No Evidence of Theft in Unibank Case – A‑G Explains Withdrawal of Charges Against Dr. Duffour
Attorney‑General and Minister for Justice Dr. Dominic Akuritinga Ayine has clarified why criminal charges against former Finance Minister Dr. Kwabena Duffour and other directors of the now-defunct Unibank Ghana Limited were withdrawn, emphasizing that investigations found no evidence of theft, fraud, or personal enrichment.
Dr. Ayine explained that public discussion around Unibank’s collapse had been heavily influenced by the prominence of the Duffour family, rather than by legal facts or evidential requirements needed to sustain criminal prosecution.
He noted that each case from Ghana’s financial sector clean-up was different, and Unibank’s situation did not mirror others, such as Capital Bank, where investigators uncovered clear evidence of criminal conduct.
“In the Capital Bank trial, liquidity support from the Bank of Ghana was dishonestly redirected for private use. Investigators traced funds physically transported to the managing director’s private garage,” he said, underscoring that such evidence justified criminal prosecution.
By contrast, in the Unibank case, all liquidity support was applied according to normal banking channels, and no diversion of funds or dishonest appropriation was detected. Dr. Ayine stressed that bank failure itself is not a crime:
“Risk-taking is part of banking. Loan defaults and business failures, while regrettable, are not criminal offenses. Criminal law cannot punish poor business judgment in the absence of fraud, theft, or dishonesty.”
He dismissed claims that Unibank directors looted depositors’ funds, reinforcing that investigators found no evidence of theft. Regarding allegations of fraudulent breach of trust, he explained that under Ghanaian law, the relationship between banks and customers is contractual, not fiduciary, meaning failed loans alone do not constitute a crime.
On criticisms that Unibank granted loans to related or affiliated companies, Dr. Ayine clarified that regulatory or governance issues do not automatically translate into criminal liability. Only proof of dishonesty, diversion of funds, or personal enrichment would warrant criminal prosecution.
The Attorney-General emphasized that these legal realities guided the decision to discontinue criminal proceedings against Dr. Duffour and other Unibank directors, although civil remedies and asset recovery remain options for the bank’s receiver.
“They could either offer assets to cover part of the liability or face trial. But based on the evidence, acquittal was inevitable,” he said.
Dr. Ayine concluded by affirming that the Unibank case was never about theft or personal enrichment, highlighting the distinction between financial failure and criminality. This clarification sheds light on the broader financial sector clean-up, which continues to spark debate on accountability, justice, and the role of law in regulating banking crises.