After 18 years, Daniel Ofori defeats Ecobank in GH¢6.16m legal battle
After nearly two decades in court, Ghanaian businessman Daniel Ofori has emerged victorious in what is widely regarded as one of Ghana’s longest-running commercial legal disputes, defeating Ecobank Ghana in a case that has lasted 18 years.
In a unanimous decision delivered on May 6, 2026, the Supreme Court of Ghana dismissed Ecobank’s latest attempt to overturn an earlier judgment in favour of Ofori, effectively bringing to a close a legal battle that began in 2008 over a failed multi-million cedi share transaction.
The apex court upheld a previous ruling awarding Ofori 30 percent monthly compounded interest on GH¢6.16 million from June 2, 2008, to July 25, 2018, with an additional 13.5 percent post-judgment interest to continue until full payment is made. The court also awarded GH¢50,000 in legal costs against Ecobank.
The dispute stems from a 2008 CalBank share transaction involving more than 14 million shares, in which Ofori alleged he suffered financial loss after the deal collapsed, triggering years of litigation across Ghana’s judicial system.
Over the years, the case moved through the High Court, Court of Appeal and the Supreme Court, generating multiple rulings, reviews and appeals, and becoming one of the most closely watched commercial legal battles in the country.
Beyond its legal significance, the ruling is expected to carry substantial financial consequences for Ecobank. Although the bank remains one of Ghana’s largest and most resilient financial institutions, the Supreme Court’s decision to uphold 30 percent monthly compounded interest over a 10-year period dramatically increases the value of the award beyond the original GH¢6.16 million. Legal and financial analysts say the final amount payable could run into hundreds of millions of cedis, depending on the court’s final computation, potentially making it one of the costliest commercial judgments in Ghana’s corporate history.
The case also reinforces an enduring lesson in commercial litigation: the longer a dispute remains unresolved, the greater its potential cost. What began in 2008 as a contested share transaction has now evolved into a landmark judicial precedent, likely to be studied for its legal and financial implications across Ghana’s corporate sector.
For Daniel Ofori, the ruling closes an 18-year legal pursuit. For Ecobank, it brings to an end a long-running dispute that has shaped one of the most closely followed commercial cases in the country.
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