Ecobank Ghana assures customers stability despite court ruling

By: Godbless Asaana
The Ecobank Ghana has reassured its customers of its strong financial position in a media release on May 16 2026 following Supreme Court setback in its long-running legal battle with businessman Daniel Ofori.

In the release, the bank sought to calm all fears among customers by emphasizing that its operation remains unaffected.

“We wish to reassure our customers that the Bank’s financial position remains strong and resilient and our services continue without disruption,” the statement noted.

The bank also states that the court ruling is highly recognized and its loyalty to judicial is not doubtful.

“As a responsible financial institution, Ecobank Ghana PLC respects the judicial process and will continue to uphold the rule of law,” the bank stated

The assurance follows a major legal victory for Daniel Ofori after the Supreme Court of Ghana dismissed Ecobank’s latest attempt to overturn an earlier judgment in his favour in a dispute linked to a 2008 investment transaction.

In its ruling delivered on May 6, 2025, the apex court reaffirmed that Mr. Ofori is entitled to 30 percent monthly compounded interest on an investment amount of GH¢6.16 million from June 2, 2008, to July 25, 2018 — the date of the court’s original judgment.

The court also ordered the bank to pay post-judgment interest at 13.5 percent per annum until the debt is fully settled, in addition to GH¢50,000 in legal costs awarded to Mr. Ofori.

The case originates from a disputed share transaction involving CAL Bank PLC shares nearly two decades ago.

The latest ruling effectively reinforces earlier Supreme Court decisions in favour of Mr. Ofori and closes another chapter in a prolonged legal battle that has gone through multiple hearings, reviews, and applications since the initial judgment in 2018.

In earlier proceedings, the court clarified that the 30 percent compound interest must first be applied up to the 2018 judgment date, after which the statutory post-judgment interest would apply to the full judgment debt until final payment.

Despite the ruling, Ecobank said that all banking services across its branches and digital platforms remain fully operational, with no disruption to customer transactions.

Source: Citi Newsroom