TITLE CERTIFICATE

S/N DESCRIPTION AND LOCATION OF VALUATION LAND TITLE

PROPERTY OF PROPERTY CERTIFICATE
CUSTOMER NAME
1 Landed property situate at Ablekuma in the Not None on file
name of Mr Kwakye Obeng stamped as professionally
3 OAKS COMPANY LTD. LVB1815/06 valued
2 Landed property situate at Dzorwulu in the Not None on file
name of Madam Edna Peggy Quansah professionally
NADEEN BEAUTY & and Registered as Land Registry No. valued
SUPPLY LTD 15/1998
3 Landed property situate at Kanda and Not None on file
Registered as GA 3663 professionally
PRINCE LOMOKO valued
4 Landed property at Nmai Dzorn Not None on file
professionally
LOUIS DES BORDES valued
5 Landed property situate at Dawhenya Not None on file
professionally
SELORM YAO TUGLO valued
6 Landed properties at Teshie & Osu Not None on file
PTL SOLAR GHANA professionally
LIMITED valued
8 Landed property situate at Ashaley Botwe Not None on file
SUPERIOR CHOICE CO. professionally
LTD. valued
9 Landed property situate at Tetegu near Not None on file
Mccarthy Hills professionally
MAB INVESTMENT valued
10 Landed property situate at Adenta Not None on file
(valuation), Landed property situate at professionally
CJFP PERTOLEUM Pokuase (Land Title) valued
COMPANY LIMITED
11 Landed property situate at Mallam, Accra Not None on file
Registered as AR/4455/96 in the name of professionally
RAPHAEL GAWU Raphael Kofi Gawu valued
12 BLUEFONE MARINE Landed property situate at Adabraka Not None on file
GHANA LTD (valuation), Landed properties situate at professionally
9 Internal Audit Report-NDK-Accra. June, 2014
 Tema Fishing Harbour registered- valued
LVD5361/2012 and at Adabraka with
Registration number 933/1971 (Land
Title)

13 Landed property at Baatsona (Land Title), Not None on file

Landed properties situate at East Legon professionally
DEVTRACO PLUS and Baatsona (valuation) valued
LIMITED
14 Landed property situate at H/No. 9, Tagoe professionally None on file
Street, East Legon in the name of Tutel valued
TUTEL BUSINESS LTD Business Systems
15 Residential property situate at Tema Not None on file
Comm. 1 (Land Title), Residential professionally
properties at Tema Comm. 1 and 3 valued
KLOGG GHANA LTD (Valuation)
16 Landed property situate at Akonfadzi and Not None on file
stamped as LVB/CR/1118/96 belonging professionally
RAY-RAY FRONTLINE to Raymond Eduafo-Mensah valued
CO. LTD
17 Landed property situate at Amassaman Not None file
MR ERNEST KWABENA and stamped as LVD 18324/2011 in the professionally
BAAH name of Ernest K. Baah valued
18 Landed property located at Ringway Not On file
Estates, belonging to Marichel Co. Ltd and professionally
MARICHEL FROZEN registered as GA 25880 valued
LIMITED
19 Landed property situate at New Achimota Not None on file
in the name of Robert Nelson Y. Adayi professionally
TREDS ENVITECH valued
20 Landed property known as No. SRN 15 Not None on file
situate at Sunyani in the name of Nana professionally
Adjei Ampofo valued
NANA ADJEI AMPOFO
21 Landed property situate at New Tafo, Not None on file
Kumasi Professionally
INITIAL ENTERPRISE valued
22 Landed property situate at East Legon Hills Not On file
, Nmai Dzorn , Land Title Certificate Professionally
Number TD 6025 in the name of Redrow valued
REDROW LIMITED Development Ltd
23 Landed property situate at Taborah Not On file
MR WINFRED KUMAH Professionally
APAWU valued
24 Landed property situate at East Legon in Not On file
LIBERTY MEDIA the name of Steve Mallory Professionally
CONCEPTS valued

