Kwabena Duffuor Case: GHC0.5bn has been recovered; GHCO.7bn balance to be recovered over 18 months – A-G

Attorney-General and Minister for Justice, Dr. Dominic Akuritinga Ayine, has explained the rationale behind discontinuing the criminal case The Republic vs. Kwabena Duffuor and Seven Others.

On Tuesday, July 22, 2025, the Attorney-General’s Office entered a nolle prosequi, officially halting the prosecution of the accused. The decision sparked criticism from sections of the public, with many questioning the A-G’s approach.

However, addressing the press at the Government Accountability Series on Monday, July 28, 2025, Dr. Ayine defended the move, revealing that it followed extended negotiations with the accused persons’ legal team.

He disclosed that on May 7, his office received a proposal from the accused to resolve a revised outstanding liability of GH¢3.3 billion through a structured payment plan.

As part of the proposal, the accused offered to settle GH¢2.2 billion in full and final payment, using a combination of asset transfers and recovery assistance.

This included GH¢800 million worth of assets to be transferred directly to UniBank’s receiver for the Bank of Ghana, along with active cooperation to help recover an additional GH¢1.2 billion from third-party beneficiaries.

“So far, landed properties valued at GH¢842 million have been provided to UniBank,” Dr. Ayine said. “The accused have also committed to covering any shortfall from the sale of those properties.”

He added that GH¢500 million of the GH¢1.2 billion recovery target has already been retrieved, with the remaining GH¢700 million expected within 18 months.

Dr. Ayine admitted that a cash settlement would have been ideal but was not feasible given the circumstances and the outcome of negotiations.

“While my team and I would have preferred full cash payment, it became clear that such an option was not realistic during discussions with the defence team,” he noted.

The case stemmed from the financial sector clean-up initiated under the Akufo-Addo administration, which led to the collapse of several institutions including UT Bank, Capital Bank, UniBank, Heritage Bank, Royal Bank, BEIGE, and GN Bank.

Dr. Duffuor, the owner of UniBank, and his co-accused were charged with financial misconduct, breach of fiduciary duty, and causing financial loss to the state as part of the broader banking sector reforms.