Duffuor and 7 Others Off the Hook as AG Drops Charges in uniBank Collapse Case
Accra, Ghana – 22 July, 2025 – The Attorney-General's office has discontinued the high-profile case against Dr. Kwabena Duffuor and seven others in connection with the collapse of uniBank. The decision was made after the accused met the 60% recovery threshold of alleged losses, amounting to significant recoveries for the state.
Key Details of the Case:
Charges: Dr. Duffuor and the others were charged with various offenses, including theft and money laundering, related to the collapse of uniBank in 2018.
Alleged Impropriety: The Bank of Ghana declared uniBank insolvent, citing GHS 5.3 billion in irregular loans and withdrawals by shareholders and related parties.
Recovery Threshold: The Attorney-General's office, in collaboration with EOCO, set a 60% recovery benchmark for reconsidering prosecution.
The Republic v. Kwabena Duffuor & 7 Others (CR/0248/2020) case was a significant part of Ghana's financial sector clean-up exercise, initiated in 2018 to address systemic insolvency, governance lapses, and regulatory infractions. Dr. Kwabena Duffuor, founder of uniBank and former Finance Minister and Governor of the Bank of Ghana, was charged with theft and money laundering, allegedly receiving GHS 663.3 million knowing it was obtained through criminal means.
The Attorney-General's office discontinued the case, citing significant recoveries made for the state.
Ghana's banking sector crisis led to the collapse of several indigenous banks, including uniBank, UT Bank, and Capital Bank. The government established Consolidated Bank Ghana to absorb the assets and liabilities of some failed banks, with the clean-up costing taxpayers billions of cedis.
Source: Lead News Online/Leticia Okpoti
