• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, October 1, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ecobank Lied About Pending Application before the Supreme Court- Lawyer

Stephen M.Cby Stephen M.C
December 6, 2021
Reading Time: 4 mins read
Stephen M.Cby Stephen M.C
in Banking
0
Ecobank Lied About Pending Application before the Supreme Court- Lawyer

Mr Thaddeus Sory, Counsel for Mr Ofori

Mr Thaddeus Sory, a lawyer for Mr. Daniel Ofori, an Investor who is in legal battle with Ecobank Ghana, has berated the bank, noting that it has no application pending before the Supreme Court to reopen the matter, as suggested by the Bank in a media release.

In a statement issued in Accra by the Counsel for Mr Ofori, in reaction to a media release by the Bank, Mr Sory indicated that the only application filed by Ecobank recently was for review of the Supreme Court’s decision refusing Ecobank’s earlier application to reopen the decision of the Court on appeal in 2018 with the introduction of “new evidence”.

He opined that this was because, Ecobank failed to comply with the Rules of the Supreme Court and the previous order of the Court in filing the processes.

RelatedPosts

Cross-Border Payments in Minutes: Blockchain Touted as Africa’s Game-Changer at DASA 2025

ADB Boss Hails Akuapem Rural Bank for Empowering Over 5,000 Women with GH¢60m Loans

Government, et.al Unite to Reset Development Bank Ghana After Explosive Audit Report

Mr Thaddeus Sory noted after the statement by Ecobank, he wrote to the Registrar of the Supreme Court on November 21, 2021 and obtained confirmation that there was no pending application for a stay of execution in the Supreme Court before Mr Ofori proceeded to have the Fieri Facias (Fi-Fa) notice pasted on the Head Office Building of Ecobank.

According to the lawyer, the earlier garnishee proceedings referred to in the media release of Ecobank was a different kind of enforcement process from the Fi-Fa that is currently being pursued by him [counsel for the Mr Ofori] on behalf of Mr. Ofori.

Mr Sory emphasized that following a writ of Fi-Fa, which Mr Ofori caused to be issued against the Bank for its failure to pay the sum of GHS96, 304,972.41 ordered by the Supreme Court, was based on the bank’s own admission at a hearing on June 1, 2021.

The statement continued that, “after the pasting by a court bailiff of the Fi-Fa on the Head Office building of Ecobank on Friday, November 26, 2021, Ecobank issued a media release in which they made false and libellous allegations against Mr. Ofori.”

Supposed New Evidence by Ecobank

Mr Sory clarified that it was simply not true that Mr. Ofori tendered in evidence of the investment agreement between Ecobank and himself at any stage in the case.

He stated that the truth, as the Court records and the judgment of the Supreme Court dated, July 25, 2018, confirmed, was that Ecobank itself admitted that the agreed interest rate on the investment made by Mr. Ofori with Ecobank was 30 per cent. “The judgment of the Supreme Court was therefore based on this admission,” he added.

The Lawyer suggested that having regard to the fact that the Supreme Court judgment was based on Ecobank’s own admission, it clearly did not make sense to suggest that Mr. Ofori had forged an investment agreement to prove his case against Ecobank.

The Counsel averred that after the judgment of the Supreme Court, Ecobank surfaced with a document it described as the investment agreement in which was inserted in the figure 15 as the percentage for interest on the investment, which was not the case.

“This is completely at variance with the 30 per cent Ecobank has admitted to. It is Ecobank which has an interest in contradicting its earlier admission by seeking belatedly to introduce a document in which an interest rate of 15 per cent is being put forward three years after the judgment of the Court and even after the failure of the application for review in March 2021.

“It is, indeed, worthy of note that Ecobank tried at least three times without success to have the Court take into account their document with 15 per cent. Ecobank, having failed to get a Court order for this, has apparently, by itself, taken a document for forensic examination and makes libellous accusations against Mr. Ofori by reference to this.”

Mr Sory

The Counsel concluded that, it was a matter of grave concern that after the Court official pasted the Fi-Fa notice on the Ecobank Building following Ecobank failure to make the payment ordered by the Court, a member of Ecobank staff removed the notice, showing contempt for lawful Court process.

Mr Sory, thus, urged Ecobank not to take the law into its own hands.

READ ALSO: IMF Approves $1.4 Billion For Zambia To Restore Macroeconomic Stability

Tags: EcobankMr Daniel OforiMr Thaddeus Sory
Please login to join discussion
Previous Post

Ghana’s Health Minister Lauds Gavi’s Investment In First Malaria Vaccine

Next Post

GOIL To Commence Reducing Fuel Prices- Abbas Imoro

[mc4wp_form id="1264"]

Related Posts

President John Dramani Mahama
General News

Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal

October 1, 2025
President John Dramani Mahama
General News

Mahama Commissions New Ambassadors, Demands High Standards of Service

October 1, 2025
Vance Signals US Indifference To India-Pakistan Conflict
USA

Vance Warns Of Layoffs If Shutdown Drags On

October 1, 2025
Vendor Engagement Seminar
Extractives/Energy

GNPC Hosts Maiden Vendor Engagement to Boost Local Content 

October 1, 2025
AI Apps to Transform Senior High School Education
General News

AI Apps to Transform Senior High School Education

October 1, 2025
Morocco Youth Protests Escalate Into Nationwide Unrest
Africa

Morocco Youth Protests Escalate Into Nationwide Unrest

October 1, 2025
President John Dramani Mahama
General News

Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal

by Evans Junior OwuOctober 1, 2025
President John Dramani Mahama
General News

Mahama Commissions New Ambassadors, Demands High Standards of Service

by Evans Junior OwuOctober 1, 2025
Vance Signals US Indifference To India-Pakistan Conflict
USA

Vance Warns Of Layoffs If Shutdown Drags On

by Comfort AmpomaaOctober 1, 2025
Vendor Engagement Seminar
Extractives/Energy

GNPC Hosts Maiden Vendor Engagement to Boost Local Content 

by Prince AgyapongOctober 1, 2025
AI Apps to Transform Senior High School Education
General News

AI Apps to Transform Senior High School Education

by Silas Kafui AssemOctober 1, 2025
Morocco Youth Protests Escalate Into Nationwide Unrest
Africa

Morocco Youth Protests Escalate Into Nationwide Unrest

by Lawrence AnkutseOctober 1, 2025
President John Dramani Mahama
President John Dramani Mahama
Vance Signals US Indifference To India-Pakistan Conflict
Vendor Engagement Seminar
AI Apps to Transform Senior High School Education
Morocco Youth Protests Escalate Into Nationwide Unrest
[/vc_row_inner]

Recent News

  • Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal
  • Mahama Commissions New Ambassadors, Demands High Standards of Service
  • Vance Warns Of Layoffs If Shutdown Drags On
  • GNPC Hosts Maiden Vendor Engagement to Boost Local Content 
  • AI Apps to Transform Senior High School Education
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.