Attorney-General has officially dropped the criminal case against former Governor of the Bank of Ghana, Dr Kwabena Duffuor, and seven others after the State recovered more than 60 percent of funds allegedly lost in the collapse of UniBank Ghana Limited.
The discontinuation was formalised through a nolle prosequi filed on Tuesday, July 22, 2025, in the case The Republic v. Kwabena Duffuor & 7 Others (CR/0248/2020).
A statement signed by Deputy Attorney-General, Dr Justice Srem-Sai, said the decision came after prolonged negotiations and significant financial recoveries.
“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 explained.
The Attorney-General’s Office had reportedly set a 60 percent recovery threshold as a benchmark for reconsidering prosecutions in similar financial loss cases.
The statement, however, clarified that this development “does not imply an absence of wrongdoing nor a vindication of any conduct,” but was instead a pragmatic move to prevent further legal and administrative costs.
Dr Duffuor and the other accused persons, including his son Kwabena Duffuor II, faced charges of willfully causing financial loss to the State, money laundering, and dishonest appropriation of public funds following UniBank’s collapse in August 2018.
The Bank of Ghana cited insolvency, illegal related-party transactions, and capital shortfalls as reasons for revoking the bank’s licence.
The case, initiated in 2020, was one of the flagship prosecutions emerging from the State’s banking sector reforms, which impacted over 400 institutions and cost the State more than GH¢25 billion. Dr Duffuor has consistently denied any wrongdoing and remains an active figure in national politics.
