Dr Kwabena Duffour, a shareholder of the defunct uniBank Ghana Limited, has initiated a fight to reclaim uniBank, which the Bank of Ghana (BoG) on August 1, 2018, collapsed along with four other banks on grounds of insolvency.
The Bank of Ghana on August 1, 2018 merged five banks into a Consolidated Bank of Ghana Limited with the explanation that investigations had established that the five banks were insolvent.
The banks are BEIGE, Sovereign, Construction, UniBank and Royal Bank.
However, through his lawyer, Professor Raymond A. Atuguba of Atuguba and Associates, Dr Kwabena Duffuor has filed a suit against the Bank of Ghana over the revocation of the license of uniBank.
Dr Duffour, who is a former Minister of Finance and also a former Governor of the Bank of Ghana wants the High Court in Accra to order the Bank of Ghana to give him back his bank.
In the suit filed on Monday August 20, 2018, Dr Duffour is asking for an order of injunction restraining the Bank of Ghana from expropriating uniBank by its purported vesting of “good assets and liabilities” in Consolidated Bank Ghana Limited.
Other reliefs are that, he wants a declaration that the license purportedly granted to the Consolidated Bank Ghana Limited was not granted in accordance with Act 930 and therefore is "null and void."
He is also seeking a declaration that the “good assets and liabilities of uniBank, including deposits of depositors, cannot be lawfully vested in Consolidated Bank Ghana Limited.
Attached is the statement of claim
Source: Peacefmonline.com; additional file from Graphic.com
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As a former Governor, you sat down and allowed your bank to go insolvent. If you could salvage it, why didn't you do it before this policy by BOG? I hope you were not using the depositors money to finance NDC party activities.
really Prof Atuguba leading Dr. Duffour in court? hahahahahaha I laugh pass NDC head quarters. Atuguba couldn't face Afenyo Markin in the UEW case how much more Godwin Odame and sophia Akuffo
I am really sad that Dr. Duffor and his family is reducing themselves to this kind of public ridicule. Has Dr. Duffuor and his son the moral right to go to court after subjecting the Bank and its customers to this kind of ***barred word*** and open ***barred word***? Really? The junior Duffuor was living like an Arabian business tycoon, buying properties left and right, including properties in Dubai, on the Volta shores, on the beach fronts, in all of Accra. According to staff, he was even taking money from the vault of the World Trade Centre branch on Fridays and stashing them in his car boot. Isn't is open secret that they took monies from the Bank to establish the radio and television stations under the EIB Network? Have they paid those monies back? Isn't it true that they purchased a lot of properties with the Bank's monies, including Abrantie Spot at Abeka Lapaz and transferred those properties into the name of the so called hoda holdings or whatever they call it? Have they paid those monies back? Are they really honest with the investing public? Truly this man and his family has no shame. Did they once paused to think that the monies belong to depositors? How much did they invest in the Bank themselves to empower them to take so much out for their personal businesses? They need to come clean and stop this ***barred word*** of going to court. The court is not an ***barred word***. I think the Bank of Ghana should report the conduct of the now infamous Doctor and his son to the CID for the matter to be looked into thoroughly so that if they are found to have defrauded the public, then prosecution can follow. We cannot tolerate this kind of
The effrontery of a dying cockroach. After creating the mess you still want to exhibit your incompetence!
Really BoG if you had done your work well none of these guys would have the temerity to sue...they would be so busy keeping themselves out of jail
Really exciting times.
Delay tactics... Dr Duffuor ur making professor atuguba rich..