Nana Agyei Baffour Awuah is the Member of Parliament for Manhyia South
Lawyer and businessman Nana Agyei Baffour Awuah has rejected allegations that he personally pocketed millions of Ghana cedis from a GH¢5 million settlement involving a land dispute between SIC Life Savings and Loans and other parties.
According to him, the claims made against him are inconsistent with the documented facts surrounding the case and risk damaging his reputation.
Speaking on the Eda Mu Fua programme on Accra FM, Baffour Awuah said he had resorted to the courts because the allegations made against him should be tested through evidence rather than a media campaign.
He explained that his decision to sue was not intended to gag or intimidate his accuser, stressing that he could have sought an injunction to prevent further public comments if that had been his objective.
“When someone peddles falsehoods, the proper legal forum to test and prove the truth is a court of law,” he said.
My reputation is important to me
The lawyer said his primary concern was protecting his reputation and integrity, which he described as a person's most valuable legacy.
“In this world, a person's good name is paramount. You can acquire wealth or properties, but a good reputation is the lasting legacy you leave on this earth for your children,” he stated.
He specifically disputed claims reportedly made on TV3 that he had settled the land matter for GH¢5 million and personally pocketed GH¢2.2 million from the amount.
He also rejected a separate claim that he had “made away with GH¢6 million” in connection with the disputed property.
Lawyer did not decide on settlement
Nana Agyei Baffour Awuah explained that, as legal counsel, he did not have the authority to make the final decision on whether his client accepted or rejected a settlement offer.
He said his role was to advise the client on the legal implications of the available options, while the ultimate business decision remained with the client.
“When a settlement proposal is tabled, counsel takes the offer to the client. The client decides whether to accept or reject it,” he explained.
He said this was precisely what happened in the dispute involving SIC Life Savings and Loans.
How the GH¢5m settlement came about
According to Awuah, the matter originated from litigation involving a Notice of Claim, which subsequently became an independent interpleader action concerning ownership of property attached under execution.
He said he successfully obtained judgment for SIC and spent about two years pursuing enforcement of that judgment.
However, he said the situation became complicated when a third-party interest in the property emerged involving developers, Ecoswiss.
According to him, Ecoswiss became involved because continued litigation over the land threatened its development interests, prompting the company to propose a settlement after it had already paid Equity Savings and Loans.
Awuah said SIC Life eventually decided to accept the settlement as a business decision after considering the risks associated with continuing the litigation.
He explained that if the matter had proceeded to its conclusion and the court had ruled that Ecoswiss was a bona fide purchaser for value without notice, SIC could have risked losing its security after years of litigation.
SIC approved and signed the settlement
The lawyer insisted that the settlement was properly documented and approved by the appropriate authorities at SIC Life.
He said he dealt directly with the Managing Director of SIC Life Savings and Loans through written email correspondence and that, after the settlement terms were finalised, the Managing Director confirmed that she had obtained board approval before signing the Terms of Settlement.
His role, he said, was to witness the execution of the agreement.
He added that he remains in possession of copies of the signed Terms of Settlement.
GH¢1.4m had already been recovered
Awuah further disputed the suggestion that SIC was owed GH¢6 million but simply accepted GH¢5 million as a settlement.
He said GH¢1.4 million had already been recovered from Equity Savings and Loans before the GH¢5 million settlement was reached.
According to him, GH¢400,000 was recovered after the company's bank account was attached, while a further GH¢1 million was obtained following an application for the oral examination of the company's directors under oath.
He therefore argued that any account of the transaction that ignores the earlier GH¢1.4 million recovery presents an incomplete picture of the case.
Why GH¢2.2m was paid as legal fees
Addressing the allegation surrounding the GH¢2.2 million legal fee, Awuah said the amount arose from the agreed legal retainer and the terms under which the settlement was concluded.
He said SIC's agreed retainer was 15%, but he insisted that the legal fees should not be deducted from SIC's settlement recovery.
According to him, the settling party therefore undertook to pay the agreed legal fees separately.
Awuah maintained that the circumstances surrounding the transaction are documented and can be verified through the relevant legal and settlement records.
He said he would rather allow the court to determine the disputed claims on the basis of evidence than engage in what he described as a media war.
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