Peacefmonline.com can confirm that an Accra High Court, on Wednesday, dismissed the suit filed by Andrew Awuni, challenging the sale of SSNIT’s 90 percent stake in Merchant Bank to to private equity firm, Fortiz.
The Executive Director for the Centre for Freedom and Accuracy had sued the Bank of Ghana, Fortiz, and the Social Security and National Insurance Trust (SSNIT) saying the deal was not in the best interest of contributors to pension scheme.
Mr. Awuni was seeking an injunction to prevent the parties from taking further action to complete the sale, but the court ruled that he lacked the capacity to challenge the deal.
Lawyer for Fortiz, Tony Lithur argued in Court that Mr Awuni had no locus to kick against the Fortiz-Merchant Bank deal.
Meanwhile, lawyer for Mr Awuni, Egbert Faibille Jr. says they will appeal against the ruling.
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