The case, formally titled The Republic v. Kwabena Duffuor & 7 Others (CR/0248/2020), was dropped on Tuesday, July 22, after Deputy Attorney-General Dr. Justice Srem-Sai announced the entry of a nolle prosequi.

According to the Attorney-General’s Office, the decision was based on the successful recovery of significant public funds from the accused persons, making further prosecution both costly and unnecessary.

The Office explained that about 60% of the public funds and assets had been recovered, and pursuing the case further no longer served the public interest.

While critics, particularly from the opposition New Patriotic Party (NPP), have accused the current administration of promoting impunity, Mr. Kpebu believes the Attorney-General acted in line with international best practices.

Speaking on Joy FM’s Super Morning Show, he described the decision as bold and pragmatic.

“I embrace it fully. It is a bold decision, and it is the right thing to do,” Kpebu said. “We’ve said we need to improve our laws in respect of non-conviction-based asset recovery. This is one of them, even though we haven’t written it into law yet.”

He argued that prosecuting politically exposed persons often proves ineffective due to prolonged legal battles and delays.

“Most of the time, if we insist on convicting the person before recovering assets, it takes years. These people are often strong, rich — they get the best lawyers in town to delay proceedings. Eventually, the cases don’t end in conviction, and we lose everything. So, half a loaf is better than none.”

Mr. Kpebu added that the move should not be seen as a failure of justice but rather as an application of restorative justice principles aimed at recovering lost state resources.

Background: Financial Sector Clean-Up

Between 2017 and 2019, Ghana’s banking sector underwent sweeping reforms following a period of systemic distress that led to the collapse of several indigenous banks, including uniBank, UT Bank, Capital Bank, and others.

The Bank of Ghana cited insolvency, weak corporate governance, related-party lending, and unsustainable business models as key causes of the crisis. The clean-up led to the revocation of licences and the creation of Consolidated Bank Ghana (CBG) to assume the assets and liabilities of affected banks.

The financial sector reforms cost the state billions of cedis, prompting efforts to recover funds and hold individuals accountable. The Economic and Organised Crime Office (EOCO), under the Attorney-General’s supervision, led investigations and subsequent legal action in connection with the clean-up.

Accompanied by General Secretary, Fiifi Fiavi Kwetey and other national executives, extensive discussions and strategies ahead of the 2024 general elections were held.

Taking to Facebook, the former President indicated that, meeting was also aimed at renewing the friendship between the influential figures as well as foster collaboration ahead of the 2024 general elections.

Former Finance Minister, Dr Duffour withdrew from the NDC presidential race.

He accused the party leadership of breaching a prior agreement and assurance given to the then-three presidential aspirants to resolve the issues raised about the register before the polls.

Dr. Duffuor attempted to stop the May 13 primaries when his lawyers filed an interlocutory injunction but later backed down in the interest of NDC.

After the meeting with Mr. Mahama, the former Bank of Ghana (BoG) Governor pledged to be active in NDC’s electioneering campaign to recapture power from the New Patriotic Party (NPP) in 2024.

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See the post below:

According to him, the Secretary of the Bank should have been the one to receive the petition, in line with the tradition of Central Banks across the world.

Speaking to TV3, Dr Duffour described the decision by management of the Central Bank as unfair to the Minority MPs and the numerous Ghanaians who have concerns about their operations.

“I was expecting the Secretary of the Bank to receive the petition from the leaders of the protest because the Secretary is the face of the Bank” Dr Duffuor stated.

The Minority MPs declined to submit their petition to the Head of Security of the Bank of Ghana, Wing Commander Kwame Asare Boateng, who was delegated to receive it.

Minority leader, Cassiel Ato Forson who spoke on behalf of the group, said they wanted to hand the petition over to the Governor, Dr. Ernest Addison, or any of his deputies.

Dr Forson thus described the Bank’s decision as “disrespectful”.

In support, Dr Duffuor said “a petition is a communication issue, not a security issue. It is wrong to send the Head to receive the petition.”

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Addressing a presser on Friday evening, the former Governor of the Bank of Ghana stated that his decision is based on his grievances with the processes surrounding the party’s upcoming primaries; especially the voters register.

According to him, the exercise has been marred by a lot of irregularities; a situation which has not been resolved by the leadership of the party.

On the back of this, he, therefore, stressed that he will no longer vie for the flagbearership of the NDC; adding he will still keep in touch with the grassroots.

Reacting to the development on Adom TV, the Director of Elections at EC, Dr Serebour Quaicoe indicated nothing of that sort has come to their attention.

He stated an official communication is expected to come from the party about the withdrawal.

In view of this, Dr Quaicoe indicated electoral officials will have no option but to count Dr Duffuor’s votes should they appear in the ballot boxes.

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According to him, this is one act that has hurt him more than anything in his entire life.

He made these remarks while addressing party delegates at Adansi Asokwa in the Ashanti Region on claims of being sponsored by the NPP for the upcoming primaries.

“I founded the NDC so I’m NDC and nothing can change my love for NDC. The NPP destroyed my banks and tried to collapse every business under my control. I want to tell you that the NPP has hurt me more than any other member of the party.

