Today,12th February 2020, Prince Amoabeng, Dr. Kwabena Duffuor former Minister of Finance and Governor of Bank of Ghana and the other 13 persons are to appear Accra High Court to answer 110 charges which were associated with them with respect to the collapse of Unibank and UT Bank.

The collapse of these banks and other financial institutions has made the government compulsorily pay depositors money by hook or crook which amounts to billions of Ghana cedis. This action by the government is a move to bring all those alleged to have mismanaged their financial institutions of which the government has to bear the financial consequences to book. This court proceeding is a mechanism to retrieve depositors’ funds and/or punish the offenders.

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Dr. Kwanena Duffour, Former Minister of Finance and Governor of Bank of Ghana

With respect to the Unibank case, notable individuals are Dr. Kwabena Duffour, Kwabena Duffour Jr., Johnson Pandit Asiama, Ekow Nyarko Dadzie-Dennis, former 2nd Deputy Governor of the Bank of Ghana from May 2016 and December 2017 and others.

Kwabena Duffuor Jr. and Ekow Nyarko Dadzie-Denis are alleged to have misappropriated ¢48,269,477.75 which was meant for depositors in 2014 and this is contrary to section 128 of the Criminal Offences Act, 1960 (Act 29). Again, the two were also charged with misappropriating depositor’s money which was to the tune of GH¢164,051,706.14. According to the governor of the Bank of Ghana, uniBank shareholders made away with 75% of the bank’s asset which necessitated its collapse.

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Mr Prince Amoabeng, Founder of UT Bank

The accused are expected to respond to the charges and so we are waiting for the final outcome of the court proceedings.

Ghanaians expect fairness and at the end of the day, depositor’s funds are retrieved and paid to.

 

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