The Attorney-General’s Office has filed a nolle prosequi, effectively discontinuing the high-profile criminal case against former Finance Minister Dr. Kwabena Duffuor and seven others over the collapse of uniBank.
The decision, announced in court on July 22 by Deputy Attorney-General Dr. Justice Srem-Sai, follows what the AG’s office described as a “significant recovery” of state funds lost during the financial sector clean-up.
The case, The Republic v. Kwabena Duffuor & 7 Others (CR/0248/2020), was one of several prosecutions launched after the 2018 banking sector reforms aimed at sanitising Ghana’s financial system.
Dr. Duffuor, founder of uniBank and a former Governor of the Bank of Ghana, was charged in 2020 with offences including theft and money laundering. Prosecutors alleged that he unlawfully received GHS 663.3 million (about $122 million at the time) from the bank’s coffers.
uniBank was declared insolvent in August 2018 after the BoG found that shareholders and related parties had taken GHS 5.3 billion in loans and withdrawals without proper authorisation. The charges also involved other senior officials, including former BoG Deputy Governor Dr. Johnson Asiama.
According to the Deputy AG, the accused persons met a recovery threshold of 60% of the alleged losses following extensive negotiations involving the Economic and Organised Crime Office (EOCO) and other state agencies.
“In furtherance of the public interest, and considering the significant recoveries made for the State, the Attorney-General has satisfied himself that continuing with the prosecution will not serve any additional public purpose,” Dr. Srem-Sai stated.
A nolle prosequi does not amount to an acquittal but halts the prosecution, allowing room for future charges should new evidence emerge. The AG’s office emphasised that the move “does not imply an absence of wrongdoing” but reflects a pragmatic approach to safeguarding public resources.
The Attorney-General reaffirmed his commitment to accountability, transparency, and protecting the public purse in all matters of national importance.
Source: AdomOnline
