Legal practitioner Kwame Akuffo has defended the Attorney‑General’s decision to discontinue the high-profile UniBank prosecution, insisting that the arrangement ultimately serves the state’s interests.
In an interview on JoyNews’ Newsfile programme on Saturday, August 2, Mr Akuffo argued that the decision to enter a nolle prosequi represents a pragmatic resolution rather than a retreat from accountability.
He observed that while critics have lambasted the move, the agreement facilitates the recovery of significant assets from the bank’s former owners, arguing that prolonged litigation could erode value through escalating legal costs and depreciation.
He stated: “The state has secured a good deal in this decision. The alternative risks losing more in drawn‑out trials and asset depreciation.”
He further decried the widely circulated claim that the AG had recovered only 10 per cent of the liabilities, pointing out that the Attorney‑General’s office insists 60 per cent of the total exposure had already been recovered through asset transfers.
While sceptics dispute the figure—some analysts suggest recoveries may be closer to 21 per cent of liabilities, Mr Akuffo maintained that the arrangement brings closure and immediate returns.
He acknowledged ongoing debate about transparency and valuation, but emphasised the importance of balancing justice with practical results.
Mr Akuffo also dismissed suggestions that the AG had acted improperly, stating that the decision aligns with legal discretion and the public interest.
He challenged calls for further inquiry, arguing that the state must avoid politicising prosecutorial decisions and risking future revenue through stalled negotiations.
“We should not allow rhetoric and speculation to undermine what is legally and fiscally sound,” he concluded, urging focus on recovery outcomes rather than procedural disputes.
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