Dr. Kwadjo Ayisi-Ahwireng, a well-known medical doctor based in Accra, is vehemently contesting his inclusion in the ongoing civil litigation involving former directors and shareholders of the now-collapsed Capital Bank, insisting that he neither held shares nor played any role in the management or operations of the institution.
The case, brought forward by the official liquidator of Capital Bank, names Dr. Ayisi-Ahwireng as one of 15 defendants alleged to have breached fiduciary responsibilities and contributed to the financial collapse of the bank, which was taken over by the Bank of Ghana in 2017 as part of a wider cleanup of the financial sector.
As part of the claims, Dr. Ayisi-Ahwireng is being asked to repay GH¢4.1 million, which the liquidator has labeled a “shareholder loan,” plus accrued interest. However, Dr. Ayisi-Ahwireng has categorically denied any legal or factual basis for his inclusion in the suit, and is demanding his immediate removal from the case.
In an exclusive interview with Eastern FM 105.1 MHz, Dr. Ayisi-Ahwireng expressed deep concern and disbelief over what he described as a false and unjust attempt to implicate him in a financial scandal with which he has no connection.
“There is no credible evidence to justify why I have been named in this suit,” he stated firmly. “I have never been a shareholder. I have never been a director. I never received any benefit, any money, or held any position within Capital Bank.”
Alleged Forgery of Share Agreement
At the heart of the liquidator’s case is a purported share transfer agreement, which alleges that Dr. Ayisi-Ahwireng acquired over 330,000 shares in Capital Bank for an amount of GH¢5 million. The document is said to have been signed between him and William Ato Essien, the bank’s former Chief Executive Officer, who was convicted in 2022 for embezzling more than GH¢90 million from the institution.
However, Dr. Ayisi-Ahwireng has denounced the document as fraudulent and maintained that the signature attributed to him is forged.
“Yes, the signature resembles mine, but it is not mine. I did not sign that document. I never entered into any such agreement with Ato Essien or anyone else. The entire thing is fabricated,” he asserted.
He further revealed that no evidence of payment, receipts, or bank records has been presented to support the claim that he paid GH¢5 million for shares in Capital Bank.
“If I bought shares, where is the proof of payment? Where is the receipt? Where is the acknowledgment from the bank or the Bank of Ghana?” he questioned. “This so-called agreement is a self-serving piece of fiction created by someone with a lot to hide.”
Regulatory and Legal Oversight Ignored
Dr. Ayisi-Ahwireng also highlighted that no official processes or documentation exist to show he was ever recognized as a shareholder or director by the Bank of Ghana or the Registrar of Companies.
“I was never vetted. I was never notified by any regulatory body. My name does not appear on any shareholder registry. I have no account with Capital Bank, and I never took a loan from the bank,” he emphasized during the Eastern FM 105.1 MHz interview.
His legal counsel, Kofi Bentil, a respected constitutional lawyer and partner at law firm Bentil, Laryea & Co., has described the inclusion of his client in the lawsuit as a “gross miscarriage of justice.”
“There is no lawful basis for this. The regulators have not done their due diligence. Instead, they have relied on the word of a convicted fraudster, who clearly has motive to manipulate records and mislead authorities in order to obscure the real flow of funds,” Bentil said.
He stressed that the burden of proof lies with the liquidator and the Bank of Ghana, who have failed to establish any legitimate link between Dr. Ayisi-Ahwireng and Capital Bank.
“It is not the job of the liquidator to make wild accusations without evidence. And it is certainly not the role of the Bank of Ghana to perpetuate this injustice by accepting falsified documents,” Bentil added.
Personal and Professional Fallout
Beyond the legal battle, Dr. Ayisi-Ahwireng opened up about the immense toll the case has taken on his personal life and professional reputation.
“For the past seven years, I have lived under a cloud of suspicion. I’ve lost business opportunities, especially with pharmaceutical suppliers and partners in the United States and the United Kingdom who have backed away simply because of this association,” he lamented.
He described the ongoing ordeal as one of emotional trauma, reputational damage, and financial loss, especially for someone who has dedicated his life to serving the public in the medical field.
“This has been seven years of unwarranted stress for me, my family, and my career. I had nothing to do with Capital Bank. My only relationship with Ato Essien was on a personal level—we knew each other from church and shared spiritual interests. That was all,” he emphasized.
Background on Capital Bank Collapse
Capital Bank was one of several financial institutions shut down by the Bank of Ghana during the 2017-2019 financial sector reforms aimed at addressing insolvency, weak governance, and regulatory breaches. Its collapse was attributed largely to gross mismanagement, misappropriation of funds, and insider dealings—many of which have been linked to its former CEO, William Ato Essien.
Essien was convicted in 2022 for stealing over GH¢90 million from the bank. Although he initially avoided jail time by agreeing to repay the stolen funds, he failed to deliver the remaining GH¢53 million, leading to his incarceration. He is currently out on bail pending an appeal.
Dr. Ayisi-Ahwireng’s continued inclusion in the case, despite mounting evidence of his innocence, has sparked concerns over procedural fairness and accountability in how such high-profile financial scandals are investigated and prosecuted.
As the case unfolds, Eastern FM 105.1 MHz will continue to follow the story closely, providing updates and insights into what could become a landmark legal decision concerning individual rights and the responsibilities of financial regulators in post-collapse accountability processes.
STORY BY: KENNEDY AMPONSAH NTI
EASTERN FM 105.1 MHZ
NEWSROOM
