Daniel Charles Gyimah, Managing Director of National Investment Bank (NIB), has been charged by the Bureau of National Investigations (BNI) for wilfully causing financial loss to the state. He is suspected to have guaranteed a $60-million facility to a client, whose identity is yet to be disclosed. Gyimah was arrested on Thursday by the BNI and dragged to a Circuit Court in Accra on Friday but has been released on bail. Details of his offence are sketchy, but one of his lawyers, Bright Okyere Agyekum, told Joy News their client has been held unduly by the BNI contrary to the court's ruling. When asked on whose behalf the money was guaranteed, Mr. Okyere declined comment, but argued the bank was yet to pay the amount, in spite of the guarantee. The prosecution of Mr. Gyimah under the controversial law of causing financial loss to the state is the first since the NDC took over the reigns of government. Several functionaries of the Rawlings-led administration, including Tsatsu Tsikata were found guilty of the law after a protracted legal battle - one people refer to as a political trial. Even though Tsikata has called for the law to be scrapped off the statute books, Justice Minister designate, Betty Mould Iddrissu, told the Parliamentary Committee on Appointments the law must be maintained. Story by Nathan Gadugah