The Commercial Court in Accra has declared the appointment of Nii Amanor Dodoo as receiver of uniBank Ghana limited as a breach of the of the Specialized Deposit-Taking Institutions Act (Act 930).
Making the declaration Thursday 24th June, 2021, the court presided by Justice Afi Agbanu-Kudemor also ruled that Mr. Amanor Dodoo’s acceptance of the job is in breach of the Act.
The court held that Nii Amanor Dodoo ought not to have accepted the appointment as receiver when he acted as a member of the team of accountants from KPMG who were appointed by Bank of Ghana as the official administrator of uniBank.
In that regard, his acceptance of the appointment was a clear case of conflict of interest and therefore illegal.
The court subsequently struck out all matters on the docket regarding the case.
It granted an application by Dr Kwabena Duffuor to strike out a writ of summons issued by the receiver for illegality and a consequent lack of capacity in the takeover of unibank.
After the hearing, lawyers for Dr. Kwabena Duffuor declined to comment.
Background
On August 1, 2018, the Bank of Ghana announced the consolidation of five indigenous banks to into Consolidated Bank Ghana.
The five collapsed banks included unibank Ghana Ltd, The Royal Bank LTD, Beige Bank LTD, Sovereign Bank LTD, and Construction Bank Ltd.
They were described as insolvent and therefore not capable to operate.
Official Administrator, KPMG, in the course of its audit discovered that about ¢5.7 billion was owed by shareholders of uniBank as of March 20, 2018.
The GHS5.7 billion was the focus of a previous suit by Nii Amanor Dodoo who was acting as the Receiver.
Latest Stories
-
Access Bank Ghana Plc records commendable financial growth in quarter one, 2024
2 hours -
GFA DC charges Bashir Hayford over alleged misconduct in Bechem Utd game
2 hours -
MTN FA Cup: Dreams FC beat Soccer Intellectuals to make semis
3 hours -
Ayorkor Botchwey champions transformative investment, trade agenda
3 hours -
KNUST, University of Rwanda share experiences in implementation of Mastercard Foundation Scholars Program
4 hours -
Top 10 most visited tourist sites in Ghana 2023
4 hours -
Cecilia Dapaah case: I will reopen investigation into alleged acts of corruption – Mahama
4 hours -
GRA boss charges customs officers to be professional ahead of 2024 general elections
5 hours -
NPP thanks stakeholders for successful Ejisu by-election
5 hours -
Bawumia promises to involve chiefs in licensing miners if elected President
5 hours -
Koda should have visited the pastor to avert the prophecy – Ajagurajah
5 hours -
Emotional support alligator taken and released in swamp
5 hours -
A mate is a mate, Bawumia can’t be in the driver’s seat – NDC Communicator
5 hours -
Over 400 million Google accounts have used passkeys, but our passwordless future remains elusive
5 hours -
Kwame Nkrumah Memorial Park surpasses Aburi Gardens as most visited site in 2023 – GTA
5 hours