Monday, 02 June

Exim Bank drags Chairman Wontumi to court over $10 million loan dispute

Business
Exim Bank sues Wotumi

The Export-Import (Exim) Bank of Ghana has filed a civil lawsuit against Bernard Antwi Bosiako, popularly known as Chairman Wontumi, over an alleged unpaid loan reported to be worth $10 million.

Chairman Wontumi, who serves as the Ashanti Regional Chairman of the New Patriotic Party (NPP), is accused of failing to repay a loan reportedly secured for a large-scale maize farming project.

Unofficial sources suggest that the project was abandoned, raising concerns about accountability in the use of state-backed agricultural financing.

The legal action was confirmed by Wontumi’s lawyer, Andy Appiah Kubi, who said his client had received the writ and would respond in due course.

He declined to go into details but emphasised that the case is a civil matter, not a criminal one.

“We have received the writ and will respond accordingly.

The fact that Exim Bank has opted for a civil suit reinforces our view that this is not a criminal case,” Appiah Kubi told journalists during a media briefing, which also addressed Wontumi’s recent arrest by the Economic and Organised Crime Office (EOCO).

 

The case has sparked broader conversations about loan recovery and financial discipline in Ghana’s agricultural sector.

Legal analysts say the civil nature of the lawsuit indicates the bank’s priority is debt recovery rather than criminal prosecution, though the case may shape public perceptions regarding how powerful individuals are held accountable for defaulting on state-backed loans.

Source: Classfmonline.com/Cecil Mensah