A 31-year-old account officer of the Accra Christ the King Co-operative Credit Union, Emmanuel Dery, has been remanded into police custody over the alleged theft of GH¢591,390.75 belonging to the credit union.
Dery, who is accused of dishonestly appropriating the money between 2014 and December 31, 2025, appeared before the Accra Circuit Court, presided over by His Honour Kwabena Kodua Obiri-Yeboah. His plea was not taken, and the court remanded him into police custody to reappear on November 12, 2026.
The prosecution, led by DSP Emmanuel Nyamekye, charged Dery with stealing, contrary to Section 124(1) of the Criminal Offences Act, 1960 (Act 29).
According to the prosecution, Dery, who resides at Achimota, was employed by the credit union in 2014 as an accountant and was solely responsible for the day-to-day collection of cash from members and depositing the money into the institution’s account.
However, concerns about financial discrepancies emerged in June 2025 when officials of the Ghana Co-operative Credit Union Association conducted an on-site cash examination and discovered a shortfall of GH¢143,969.15.
The prosecution said a new Board of Directors was constituted in September 2025 and subsequently requested another examination of the credit union’s accounts before assuming office. A second cash examination reportedly revealed further discrepancies, with a figure of GH¢405,972.94 recorded for the period between June and September 2025.
The development prompted management to commission an external audit into the credit union’s financial activities for the year ending December 31, 2025. The audit report allegedly uncovered a cash deficit of GH¢634,202.22, following which Dery was queried over the unbalanced accounting records.
In his response, the prosecution said, Dery admitted misappropriating GH¢591,390.75.
The credit union also allegedly discovered that GH¢6,000 had been transferred from its mobile money account into Dery’s personal mobile money account without authorisation.
Police are said to be pursuing further disclosures on the suspect’s mobile money accounts as investigations continue. Dery will remain in police custody until his next court appearance on November 12, 2026.
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