Accra: Dr Dominic Akurutinga Ayine, the Attorney-General and Minister of Justice, has explained his decision to enter a nolle prosequi in the case of Republic versus Kwabena Duffour and Seven Others. This decision, according to Dr Ayine, effectively brought an end to the criminal trial of Dr Kwabena Duffour, former Governor of the Bank of Ghana and former Minister for Finance.
According to Ghana News Agency, Dr Ayine spoke at a Government Accountability Series press conference at the Presidency in Accra, where he detailed the process behind the decision. He revealed that the choice was made after prolonged negotiations with his team of State Attorneys, including the Director of Public Prosecution and the Receiver of UniBank. On the other side of the negotiations were Dr Duffour, the shareholders, directors, and managers of UniBank Ghana Limited (in Receivership).
Dr Ayine noted that in March of this year, the lawyers for the Unibank Directors and shareholders approached him with a proposal for their clients to settle their indebtedness to UniBank. A meeting was convened on March 25, 2025, with the involved parties and the Receiver of UniBank, Mr. Nii Amanor Dodoo, to discuss the matter further. During the meeting, it became evident that a reconciliation of UniBank's accounts with the Bank of Ghana was necessary, prompting Dr Ayine to authorize a reconciliation exercise to determine the full scope of UniBank's exposure.
The Attorney-General emphasized a holistic approach, combining liabilities from both criminal proceedings and ongoing civil cases, to reach a unified resolution that would bring closure to all related matters. The criminal case involved charges amounting to GHS 1.2 billion, while the civil case exposure was GHS 5.7 billion. Dr Ayine clarified that the total exposure in the criminal case was part of the civil case exposure and not in addition to it.
Adjustments during the reconciliation exercise led to a revision of the reported exposure from GHS 5.7 billion down to GHS 3.3 billion. This included the exclusion of GHS 2.1 billion in alleged fictitious amounts and GHS 0.3 billion related to UniBank's placement with a SEC-regulated related company, which is being pursued separately through the insolvency process.
After prolonged negotiations, the Accused Persons proposed settling the revised obligation of GHS 3.3 billion through a structured approach, offering GHS 2 billion in assets and cooperation to recover an additional GHS 1.2 billion from direct beneficiaries. So far, GHS 824 million in landed properties has been provided to UniBank, and GHS 0.5 billion has been recovered from the direct beneficiaries, with ongoing efforts to recover the remaining amount over 18 months.
Dr Ayine highlighted the complexity and duration of the legal proceedings, which have persisted for over six years without immediate resolution. He took a pragmatic approach to settle both the criminal and civil dimensions of the matter, recognizing the economic value to the state in a non-conviction-based asset recovery strategy.
The settlement terms ensure oversight by the Attorney-General, the Bank of Ghana, and the Ministry of Finance, with progress subject to quarterly reviews. Dr Ayine also addressed misinformation on social media, clarifying that Dr Duffour and others were not charged with stealing or looting public funds, but with causing financial loss to the state and related charges. He stressed that the charges were contestable and there was a high likelihood of raising doubt for an acquittal, as seen in similar cases like the Beige Capital Case.
