Attorney General and Minister for Justice, Dr. Dominic Ayine, has clarified that Dr. Kwabena Duffuor and seven others acquitted in the banking sector prosecution were never charged with stealing or looting public funds.
Addressing the media during the Government Accountability Series on Monday, July 28, Dr. Ayine rejected claims that the NDC government is shielding its affiliates.
His remarks followed widespread criticism—particularly from the opposition NPP—over the Attorney-General’s decision to discontinue the prosecution.
He emphasized that the charges brought against the accused were primarily related to financial infractions, not theft or misappropriation for personal gain.
“It’s been said that my setting a minimum threshold of 60% for the recovery of assert stolen as a condition for terminating the banking sector cases, I have cut a deal which permits persons who have stolen or looted public funds to go away with the 40% of the loots. Dr. Dr Duffuor and the other persons standing trial were not charged with stealing or looting of public funds.”
“They were charged with causing financial loss to the State, fraudulent breach of trust, falsification of accounts, dishonestly receiving and money laundering. But the facts and evidence supporting the charges never alleged that those standing trial personally benefitted from the banking transactions that rise to these charges.”
He disclosed that the accused offered to settle GH¢2 billion in liabilities, including GH¢800 million in direct asset transfers to the now-defunct uniBank and an additional GH¢1.2 billion to be recovered from third-party beneficiaries.
This clarification comes after the Attorney-General entered a nolle prosequi in the case of The Republic v. Dr. Kwabena Duffuor & 7 Others, effectively ending the prosecution.
A statement dated July 22, 2025, and signed by Deputy Attorney-General Dr. Justice Srem-Sai, said the decision was made in line with public interest and accountability, even though prosecutorial discretion requires no legal justification.
The charges stemmed from the 2018 financial sector clean-up that saw the collapse and consolidation of multiple local banks, including uniBank, UT Bank, and Capital Bank, over insolvency and regulatory breaches.
In February 2020, Duffuor and others, including former Bank of Ghana Deputy Governor Dr. Johnson Asiama, were slapped with 68 counts ranging from conspiracy and money laundering to falsification of accounts. Prosecutors alleged that their actions contributed to losses of over GH¢663 million.
However, following extensive engagement with the Attorney-General’s office, the accused satisfied a 60% asset recovery benchmark set by the government for possible termination of prosecution in such financial cases.
Dr. Ayine maintained that discontinuing the case does not equate to an endorsement or exoneration of misconduct. Rather, it is a pragmatic move to protect state resources, recover assets, and refocus state efforts where prosecution may no longer serve the public good.
He reiterated the government’s commitment to transparency, accountability, and the protection of public funds, noting that justice remains the guiding principle in all decisions undertaken by the Ministry of Justice.
Source: Starrfm.com.gh
