A long-running legal dispute between Ecobank Ghana and businessman Daniel Ofori has finally been settled, with the Supreme Court ruling decisively in favour of Ofori.
According to a report, the apex court’s decision, delivered on Wednesday, May 6, 2025, brings an end to Ecobank’s prolonged attempts to challenge an earlier judgment tied to a decade-old investment dispute. The ruling affirms that Ofori is entitled to substantial financial compensation following the bank’s failure to honour its investment obligations.
Central to the court’s findings was the validation of the interest accrued on the original investment. The Supreme Court confirmed that Ofori is entitled to a monthly compounded interest rate of 30 percent, calculated from June 2, 2008—the date the initial investment was made—through to July 25, 2018, when the court first ruled in his favour.
In addition, the court ordered that a post-judgment interest rate of 13.5 percent will continue to apply until the full amount owed is paid.
The panel indicated that a detailed explanation of the judgment would be provided within seven days. It also imposed a financial penalty on Ecobank, ordering the bank to pay GH¢50,000 in legal costs to Ofori.
During the proceedings, Ofori was represented by a legal team led by prominent lawyer Tsatsu Tsikata, with support from Nana Boakye Mensah-Bonsu and Prince Noel Danquah. Ecobank’s defence team was led by Ace Anan Ankomah, alongside Daad Akwesi and Ebo Dantse Benjamin.
The ruling marks a significant victory for Ofori, closing one of the most protracted investment disputes in recent years and reinforcing the authority of the courts in enforcing financial obligations.
In a separate development, the Supreme Court recently awarded GH¢800,000 in compensation to Yaw Appiah, a bar owner who was wrongfully imprisoned for 19 years. The court described his conviction as a “tragedy” after he was acquitted and discharged, underscoring ongoing efforts to address miscarriages of justice.
