UniBank saga: Court of Appeal holds that BoG's appointment of Receiver was correct

The Court of Appeal on Thursday December 1, 2022, held that the High Court was wrong in deciding that Bank of Ghana’s decision to appoint Nii Amanor Dodoo as Receiver of UniBank was wrong.

This comes on the back of the civil case to recover over GH¢5.7 billion from the founder of defunt, UniBank Limited Dr, Kwabena Duffuor and the other defendants.

The High Court had earlier granted an application by Dr. Kwabena Duffour and the other defendants, and struck out the Receiver’s case against them, based on the argument that Nii Amanor Dodoo should not have accepted Bank of Ghana’s appointment as Receiver of uniBank, because two years had not passed since he worked on the team of the Official Administrator of uniBank.

The Receiver however appealed against the decision on 28 June 2021.

But in a unanimous judgment read by His Lordship Richard A. Frimpong, JA the Court of Appeal held that the High Court was wrong in its interpretation of the relevant provisions of Act 930, and that Nii Amanor Dodoo was properly appointed as Receiver.

The Court of Appeal also referred to, and endorsed its own earlier decision in another (but related) matter, in which it ruled that Nii Amanor Dodoo was validly appointed.

The recent decision now means that the Receiver [Nii Amanor Dodoo] can now continue with his work and efforts to retrieve amounts that were said to have been taken out of UniBank by Dr. Kwabena Duffour and the other defendants.