Wontumi asks court to treat GH¢18m Exim Bank loan dispute as civil case

Former New Patriotic Party (NPP) Ashanti Regional Chairman Bernard Antwi Boasiako, popularly known as Chairman Wontumi, and Wontumi Farms have petitioned the High Court to prevent a loan dispute involving Ghana Exim Bank from being treated as a criminal matter, arguing that it should instead be resolved through civil proceedings.

The plaintiffs have sued Ghana Exim Bank, the Economic and Organised Crime Office (EOCO) and the Attorney General following criminal proceedings over alleged offences, including defrauding by false pretences, uttering a forged document, money laundering and intentionally causing financial loss to the state.

In a statement of claim filed by their lawyer, Samuel Atta-Akyea, they argue that the dispute concerns the recovery of a loan exceeding GH¢18 million, which was granted to finance an agricultural project.

They accuse EOCO of exceeding its authority by acting as a debt recovery agency and maintain that the disagreement should be treated as a contractual dispute rather than a criminal case.

According to the plaintiffs, a 10,000-acre parcel of land owned by Wontumi Farms was provided as collateral for the loan, while Chairman Wontumi personally guaranteed repayment in the event of the farm’s default. They further claim that Ghana Exim Bank undertook to secure insurance coverage for the facility.

The statement of claim indicates that the farming project suffered substantial losses after four rivers surrounding the property overflowed their banks, flooding the farmland.

The plaintiffs say the bank was notified of the damage and allegedly assured them that it would activate the insurance arrangement to help settle the outstanding debt.

They deny securing the loan through deception or engaging in any criminal activity in connection with the facility.

They are asking the court to declare the matter a civil debt dispute, compel Ghana Exim Bank to provide a detailed account of the outstanding amount and direct the bank to recover the debt through the mortgage, Chairman Wontumi’s personal guarantee or the insurance cover they claim was arranged for the loan.