10 Internal Audit Report-NDK-Accra. June, 2014

25 Landed property situate at West Adenta Not On file
with Land Title Registration No GA. 39656 Professionally
in the names of Gerald Fredua Akohene, valued
Colin Fredua Akohene, Derek Fredua
TROPICANA AIRLINES Akohene and Edward Fredua Akohene
LTD
26 Landed property situate at Ablekuma in the Not None on file
name of Edward Gyimah and stamped as Professionally
LVB/13755/2001 valued
MR EDWARD GYIMAH
27 Mortgage over landed property situate at Not On file
Airport Hills, Spintex Road, H.No 475 in the Professionally
name of Jamil Maraby with Registration valued
JAMIL MARWAN MARABY Number GA 21665
28 Bare land situate at Ashalajah -LVD Not None on file
19375/2011 in the name of Mcdonald Professionally
MCBITS SYSTEMS Debra Sarpong valued
LIMITED
29 Landed property situate at Mataheko Professionally None on file
Afienya valued
LODHILL CONST. LTD
30 Landed property situate at Baatsona in the Professionally None on file
name of Nana Adwoa Konadu Afari-Sem valued
NANA AFARI-SEM
31 Landed properties situate at Tema Comm. Professionally None on file
13 and Katamanso valued
SAMGLADWIN CO. LTD
32 Landed property known as plot 320 situate Professionally None on file
at Trassaco valley and stamped as valued
LVD13820/10 in the name of Kofi Peasah
Boadu
KOFI PEASAH BOADU
33 Landed property situate at Kisseman West Professionally None on file
in the name of Joseph Azar Akanyacha valued
JOE AZAR CO. LTD
34 Landed property situate at Odorkor, Professionally None on file
Housing Estate, known as Plot No. 12 in valued
MASERN GHANA LTD the name of Ama Abrafi
35 Warehouse property located at Tema Professionally None on file
OBOOMA FARM valued
PRODUCTS
36 Landed property situate at Opa Road, Professionally None on file
Sarpeiman, Accra in the name of Yunus valued
TRADE AND HAULAGE Pendaah
37 Landed property situate at Plot No. P10, Professionally None on file
WESTBAY PROPERTIES East Airport, in the name of Kojo Koomson valued
LIMITED
38 RICK VALVES Landed Property situate at No. 497 Blk Not On file
ENTERPRISE 16, Sections 120, Kissieman, Accra in Professionally
11 Internal Audit Report-NDK-Accra. June, 2014
 the name of Rickson Akpah valued

iii. DIRECTION TO CLIENTS RESIDENCE/OFFICE; BORROWER’S/WITNESS’ PHOTO ID

S/N DIRECTION TO BORROWERS’ WITNESS PHOTO

 CUSTOMER NAME RESIDENCE/OFFICE  PHOTO ID ID
1 On file None on file
3 OAKS COMPANY LTD. None on file
2 On file None on file
NADEEN BEAUTY & SUPPLY LTD None on file
3 On file None on file
CHAMPION JAYS CO. LTD. None on file
4 On file On file
LODHILL CONST. CO. LTD. None on file
5 On file On file
B.M.A COMPANY LTD None on file
6 On file On file
EAGLE EYE RESOURCES LTD None on file
7 On file On file
KGP COMPANY LTD. None on file
8 On file On file
SENOMAS GH. LTD None on file
9 On file On file
CNF LIMITED None on file
10 None on file None on file
SACRON GHANA LIMITED None on file
11 On file On file
SAMGLADWIN CO.LTD None on file
12 On file None on file
LOUIS DES BORDES None on file
13
EDWARD DARLINGTON None on file
14 None on file None on file
SELORM YAO TUGLO None on file
15 On file None on file
AYA CONSTRUCTION WORKS None on file
16 None on file On file
GIFTY NAA ENTERPRISE None on file
17 None on file On file
SAFRE LIMITED None on file
18 On file On file
NLA WELFARE ASSOC. None on file
19 None on file On file
BIG OMEN LTD. None on file
20 None on file None on file
PTL SOLAR GHANA LIMITED None on file
21 On file On file
MR AYUBA TANKO None on file

