The Bank of Ghana has been thrown into a state of deep confusion as Dr Kwabena Duffour, a major shareholder in one of the recently liquidated banks, has slapped the central bank with a lawsuit to reclaim UniBank.

In a defiant action to the BoG that he is not taking his recent action lying down, Duffuor, a shareholder of the defunct uniBank, has initiated a major fight to reclaim the bank he started.

His lawyer Professor Raymond A. Atuguba of Atuguba and Associates filed a suit against the Bank of Ghana on Monday over the revocation of the license of uniBank.

Dr Duffour, who is a former Minister of Finance and also a former Governor of the Bank of Ghana, wants the High Court in Accra to order the Bank of Ghana to give him his bank back.

In the suit filed on Monday August 20, 2018, Dr Duffour is asking for an order of injunction restraining the Bank of Ghana from expropriating uniBank by its purported vesting of “good assets and liabilities” in Consolidated Bank Ghana Limited.

As at March 2018, UniBank had enjoyed a total of GH¢2.2 billion in the form of liquidity support from the Central Bank over two years but the bank could not turn things around.

The Central Bank, as a result, directed the executive management of the private bank to give way to new control by putting KPMG in charge in March.

At the beginning of August, 2018, the BoG revoked the licences of UniBank, Beige Capital, Sovereign Bank, Construction Bank and Royal Bank and merged them into Consolidated Bank Ghana Limited.

Source: Ghanaguardian.com