I resigned before UT Bank collapse, yet faced eight years in court - Amoabeng

Business mogul Prince Kofi Amoabeng has spoken candidly about his prolonged legal battle following the collapse of UT Bank, highlighting the need for reforms in Ghana’s judicial system.

Amoabeng, the former CEO of UT Bank who resigned in 2015, two years before the bank collapsed in 2017, said he has since faced “baseless charges” and has been in court for nearly eight years.

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“Now, when it comes to my own case, I was at the bank and I resigned in 2015, and the bank collapsed in 2017, almost two years after I resigned. And then there were some baseless charges against me,” he said on JoyNews on January 19, 2026.

Reflecting on the personal and professional toll, Amoabeng noted that the lengthy legal proceedings have been challenging both financially and emotionally.

“I have been in court for almost eight years. Now, if I were not the type of person who would say, ‘Listen, it’s okay, I still have a purpose, I’m going to do things,’ I think it would have been the end of me. I’ve been paying legal fees for seven, eight years, and going to court every so often. It’s not a pleasant experience,” he added.

He also expressed frustration over the slow pace of justice in Ghana, citing cases that can stretch for decades, sometimes outlasting the lives of the litigants themselves.

“You find that, when it comes to even land issues, the cases can go on for 40 years. The litigants die. The next of kin even die. That is not justice. That’s why I’m saying, if we do anything to ensure that people are respected and receive the justice they deserve, we must look at the judicial system and set limits,” Amoabeng said.

Amoabeng, widely recognised as one of Ghana’s most respected CEOs and recipient of accolades such as the National Award and Johnnie Walker recognition, lamented the tendency to undermine public figures during legal proceedings.

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“This is what has happened to somebody who’s been acknowledged as Ghana’s most respected CEO… We tend to destroy our own, and then when the case goes to court, nothing much happens,” he said.

MAG/MA

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