12 Internal Audit Report-NDK-Accra. June, 2014

22 On file On file
MR JUSTICE ABBAN MORRISON None on file
23 None on file On file
ROBERT AKWETEY TAGOE None on file
24 None on file None on file
MAB INVESTMENT None on file
25 On file On file
INITIAL ENTERPRISE None on file
26 None on file On file
TEMA YOUTH FOOTBALL CLUB None on file
27 None on file Yet
BEREKUM ARSENAL FC None on file
28 On file On file
OMNI ENERGY None on file
29 On file On file
RODNAA CONSULTS None on file
30 On file On file
BLESSED SCHOOL COMPLEX None on file
31 On file On file
THYWILL BUSINESS & INVESTMENT None on file
32 None on file On file
MR LEON APPENTENG None on file
33 None on file None on file
HEART OF LIONS F/C None on file
34 On file On file
RAPHAEL GAWU None on file
35 On file None on file
MR PAPA NII SOWAH None on file
36 None on file None on file
MR WILLIAM ADDO TAGOE None on file
37 None on file On file
KENPRIST HOMES LTD None on file
38 None on file On file
TUTEL BUSINESS SYS. On file
39 On file On file
MR ERIC WIAFE ODEI None on file
40 On file None on file
DELA AKPEY None on file
41 On file On file
MR DAVID KOFI WILLS None on file
42 On file On file
MR FRANCIS NODJO None on file
43 None on file None on file
MR FRANK JERRY None on file
44 On file On file
LEONARD ALFAYINE ALFA None on file
45 None on file None on file
TREDS ENVITECH None on file
46 On file On file
MR BERNARD APPIAH GYEBI None on file
47 On file On file
MS GERTRUDE AMARTEY None on file

13 Internal Audit Report-NDK-Accra. June, 2014

48 None on file None on file
NANA ADJEI AMPOFO None on file
49 On file On file
MR MICHAEL KPAKPO MILLS None on file
50 None on file None on file
JUSK VENTURES None on file
51 On file On file
MR SAMUEL KWASI HORMENOO None on file
52 On file On file
MR EMMANUEL AMOAH None on file
53 On file None on file
MS MARCIANA KAPOMEY None on file
54 On file On file
MISS JANET FRIEDA BEDIAKO ASAR None on file
55 None on file None on file
MR JOSEPH K. WILSON None on file
56 On file On file
HAYFORD ADJEI None on file
57 On file On file
JAMIL MARWAN MARABY None on file
58 On file On file
MR EMMANUEL METTLE-NUNOO None on file
59 On file On file
MR EMMANUEL LARYEA QUARSHIE None on file
60 On file On file
MR JOSEPH NII ARMAH ARYEE None on file
61 On file On file
BISHOP GABRIEL NSIAH NKETIAH None on file
62 None on file On file
MR PATRICK NESON SOGBODJOR None on file
63 On file None on file
MR SAMUEL ADDI None on file
64 None on file On file
CLICK GLOBAL On file
65 On file None on file
ERNEST YAW DENKYIRA On file
66 On file None on file
ERNEST KWABENA BAAH On file
67 On file None on file
MRS LYDIA ATTOH None on file
68 None on file None on file
ZINCOM LIMITED None on file

