Daniel Ofori: Renowned Ghanaian Businessman Wins Supreme Court Case Against Ecobank
- Daniel Ofori has won a major Supreme Court case against Ecobank Ghana, ending a long-standing legal dispute over a failed investment
- The court upheld earlier rulings, confirming he is entitled to significant compensation, including 30 per cent monthly compounded interest over
- Ecobank has also been ordered to pay GH¢50,000 in costs, with further interest accruing until the full amount is settled
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A prominent Ghanaian businessman, Daniel Ofori, has emerged successful in a long-running legal battle against Ecobank Ghana.
The Supreme Court has dismissed an application by the financial institution that sought to overturn a previous judgment issued in Ofori's favour.
Source: UGC
According to a report sighted on GhanaWeb, the apex court’s decision, delivered on Wednesday, May 6, 2025, puts an end to the bank's attempts to challenge an entry of judgment related to a decade-old investment dispute.
The ruling confirms that the businessman is entitled to substantial financial compensation following the Ecobank’s failure to meet its obligations.
Court affirms interest rates on investment debt
Central to the court's findings was the validation of the interest accrued on the original investment.
The Supreme Court affirmed that Daniel Ofori is entitled to a monthly compounded interest rate of 30 per cent.
This calculation spans from June 2, 2008, the date the initial investment was made, until July 25, 2018, when the court first ruled in his favour.
Furthermore, the panel decreed that a post-judgment interest rate of 13.5 per cent will continue to apply until the debt is settled in full.
The judicial panel, which noted that a detailed explanation of the reasoning behind the verdict would be provided within seven days, also imposed a financial penalty on the bank.
Ecobank Ghana has been ordered to pay GH¢50,000 in costs to Daniel Ofori.
During the proceedings, Ofori was represented by a legal team led by the distinguished lawyer Tsatsu Tsikata, supported by Nana Boakye Mensah-Bonsu and Prince Noel Danquah.
Ecobank’s defence was spearheaded by Ace Anan Ankomah, alongside Daad Akwesi and Ebo Dantse Benjamin.
Supreme Court awards GH¢800,000 to bar owner
Meanwhile, YEN.com.gh reported earlier that the Supreme Court had awarded GH¢800,000 in compensation to Yaw Appiah, a drinking bar owner who was wrongfully imprisoned for 19 years.
Appiah was initially convicted in 2011 for an alleged robbery but was later acquitted and discharged by the Court of Appeal.
The ruling, delivered on 10 February 2026, described his conviction and sentencing as a “tragedy” and followed an application for compensation.
Source: YEN.com.gh
