• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 23, 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

M.Cby M.C
December 6, 2021
Reading Time: 4 mins read
M.Cby 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

Deputy Governor Hails Ghana’s GH¢3 Trillion Digital Payment Boom

Shock for Shareholders As GCB Suspends Approved Dividend Payment

Ghana’s Banking Sector Loses Nearly GH¢100m to Fraud — BoG Report Reveals

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.

ADVERTISEMENT

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

Subscription Form

Related Posts

Deputy Governor Hails Ghana’s GH¢3 Trillion Digital Payment Boom
Banking

Deputy Governor Hails Ghana’s GH¢3 Trillion Digital Payment Boom

October 23, 2025
Shock for Shareholders As GCB Suspends Approved Dividend Payment
Banking

Shock for Shareholders As GCB Suspends Approved Dividend Payment

October 22, 2025
Ghana’s Banking Sector Loses Nearly GH¢100m to Fraud — BoG Report Reveals
Banking

Ghana’s Banking Sector Loses Nearly GH¢100m to Fraud — BoG Report Reveals

October 21, 2025
Countdown to GH¢100K Grand Prize Begins as Fidelity’s ‘Sika Bumm Reloaded’ Heats Up
Banking

Countdown to GH¢100K Grand Prize Begins as Fidelity’s ‘Sika Bumm Reloaded’ Heats Up

October 20, 2025
Zenith Bank Ghana at 20: CEO Henry Onwuzurigbo Pledges New Era of Innovation and Excellence
Banking

Zenith Bank Ghana at 20: CEO Henry Onwuzurigbo Pledges New Era of Innovation and Excellence

October 19, 2025
BoG Ends UBA’s FX Suspension After Satisfactory Remedial Measures
Banking

BoG Ends UBA’s FX Suspension After Satisfactory Remedial Measures

October 18, 2025
Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs
Economy

Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs

by M.COctober 23, 2025
Accra Mayor Warns Traders Against Paying Unauthorised Fees
General News

Accra Mayor Warns Traders Against Paying Unauthorised Fees

by Silas Kafui AssemOctober 23, 2025
Former Vice President Dr. Mahamudu Bawumia
General News

63 Plus 2 NPP MPs Declare Support for Bawumia’s 2026 Flagbearership Bid

by evansjrOctober 23, 2025
Restoring Water Bodies Remains Priority – Lands Minister
Extractives/Energy

Restoring Water Bodies Remains Priority – Lands Minister

by Bless Banir YarayeOctober 23, 2025
Nana Konadu Agyemang-Rawlings: Trailblazer in Women’s Emancipation — Political Analyst
General News

Nana Konadu Agyemang-Rawlings: Trailblazer in Women’s Emancipation — Political Analyst

by Emmanuel Tibila BoasahOctober 23, 2025
Energy Minister, GECA Collaborate
Extractives/Energy

Energy Minister Engages Electrical Contractors on Safety and Regulatory Reform 

by Prince AgyapongOctober 23, 2025
Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs
Accra Mayor Warns Traders Against Paying Unauthorised Fees
Former Vice President Dr. Mahamudu Bawumia
Restoring Water Bodies Remains Priority – Lands Minister
Nana Konadu Agyemang-Rawlings: Trailblazer in Women’s Emancipation — Political Analyst
Energy Minister, GECA Collaborate

Recent News

Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs

Inflation Pressure Returns: Producer Inflation Creeps to 3.2% as Businesses Battle Rising Input Costs

October 23, 2025
Accra Mayor Warns Traders Against Paying Unauthorised Fees

Accra Mayor Warns Traders Against Paying Unauthorised Fees

October 23, 2025
Former Vice President Dr. Mahamudu Bawumia

63 Plus 2 NPP MPs Declare Support for Bawumia’s 2026 Flagbearership Bid

October 23, 2025
Restoring Water Bodies Remains Priority – Lands Minister

Restoring Water Bodies Remains Priority – Lands Minister

October 23, 2025
Nana Konadu Agyemang-Rawlings: Trailblazer in Women’s Emancipation — Political Analyst

Nana Konadu Agyemang-Rawlings: Trailblazer in Women’s Emancipation — Political Analyst

October 23, 2025
Energy Minister, GECA Collaborate

Energy Minister Engages Electrical Contractors on Safety and Regulatory Reform 

October 23, 2025
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.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address