Bernard Antwi Boasiako sues to declare GH₵18m Exim Bank dispute a civil matter

NPP Ashanti Regional Chairman Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has filed a lawsuit at the High Court seeking to reclassify a GH‵18 million loan dispute with the Ghana Export-Import (EXIM) Bank. Alongside his company, Wontumi Farms, the businessman is challenging the state's characterization of the debt as a criminal matter involving allegations of fraud, money laundering, and causing financial loss. The plaintiffs are asking the court for a declaration that the dispute is strictly a civil issue arising from a legitimate commercial transaction.

According to the writ, the GH‵18 million loan was obtained for a large-scale farming project and was secured by sufficient collateral, including land and personal guarantees provided by Boasiako. The plaintiffs contend that the credit facility was a transparent business deal and that any failure to meet repayment obligations should be addressed through standard civil debt recovery processes. They argue that the current criminal charges are mischaracterizations of what is essentially a contractual debt issue.

The legal team for Boasiako and Wontumi Farms asserts that using the criminal justice system to resolve a business loan default is inappropriate. They are seeking a court order to direct the Ghana Exim Bank to recover the loan through established civil agreements rather than through criminal prosecution. The suit emphasizes that the transaction followed legal protocols for agricultural financing and that the state's intervention via criminal charges lacks a proper basis in commercial law.

This legal challenge comes as the state maintains a firm stance on recovering debts owed to public financial institutions. The outcome of this case could set a significant precedent for the distinction between corporate loan defaults and criminal financial misconduct in Ghana. The High Court is expected to hear the application in the coming weeks to determine whether the matter will proceed as a criminal trial or be relegated to the civil division for debt settlement.