The former Chief Executive Officer of the bank, through his lawyer, Kissi Adjabeng of Cromwell Gray LLP, said the action has become necessarily owing to the refusal of the BoG to furnish him with the documents.
ADVERTISEMENT
Duffuor sues BoG, demands release of files that led to withdrawal of Unibank's license
Dr Kwabena Duffuor has sued the Bank of Ghana, demanding the release of files upon which the central bank revoked the license of now-defunct Unibank.
Dr. Kwabena Duffuor
The former Governor of the BoG is demanding: “Notice by Bank of Ghana to uniBank Ghana limited revoking its banking licence, Bank of Ghana report that uniBank Ghana limited should be placed in official administration.”
“Purchase and assumption agreement between the plaintiff as Receiver of uniBank Ghana limited and four other banks and Consolidated Bank Ghana limited, all correspondence between the official administrator of uniBank Ghana limited and the Bank of Ghana in respect of the official administration of uniBank especially regarding the instructions and guidance of Bank of Ghana to the official administrator of uniBank Ghana limited.”
ADVERTISEMENT
It will be recalled that in December last year, Dr Duffuor challenged the takeover of Unibank by the BoG but it was thrown out.
The court presided over by Justice Angelina Mensah-Homiah, said counsel for the plaintiff had used the wrong procedure in complaining about the revocation and also alleging an abuse of his fundamental human rights.
UniBank, together with four other indigenous banks – Soverign, BEIGE, Construction and Royal Banks – have been merged to form the Consolidated Bank of Ghana Limited.
The Central Bank explained that the merger became necessary after some of the banks fell below the indigenous bank's Capital Adequacy Ratio (CAR) and others breached regulations.
ADVERTISEMENT
However, Dr. Duffour believes the licence purportedly granted the Consolidated Bank "was not granted in accordance with Act 930 and is null and void."
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
‘Dumsor’ challenges will end in a few days – ECG Board Chairman assures Ghanaians
We’ll prosecute corrupt appointees under Akufo-Addo’s govt – Prof. Opoku-Agyeman
How First and Second Ladies rejected and refunded all allowances given to them since 2017
Russian Deputy Defence Minister, Ivanov detained for accepting large bribes
Vice President Dr. Bawumia meets Pope Francis in Rome
Payment of salaries to spouses of President, Vice President illegal – Supreme Court
Celebrating a Maternal Pillar: The enduring legacy of Comfort Naa Momo Amugi
Akufo-Addo tasks the Finance Ministry, GRA to renegotiate the SML contract