iv. VEHICLES-COMPREHENSIVE INSURANCE, CHANGE OF OWNERSHIP, VALUATION

REPORT

14 Internal Audit Report-NDK-Accra. June, 2014

S/N VEHICLE(S) DETAILS COMPREHENSIVE CHANGE OF VALUATION
CUSTOMER NAME INSURANCE OWNERSHIP REPORT

15 Internal Audit Report-NDK-Accra. June, 2014

1 2013 Hyundai Santa Fe- Expired: 7/2/2014 Effected GW -2765-13
GW 2765-13; 2005 VW and 4/9/2013 not
GTI Golf-GN 242 Y professionally
LEONARD ALFAYINE ALFA valued
2 DAF 85 CF 380 Water -GR Expired: Effected Professionally
9597-13; Axle Bed low 25/2/2014 valued
Semi-Trailer -GC 863-12
BA-ISENG
3 2006 Toyota Matrix with Done Effected Professionally
Chassis Number valued
2T1KR32E06C577103
MICHAEL NYARKO AMPEM
4 2007 Honda CRV - GR Done Not effected Not
9645 Y; 2005 Toyota for 2007 professionally
Tacoma -GT 8063 09 Honda CRV valued
PAULPET CO. LTD - GR 9645.
5 Mercedes Benz E Done Not effected Not
Class(2009) professionally
NICHOLAS KWESI AKPEBU valued
6 2004 Mercedes Benz - GS Done Not effected Not
7171-09 professionally
SAMUEL B. DANSO valued
7 2002 Toyota Sequoia Not done Effected Not
professionally
B.M.A COMPANY LTD valued
8 Mercedes Benz Vito Not done Effected Not
RICHARD AKWESI Van(1997) professionally
ASAMOAH valued
9 2000 Mercedes Benz C180 Not done Effected Not
professionally
EDWARD DARLINGTON valued
10 2001 Hyundai S.Wagon Not done Effected Not
Terracon professionally
GIFTY NAA ENTERPRISE valued
11 10Truck Heads and 8 Bulks Not done Not effected Not
professionally
CJFP PERTOLEUM CO. LTD valued
12 1 Hyundai Sonata, 1 Toyota Not done Effected Not
Corolla, 3 Nissan Almera professionally
RODNAA CONSULTS valued
13 3 Howo Tipper Trucks, 2 Not done Not Not
Vibrating Rollers, 1 effected: professionally
Bulldozer The 2 valued
Vibrating
Rollers &
the 1
KLOGG GHANA LTD Bulldozer
14 DELA AKPEY Toyota Hilux Pick-Up, Kia Not done Effected Not
Sportage , S/Wagon 2007 professionally
16 Internal Audit Report-NDK-Accra. June, 2014
 valued
15 2000 Nissan March Not done Not effected Not
professionally
MR FRANK JERRY valued
16 Nissan Sentra GW-7487-11 Not done Effected Not
; Toyota Corolla GC 374-11 professionally
RICHMOND AGBESI valued
17 Pontiac Vibe(2004) Not done Effected Not
TERRANOVA BIGGY professionally
VENTURES valued
18 Honda Ridge Line 2008 Not done Effected Not
MS BERYL NAA SAKLE professionally
HAMMOND valued
19 Nissan Navarra 2003, Not done Effected Not
Toyota Tacoma 2007 professionally
GEOSPENCE GHANA LTD valued
20 Hyundai Mighty (1998) Not done Not effected Not
professionally
MR DAVID AYIM DARKE valued
Toyota Tundra Not done Effected Not
21 (comprehensive Insurance), professionally
Mercedes Benz GL 460 valued
DIANA AMANKWAA ENT. (Valuation)
22 Toyota Land Cruiser 2010 Not done Not effected Not
professionally
MR JABAAH JOHN BENNAM valued
23 Mitsubishi Montero Station Done Effected Not
Wagon (2007) professionally
SACRON GHANA LTD valued
24 Hyundai Scoupe Done Effected Not
TOPTECH TRANSPORT & professionally
LOGISTICS valued
25 Komatsu D155 AX-5 Dozer, Done Effected Not
MAKAM PLANT HIRE CO. Volvo EC 380 Excavator professionally
LTD valued
26
27 Nissan 2008 Pathfinder Done Effected Not
professionally
MARTIN ODURO valued
28 Hyundai Trajet Wagon Done Effected Not
(2005) professionally
MS UMMU BABA-LAFINDA valued
29 Mercedes Benz C230 K Done Effected Not
Coupe professionally
MR YAW DANKWA DANSO valued
30 2002 Kia Rio-NO GB 6014- Done Effected Not
FERDINALD 12; 2004 Kia Rio-No GB professionally
CONSTRUCTION LTD 3608-12 valued

17 Internal Audit Report-NDK-Accra. June, 2014

 31 Toyota Land Cruiser Done Effected Not
(2010)- GR 7307-11; professionally
Mitsubishi L200 (2010)- GE valued
8711-11
PLACITO LTD
32 2012 Toyota Matrix with Not done Not effected Not
chassis number professionally
2TIKU4EE1CC909724 ; valued
2005 Mercedes Benz
C320K with chassis number
EMMANUEL KWADWO WDBRF40J15F701235
MIREKU
33 2005 Kia Sorrento Chasis- Not done Not Effected professionally
KNDJD733355473845; valued
Toyota Corolla-8869-11
BIZ 360 LIMITED

CONCLUSION:

Management should direct the Credit Division and the Loan Recovery Department to ensure the issues raised are
appropriately resolved.

Internal Audit will continue to follow-up on outstanding issues in order to ensure that they are resolved as required.

18 Internal Audit Report-NDK-Accra. June, 2014