FIC UNFREEZES BANK ACCOUNTS OF MCDAN AND NII ARMAH-QUAYE AFTER PROBE

The Financial Intelligence Centre (FIC) has unfrozen the bank accounts of prominent Ghanaian businessmen Daniel McKorley (McDan) and Richard Nii Armah-Quaye, concluding a detailed investigation that found no evidence of financial misconduct or criminal activity.

The decision was confirmed by FIC CEO Kwadwo Twum Boafo during an interview with GHOne television on October 29, 2025. He emphasized that the investigations were conducted fairly and without personal or political motives.

“McDan’s issue has been resolved. That is why I keep saying we don’t do personal vendettas. You can speak with him… His accounts are unfrozen. The accounts of Richard Nii Armah-Quaye were frozen, but they have been unfrozen now because there was a determination that there was no need for it to go forward,” Ing. Twum Boafo stated.

He highlighted that both businessmen cooperated fully with investigators, providing thorough explanations of their financial activities that satisfied the FIC and partner agencies. “He came here, sat down with us and gave us a thorough explanation of what he does and there was no problem. Like I said, we deal with people fairly and I don’t have a personal vendetta against anyone,” the FIC CEO added.

Twum Boafo reiterated that the Centre’s mandate is to safeguard Ghana’s financial system from abuse through evidence-based processes, not to target individuals. The unfreezing of the accounts underscores Ghana’s ongoing efforts to strengthen its anti-money laundering framework while ensuring transparency and fairness in financial oversight.

Source:NKONKONSA.com