Attorney-General and Minister for Justice, Dr. Dominic Ayine, has publicly explained the rationale behind discontinuing the high-profile criminal case against former Finance Minister Dr. Kwabena Duffuor and seven others, citing significant progress in asset recovery and legal complexities.
Speaking at a sectoral update on Monday, July 28, Dr. Ayine revealed that the decision to file a nolle prosequi—a legal notice to halt prosecution—was based on a structured settlement agreement proposed by the accused.
According to the Attorney-General, after extensive negotiations, the accused offered to repay GH¢2 billion out of a revised GH¢3.3 billion liability through a combination of direct asset transfers and assistance in recovering funds from third parties.
“By a letter dated May 7, 2025, the accused persons proposed to pay GH¢2 billion through a structured arrangement,” Dr. Ayine disclosed.
“They agreed to transfer GH¢800 million in assets directly to UniBank (in receivership) and to assist in recovering GH¢1.2 billion from third-party beneficiaries who received funds under their instruction.”
So far, GH¢844 million in landed properties has already been handed over to UniBank. Additionally, GH¢500 million of the GH¢1.2 billion from third parties has been recovered, with the remaining GH¢700 million expected within 18 months, alongside further proceeds from asset sales.
Key Considerations Behind the Decision
Dr. Ayine outlined several factors that influenced the Attorney-General’s Office to accept the settlement and withdraw the case:
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Inflated Bank Records Preceded Receivership: UniBank’s receiver confirmed that fictitious entries had inflated the bank’s assets by GH¢2.1 billion before it entered official administration.
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Ongoing Civil Proceedings: A separate GH¢300 million claim filed by the receiver in 2019 remains under review as part of an ongoing insolvency process.
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Lengthy Litigation: The case, initiated in 2020, has dragged on for over six years with limited success, largely due to the legal complexities and challenges in asset tracing.
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Declining Recovery Prospects: The Attorney-General warned that prolonged litigation could lead to diminishing financial returns and undermine the broader goals of Ghana’s financial sector reforms.
The now-discontinued case, The Republic v. Kwabena Duffuor & 7 Others (CR/0248/2020), was part of a broader effort launched during the financial sector clean-up to recover public funds and hold individuals accountable.
Dr. Ayine emphasized that charging someone with causing financial loss to the state does not necessarily mean they personally benefitted from the lost funds. Instead, the focus remains on restitution and the efficient recovery of public assets.
“It is important to make clear that when someone is charged with causing financial loss to the state, it does not imply that they took the resources that have been lost,” he stated.
