Attorney General’s Decision on Unibank Defense
Kwame Akafo, a legal expert, has backed the Attorney General’s choice to cease the prosecution of Unibank, suggesting that this decision ultimately benefits the state.
In a recent interview with Joynews’ NewsFile on August 2, Akafo conveyed that the introduction of Nolle Prosequi signifies a resolution that is practical rather than an escape from accountability.
While some critics voice opposition to this move, Akafo believes it will enable the recovery of critical assets from the bank’s ex-owners. Long-drawn court battles, he suggests, could diminish value, leading to increased legal expenses and asset depreciation.
He remarked, “The state has secured a significant deal with this decision. The alternative risks further losses from the withdrawn exams and depreciation of assets.”
Akafo also refuted the commonly expressed notion that the Attorney General has only managed to recover 10% of its owed debts. Instead, he pointed out that the Attorney General’s Office asserts that approximately 60% of the total exposure has been recouped via asset transfers.
Although some skeptics challenge this figure, certain analysts propose that the recovery might be as high as 21% of the debt. Nonetheless, Akafo is confident that this arrangement will lead to a resolution and swift returns.
He acknowledged that discussions around transparency and evaluation continue but underscored the need to find a balance between justice and effective outcomes.
Additionally, Akafo dismissed the idea that the Attorney General acted inappropriately, maintaining that the decision aligns with legal discretion and public interest.
He responded to calls for further investigation by cautioning against politicizing prosecutorial decisions, as doing so could jeopardize future revenues from stalled negotiations.
“We shouldn’t let rhetoric and speculation compromise what is legally and financially sound,” he concluded, emphasizing the importance of focusing on recovery outcomes rather than procedural disputes.
