By Love Wilhelmina Abanonave
Ghana’s Minister for Justice and Attorney General, Dr Dominic Ayine, has said the Ghana Export-Import (Exim) Bank cannot be held criminally liable for granting a loan to Bernard Antwi Boasiako, popularly known as Chairman Wontumi, based on alleged misrepresentations.
“We therefore cannot hold the bank responsible for criminal liability, but can only say it should have exercised due diligence to ensure that this did not happen,” he said.
Dr Ayine was speaking to the media on Tuesday during the Government Accountability Series at the Presidency.
He explained that any potential criminal liability rests with Chairman Wontumi, who is alleged to have made fraudulent representations to secure the loan from Exim Bank.
According to the Attorney General, a financial institution does not commit a criminal offence simply by relying on information that later turns out to be false.
“A bank has not necessarily committed an offence by relying on misrepresented facts to grant a loan. You can have a fraudulent misrepresentation that borders on criminality and can lead to prosecution for defrauding by false pretences. In such a case, the bank has no hand in it if the person requesting the loan made false representations,” he said.
Dr Ayine stressed that while Exim Bank may have been negligent in conducting adequate due diligence, negligence alone does not amount to criminal responsibility.
The comments follow allegations that Wontumi Farms Limited, linked to Chairman Wontumi, secured a GH¢4 million facility from Exim Bank using forged documents presented as proof of payment for farming and industrial equipment.
However, investigations are said to have established that no such equipment was purchased, with the funds allegedly diverted to support illegal mining, commonly known as galamsey.