“The NPP can never use me to destroy the NDC. My main aid is to return NDC to power to make Ghana better,” Dr Duffuor stated.

uniBank of which Dr Duffuor was a major stakeholder collapsed in 2018 after the Bank of Ghana (BoG) revoked its license as part of the financial sector cleanup.

At the time of its collapse, the government claimed the bank was insolvent and that the Directors and shareholders engaged in illegal transactions by giving out unlawful loans and advances as well as the illegal acquisition of assets in the name of related interests.

Dr Duffuor in November 2021 petitioned parliament to seek the restoration of the license due to which the Speaker, Alban Bagbin directed the formation of a seven-member committee to probe the collapse.

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The former Finance Minister is expected to be at the NDC Headquarters at 11:00 am.

The change in date from Wednesday to Thursday is in response to a request from the
party’s national executive due to its planned news conference True State of the Nation Address to be delivered by the Chairman, Johnson Asiedu Nketia on Monday at UPSA.

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A statement, signed by Dr Duffuor’s Spokesperson, Antonio Edem Asinyo, noted the campaign team will be present at the presentation and entreated all party faithful to attend.

A flagbearer hopeful of the National Democratic Congress (NDC), Dr Kwabena Duffuor, says he has forgiven Ningo Prampram MP, Sam George for constantly insulting him.

This comes on the back of a viral publication of Mr George’s statement which read how can you promise AHOTOR when you owe your staff 17 months of salary?

According to him, the lawmaker for a very long time insults him at any given time without provocation.

The former Finance Minister disclosed this on Adom FM’s Dwaso Nsem, stating he has no relationship with Mr George nor have they met before.

As a lawmaker, Dr Duffuor stated he expects Mr George to conduct himself properly and not to throw tantrums or make unguided comments.

Dr Duffuor stated he doesn’t understand why Sam George should have a challenge with his decision to contest the NDC flagbearership race just because his business suffered a setback.

In his view, the lawmaker should have reached out to enquire what exactly the problem was instead of making public comments about a situation he knows nothing about.

“I have always asked that we stop politics of insult because it retards progress and doesn’t help a party grow.

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“As a Member of Parliament, you should have sympathy and reach out to the workers to know what the situation is. But he doesn’t even understand why I want to be a flagbearer and is insulting me. Do you do that to an elderly person?”

The aspirant stressed the presidential primary was a contest of issues, ideas, and programs that would help build a strong and formidable party and by extension, for victory in the 2024 elections.

Audio attached above:

Dr Duffuor said his readiness to assist the government to present a good programme to IMF is for “God and country”.

He made the comment in an exclusive interview on Asempa FM’s Ekosii Sen programme Wednesday.

The former Finance Minister’s comment comes as the government begins negotiations with IMF officials on a possible programme.

The IMF lending to Ghana will be for balance of payments support that is expected to shore up Ghana’s international reserves.

An IMF-supported programme is expected to provide technical assistance to the government to come out with strategies to improve internal revenue mobilisation.

Dr Duffuor, who also took Ghana to IMF under late former President Mills, said he will be happy if consulted by the government.

He cited how in his time, the then government presented its own home-grown policies and received huge financial support from IMF to revive the economy to buttress his point.

Dr Duffuor, who is also a former Governor of the Bank of Ghana, is certain that going to the IMF is the best bet for the Akufo-Addo administration.

“We go with a good programme and IMF gives us money, the cedi will stabilise, inflation will go down and will give enough money to pay all the outstanding debts,” he added.

He, however, warned that the programme could worsen the plight of Ghanaians if the government fails to present a good programme which will attract fewer conditionalities.

As a patriotic citizen, Dr Duffuor said he was on standby to support the government if contacted to help.

Play the audio below for more of Dr Duffuor’s engagement with host of Ekosiisen, Osei Bonsu:

The policy is a micro-business initiative targeted at the NDC’s grassroots aimed at creating a sustainable revenue base for all 275 constituencies.

Speaking at the launch at the NDC Headquarters in Adabraka, Accra on Thursday, he described the project a novelty.

Reflecting on Dr Duffuor’s track record, Asiedu Nketia stated he was not surprised the former was the originator.

He touted the former Minister as the one who turned Ghana’s economy around and was convinced this initiative will also go a long way to benefit all.

“This project is the first of its kind since our party was established. We have been engaging with the donor and we want to collaborate with Dr Duffuor to structure the project very well in accordance with the party’s principles, procedures and laws. This is what caused the delay in officially endorsing the project,” he stated.

He maintained the project was sustainable and the proceeds will go a long way to support the party’s finances as they survive on dues and other voluntary donations.

“This money could have been used in buying consumables like the NPP were distributing frozen chicken parts in the last elections. This Ahot) project is intended to build the capacity of the party structure to run effectively.

“It is not going to provide anybody pocket money. It is a contribution that will support the party itself to grow, to develop its own capacity to finance its activities and I think that in that sense it is a very commendable project’,” he added.

Dr Duffuor on his part said the project has been engineered to strengthen and cushion the NDC financially.