The Attorney-General has entered a nolle prosequi in the case of The Republic v. Kwabena Duffuor & 7 Others, effectively discontinuing the prosecution against the former Finance Minister and his co-accused.
In a press release dated July 22, 2025, and signed by Deputy Attorney-General, Dr. Justice Srem-Sai, the Ministry explained that while prosecutorial discretion requires no explanation under law, the decision was made in the spirit of accountability and transparency.
The case against Dr. Kwabena Duffuor, founder of uniBank and a former Bank of Ghana Governor (1997–2001) and Finance Minister (2009–2013), arose out of the 2018 financial sector clean-up exercise that saw several indigenous banks collapsed and consolidated to stabilise Ghana’s banking system.
In February 2020, Dr. Duffuor and seven others, including former BoG Deputy Governor Johnson Asiama, were charged with multiple offences related to the collapse of uniBank. Prosecutors accused them of engaging in acts leading to unlawful losses to the State, including the alleged theft and laundering of approximately GHS 663.3 million.
The charges, numbering 68 counts, included conspiracy to commit breach of trust, dishonesty, money laundering, wilfully causing financial loss, and falsifying accounts. The prosecutions formed part of the government’s broader effort to ensure accountability and recover public funds lost during the financial crisis.
According to the Attorney-General’s Office, it had established a 60% recovery threshold of the alleged losses as a condition for reconsidering prosecution in such cases. Following prolonged negotiations and engagements, the accused persons in the Duffuor case met this recovery benchmark.
“In furtherance of public interest, and considering the significant recoveries made for the State, the Honourable Attorney-General has satisfied himself that continuing with the prosecution will not serve any additional public purpose,” the statement read.
The release emphasised, however, that the decision does not imply an absence of wrongdoing nor a vindication of any conduct. It described the move as a pragmatic step to protect State resources while pursuing the national interest.
The financial sector clean-up, launched between 2017 and 2018, led to the revocation of licences of banks including uniBank, UT Bank, and Capital Bank, over insolvency, undercapitalisation, and breaches of banking regulations. The government has since been pursuing civil and criminal actions to recover lost funds while ensuring systemic stability.
The Attorney-General reaffirmed his commitment to upholding the rule of law, protecting the public purse, and pursuing justice in all matters of national importance.
Source: Starrfm.com.gh
