Dr Kwabena Duffuor through his lawyer, Kissi Adjabeng of Cromwell Gray LLP, has filed a motion at the High Court seeking to compel the Bank of Ghana to release some documents upon which the licence of the now-defunct financial company, uniBank was revoked.
According to the lawyers, the action has become necessary because the central bank has refused to release the documents despite several requests.
If the motion is upheld by the court, the Bank of Ghana and uniBank’s Receiver, Nii Amanor Dodoo, will be in contempt if they refuse to release the documents.
Some of the documents Dr Duffuor is demanding include: “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.”
Others include: “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.”
uniBank shareholders sue AG; claim KPMG misled government, BoG to revoke their license
The Receiver had dragged the 17 shareholders of the bank to court to have them forced to repay a GHS 5.7 billion debt they allegedly owe the defunct bank.
The shareholders earlier filed a motion in court seeking to join the Attorney General to an ongoing case in which the Receiver of the Bank, Nii Amanor Dodoo, is pursuing them in court.
According to the shareholders, the central bank and the Government of Ghana revoked uniBank’s license because they were both misled by the audit firm, KPMG into believing that uniBank was being improperly managed and that the bank was likely to fall into insolvency.
To them, the erroneous report by KPMG formed the basis for the revocation of the bank’s license and its good assets handed over to the Consolidated Bank Ghana.