Dr. Ayine Clarifies Misrepresentation, Not Theft
Attorney General Dr. Dominic Akuritinga Ayine, on July 28, 2025, justified dropping charges against former Finance Minister Dr. Kwabena Duffour and seven others in the UniBank collapse case, stating they did not cause financial loss or steal funds. The charges involved GH¢3.3 billion, including GH¢2.1 billion in falsified accounts to misrepresent UniBank’s economic health to the Bank of Ghana (BoG).
Ayine clarified that the initial GH¢5.7 billion figure was reduced to GH¢3.3 billion, as the GH¢2.1 billion was book entries, not cash outflows, designed to inflate UniBank’s capital. The accused faced charges of falsification of accounts, not theft, as no funds were disbursed. A separate GH¢300,000 issue involving an SEC-regulated company is under insolvency proceedings.
The decision, announced after a July 25 court session, followed a review showing insufficient evidence for criminal intent. Critics, including NPP MP Patrick Boamah, accused the AG of political bias, citing Duffour’s NDC ties. The BoG revoked UniBank’s license in 2018 amid insolvency, with a 2020 audit revealing mismanagement.
The case’s dismissal shifts focus to civil recovery via receivership, with Duffour’s HODA Holdings still under scrutiny for related financial irregularities.