The Office of the Attorney-General has formally discontinued the high-profile criminal case against former Finance Minister Dr. Kwabena Duffour and seven others, citing the successful recovery of significant funds for the State.
The decision, announced in a press release dated July 22, 2025, was effected through the entry of a nolle prosequi, bringing an end to the trial that has been ongoing since 2020.
The case, titled The Republic v. Kwabena Duffour & 7 Others (CR/0248/2020), was among several prosecutions linked to the government’s financial sector clean-up, which began in 2018. The prosecutions targeted individuals and entities alleged to have contributed to the financial sector crisis through various acts of financial misconduct.
In explaining the rationale behind the decision, the Attorney-General emphasized that while the law does not require justification for entering a nolle prosequi, the Office deemed it necessary to offer clarity to the public in the spirit of transparency and accountability.
According to the statement signed by Deputy Attorney-General, Dr. Justice Srem-Sai, the primary aim of these prosecutions was twofold: to ensure accountability for public resources and to recover losses suffered by the State. The Attorney-General’s Office had established a benchmark of 60% recovery of alleged financial losses as a condition for reconsidering ongoing prosecutions.
Following what was described as “prolonged negotiations and engagements,” the accused persons in this particular case—Dr. Duffour and his co-accused—have reportedly met this recovery threshold. The Attorney-General is therefore satisfied that pursuing the trial any further would not yield additional benefits to the public.
“This decision, however, does not imply an absence of wrongdoing nor a vindication of any conduct,” the statement clarified. “It is a pragmatic step in line with the overarching national interest of recovering state resources.”
The Attorney-General further stressed that the discontinuation of this case does not dilute the government’s broader commitment to protecting the public purse, upholding the rule of law, or securing accountability for financial infractions.
“This Office remains resolute in its commitment to justice and the protection of public funds,” the statement concluded.
The nolle prosequi brings an end to one of the most keenly watched cases stemming from the financial sector reforms, which have seen several financial institutions collapse, merge, or recapitalise. Public reaction is likely to focus on the transparency of the recovery process and whether the recovered sums match the scale of the losses initially alleged.
Background
Dr. Kwabena Duffour, a former Governor of the Bank of Ghana and Finance Minister, was among the key figures charged in connection with the collapse of certain financial institutions. Charges had included counts of fraud, money laundering, and causing financial loss to the State.
The case had been closely followed given its implications for financial accountability, regulatory oversight, and corporate governance within Ghana’s financial services sector.
