Ecobank Ghana PLC has assured customers and stakeholders that its operations remain stable and financially sound despite suffering another setback in its protracted legal dispute with businessman Daniel Ofori.
In a statement issued on May 16, the bank acknowledged the recent Supreme Court ruling and reiterated its commitment to respecting the judicial process and the rule of law.
“As a responsible financial institution, Ecobank Ghana PLC respects the judicial process and will continue to uphold the rule of law,” the statement said.
The bank further moved to calm public concerns, stressing that the legal developments have not affected its operations or service delivery.
“We wish to reassure our customers that the Bank’s financial position remains strong and resilient, and our services continue without disruption,” the statement added.
The assurance comes after the Supreme Court dismissed Ecobank’s latest attempt to overturn an earlier judgment in favour of Mr. Ofori in a long-running dispute linked to a 2008 investment transaction involving shares in CAL Bank PLC.
In its May 6 ruling, the apex court reaffirmed that Mr. Ofori is entitled to 30 percent monthly compounded interest on an investment sum of GH¢6.16 million from June 2, 2008, to July 25, 2018 — the date of the original judgment.
The court further ordered Ecobank to pay post-judgment interest at 13.5 percent per annum on the full judgment debt until final settlement, in addition to GH¢50,000 in legal costs awarded to Mr. Ofori.
The ruling reinforces earlier Supreme Court decisions delivered in favour of the businessman and marks another significant development in the legal battle that has spanned several years through reviews, applications, and multiple court hearings.
Earlier court clarifications indicated that the 30 percent compound interest must first be applied up to the 2018 judgment date before the statutory post-judgment interest takes effect on the total judgment debt until payment is completed.
Despite the latest ruling, Ecobank maintains that all banking operations across its branches and digital platforms remain fully functional without any interruption to customer transactions.
