Controversy Surrounds UniBank Collapse: A-G Drops Charges Amid 60% Recovery of GHC 5.7 Billion Debt

Accra, Ghana – A significant controversy has erupted following revelations that the Attorney-General's office has dropped charges against Dr. Duffuor and his associates in connection with the 2018 collapse of UniBank. The decision comes despite only 60% of the pledged GHC 5.7 billion repayment by 2025 having been recovered, according to a statement attributed to Professor Isaac Boadi.

Professor Boadi, identified as the Dean of the Faculty of Accounting and Finance at UPSA and Executive Director of the Institute of Economic and Research Policy (IERPP), raised a pointed question, asking, "Since when did 40% theft become acceptable?" His statement highlights growing concerns over the state's approach to financial misconduct cases and accountability.

In 2018, UniBank was one of several indigenous banks that faced closure as part of a financial sector clean-up exercise initiated by the Bank of Ghana. At the time, Dr. Duffuor and his associates reportedly pledged to repay the substantial sum by 2025 to address the bank's liabilities.

The Attorney-General's decision to drop charges, even with a reported 40% shortfall in the promised recovery, is likely to fuel public debate on justice, corporate governance, and the protection of public funds in Ghana's financial sector. Calls for greater transparency and accountability in such high-profile cases are expected to intensify.

The Office of the Attorney-General has yet to issue a formal statement regarding the specifics of the decision to drop the charges.