Dr. Dominic Akuritinga Ayine, the Attorney-General and Minister for Justice, has explained the reasons behind the Republic v. Kwabena Duffuor and 7 others case’s termination.
On Tuesday, July 22, 2025, the Office of the Attorney-General declared that it had entered a nolle prosequi in the case, thereby ending the prosecution of the defendants.
Following the A-G’s announcement, some members of the public voiced their dissatisfaction with the way the situation had developed and insisted that the A-G’s strategy was inadequate.
However, following extensive discussions with the accused’s attorneys, Dr. Ayine gave a news briefing at the Government Accountability Series on Monday, July 28, 2025, outlining the reasons his office chose to end the investigation.
He stated that on May 7, the accused submitted a plan to his office to settle a revised outstanding obligation of GHC3.3 billion in a methodical manner.
According to the A-G, the accused further promised to make preparations to pay GHC2.2 billion in full and complete satisfaction of the outstanding obligation.
As part of these agreements, assets valued at GHC 800 million were to be transferred straight to UniBank, the receiver, and then made accessible to the Bank of Ghana.
“Out of the above arrangements, the accused persons have provided landed properties valued at GHC842 million to UniBank.”
“Further, the accused persons will be responsible for any shortfall in the proceeds realized from the sale of the landed properties,” Dr. Ayine noted.
“A total of GHC0.5 billion has till today been recovered out of the GHC1.2 billion being pursued from the direct beneficiaries. Recovery of the remaining balance of GHCO.7 billion out of the GHC1.2 billion and the realization of the landed properties provided are expected to be completed over a timeline of 18 months,” he added.
The plan also called for the accused to actively cooperate and participate in order to help the receiver collect an extra GHC1.2 billion from the direct beneficiaries.
The Attorney-General stated that, although though he and his colleagues wished the accused parties had reached a cash settlement, discussions with the accused parties’ attorneys revealed that this was not feasible.
“Although the preference would have been for me and my team for the accused person to settle the proposed amount in cash, immediate settlement of cash from my sense of what transpired at the negotiations, a realistic possibility,” he stated.
The former Akufo-Addo government’s financial sector cleanup had an impact on a few well-known financial companies. UT Bank, Capital Bank, UniBank, Heritage Bank, Royal Bank, BEIGE, and GN Bank were among these establishments.
Allegations of financial impropriety, duty breach, and causing financial harm to the state were at the heart of the case.
During the cleanup effort, it was claimed that Dr. Duffuor, the owner of the defunct UniBank and its subsidiaries, and the other defendants were responsible for the failure of a number of financial institutions, including banks, savings and loan companies, and microfinance organizations.
Source: newsthemegh.com