Woyome owes defunct UT Bank GH¢9m

Mr Alfred  Woyome

Mr Alfred Woyome

It emerged at the Supreme Court (SC) yesterday that businessman, Alfred Agbesi Woyome, still owe the defunct UT Bank more than GH¢9 million, being a loan he contracted.


The issue has, therefore, been referred to an External Solicitor to vigorously pursue the recovery of the amount.


Mr. Eric Nana Nipa, National Director of Price Waterhouse Coopers and one of the Joint Receivers of the bank, revealed this when he mounted the dock as a witness to give evidence regarding some properties the moribund financial institution (UT Bank) had bought from Mr. Woyome.


These are two residential properties, plot number 260 and plot number 267 at the Trassacco Valley, in Accra.


The Attorney-General’s (A-G) Department has vowed to leave no stone unturned to recover the GH¢51.2 million the businessman unconstitutionally collected from the state as judgement debt.

It was two per cent (2%) Commission to be paid to him for undertaking financial engineering from Bank Austria towards the rehabilitation and construction of some stadia in the country for the hosting of Africa Cup of Nations (CAN) 2008.


Mr. Woyome has so far paid GH¢4.6 million as part-payment to the state through the AG’s Department.


The witness, Mr. Nipa, maintained during cross-examination by the Deputy Attorney-General, Mr. Godfred Yeboah Dame, that the residential properties previously belonged to Mr. Woyome, but have now been owned by the defunct bank, even though the process of transferring the houses from the Judgement Debtor (Mr. Woyome) to UT bank had not been completed.


Mr. Yeboah-Dam: “My Lord, the witness has not produced any documents showing the transfer of the properties from Mr. Woyome to UT Bank.

Mr. Nipa: “Yes my Lord, but the Land Title Certificate is enough evidence.

Mr. Yeboah Dame: “Are you aware that Mr. Martin Amidu started the case against Mr. Woyome in June 2012 but the date on the Land Title Certificate is 12th July, 2013?.”

Mr. Nipa: “I am aware that the initiated the case but I don’t know when he did it.”

The Deputy Attorney-General told the witness that Mr. Woyome used the two properties at Trassacco Valley as mortgage for a loan at UT bank in 2014, but Mr. Nipa (witness) rebutted the claim and said: “they are entirely for different transactions and UT which now owns the property will not use its assets as Security.”


Not convinced by Mr. Nipa’s answers, the Deputy Attorney-General asked him if he could point out Mr. Woyome’s properties at the Trassacco Valley, but he replied that he did not know any except plot number 260 and plot number 267, which had been acquired by UT bank, stressing that anything beyond that would be speculative.


Mr. Yeboah-Dame said that when the State went to value Mr. Woyome’s properties as at September 2017, he (Woyome) was still occupying them.


But, the witness said that when the receivers were appointed in August 14, 2017, the properties were vacant while the keys were at the UT office and are still there.


According to the Deputy Attorney-General, Mr. Nipa’s evidence was false and a deliberate attempt to prevent the State from selling Mr. Woyome’s properties to defray his debt.


Mr. Nipa: “My Lord, the testimony I have given is absolutely true.”


The Judge, Mr. Justice Anthony A. Benin adjourned the case to Friday, October 26, 2018, for continuation of the cross-examination of the witness.

By Castro Zangina-Tong    


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