I still have confidence in my son despite the collapse of uniBank – Dr Kwabena Duffuor

Former Finance Minister, Dr Kwabena Duffuor, has said he still has confidence in his son despite the collapse of the uniBank.

According to him, he sees nothing wrong with what his son did as the manager of uniBank.

“I still have confidence in my son, who was running the business. He was a banker

Read full articlefor a very long time; there was nothing wrong about what my son did,” he said.

In an interview with TV3, he said he had no business with the management of unibank, which collapsed during the financial sector clean-up exercise undertaken by the Bank of Ghana (BoG).

“I was not on the board; I was out of management. I had put in place blind trust and all my companies were being managed by a board of trustees, I was not managing any of these companies. As we speak now the case is in court,” he said.

uniBank’s license was revoked during the banking sector clean-up which commenced in 2017, after the apex bank had explained that the financial institution was significantly undercapitalized.

The Bank of Ghana had claimed that shareholders of uniBank used monies from the bank to acquire estate properties in their own names.

According to the central bank, “uniBank’s shareholders and related parties admitted to acquiring real estate properties in their own names using the funds from the bank under questionable circumstances.”

uniBank was merged with four other banks to form Consolidated Bank Ghana Limited.

YNA/OGB