Amid the fresh judgment against Ecobank Ghana PLC, the bank has moved swiftly to reassure customers, investors, and the general public that its financial position remains “strong and resilient”.
The bank says that despite the recent Supreme Court defeat in the long-running legal dispute involving businessman Daniel Ofori, it is still financially sound.
In a media statement issued on May 16, 2026, the bank said it was aware of the court ruling regarding claims against the institution and emphasized that it remains committed to upholding the rule of law and respecting the judicial process.
The Pan-African bank says the judgement will not affect the operations and resilience of the bank.
“Ecobank Ghana PLC is aware of the recent court ruling in respect of claims on the Bank. As a responsible institution, Ecobank Ghana PLC respects the judicial process and will continue to uphold the rule,” the bank says.
It added, “We wish to reassure our customers that the Bank’s financial position remains strong and resilient and our services continue without disruption.”
The assurance comes amid growing public discussion over the possible financial implications of the judgment, which has drawn significant attention within Ghana’s banking and legal sectors due to the potentially substantial liability involved.
The case, which has spanned nearly two decades, stems from a disputed 2008 transaction involving shares and settlement obligations linked to Ecobank and Daniel Ofori. In its latest ruling, the Supreme Court reportedly upheld earlier decisions in favour of Ofori, including interest-related claims that could significantly increase the total financial exposure of the bank.
Despite concerns surrounding the scale of the judgment, Ecobank’s latest communication appears aimed at calming fears over the stability of its operations and preserving public confidence in the institution.
The bank stressed that its operations remain uninterrupted and signaled confidence in its capacity to withstand the implications of the ruling while continuing to serve customers across the country.
The issues began in 2008 when Daniel Ofori sold about GHC 14 million worth of CAL Bank shares to William Oppong Bio. The transaction is said to have been handled by Databank Brokerage, and Ecobank acted as the settlement bank. A payment problem arose after the transfer as Ecobank failed to complete the payment after the regulator, the Bank of Ghana, raised concerns over the transaction.
Daniel Ofori sued Ecobank, claiming the shares had already been sold and transferred, and therefore, he deserved payment at the agreed interest rate. However, Ecobank fought back, insisting the transaction became problematic following the regulatory concerns. It further cited document inconsistencies, adding that Daniel Ofori was still receiving dividends on the supposedly sold shares.
After the back and forth at the High Court, the Appeals Court, and the Supreme Court for a period of 18 years, the court delivered the final judgement recently, upholding that Daniel Ofori is entitled to the compounded 30% interest. Analysts explain that the 30% interest agreed by the court, when compounded over many years, grows the liability exponentially.
Ecobank Ghana is one of Ghana’s largest commercial banks and forms part of Ecobank Transnational Incorporated, the pan-African banking group operating across more than 30 African countries.
