Ghana's ex-finance minister charged over bank collapse

Ghana’s ex-finance minister Dr. Kwabena Duffour was on Wednesday charged by an Accra High Court for alleged crimes, leading to collapse of one of the nation’s biggest local lenders during a banking crisis.

He is accused of receiving 122 million dollars “knowing that it had been obtained by means of a criminal offense”, among other charges, according to court document.

Dr. Duffuor, founded now defunct Unibank Ghana Ltd, and was former Governor of the Bank of Ghana from 1997 to 2001.

Unibank was declared insolvent in August 2018 after shareholders and related parties received 977 million dollars in loans and other withdrawals without following due process, the central bank said.

Another person sued was Johnson Asiama, former deputy governor of the Bank of Ghana until 2018.

He was accused of having granted a facility to Unibank without following due process, causing losses of 28 million dollars to the state.

Dr. Duffuor has denied the charges. His lawyer Charles Puozuing, said Asiama wouldn’t immediately comment when contacted by phone.