State discontinues case against former BoG Deputy Governor

The state has withdrawn all charges against Dr Johnson Pandit Asiama, a former Deputy Governor of the Bank of Ghana.

Dr. Asiama was among nine individuals charged in connection with the collapse of UniBank and UT Bank. The accused faced charges including fraudulent breach of trust, money laundering, conspiracy to commit a crime, and violations of the Bank of Ghana Act.

These allegations stemmed from the central bank’s financial sector cleanup, which led to the revocation of licenses for several financial institutions, including the two banks.

Others charged included UT Bank’s founder and former CEO, Prince Kofi Amoabeng, as well as Catherine Johnson, UT Holdings Ltd., Raymond Amanfu, and Robert Kwesi Armah.

The charges were based on alleged financial malfeasance and regulatory breaches believed to have contributed to the banks’ insolvency.

However, Amoabeng consistently denied wrongdoing, arguing that UT Bank’s collapse resulted from systemic challenges in the banking sector rather than deliberate mismanagement.

In the UniBank case, former Finance Minister Dr. Kwabena Duffuor, his son Dr. Kwabena Duffuor II—who served as UniBank’s CEO before its collapse—and other top executives were also accused of money laundering, fraudulent breach of trust, and conspiracy to commit a crime.

Below is the withdrawal note.