The Financial Intelligence Centre (FIC) has lifted the freeze on the bank accounts of Ghanaian businessmen Daniel McKorley, known as McDan, and Richard Nii Armah-Quaye after investigations found no evidence of wrongdoing.
The accounts were initially frozen as part of a broader inter-agency probe into alleged financial irregularities.
After months of scrutiny, the FIC concluded its investigations and restored the businessmen’s full access to their funds.
FIC Chief Executive Officer, Kwadwo Twum Boafo, confirmed the development during an interview on October 29, 2025.
He stated that both cases had been resolved following a detailed review that cleared the men of any criminal or financial misconduct.
“McDan’s issue has been resolved. You can speak with him; his accounts are unfrozen. The accounts of Richard Nii Armah-Quaye were also unfrozen because there was a determination that there was no need for the freeze to continue,” Mr Boafo said.
He added that both individuals cooperated fully with investigators, providing documents and explanations that verified the legitimacy of their financial activities.
“He came here, sat down with us and gave us a thorough explanation of what he does, and there was no problem,” Mr Boafo noted.
The FIC boss stressed that the Centre’s work is guided strictly by evidence and due process, not political motives or personal interests.
He explained that the agency’s mission is to safeguard Ghana’s financial system from abuse while promoting transparency and trust in public institutions.
Mr Boafo encouraged citizens to have confidence in regulatory bodies, assuring that all actions are based on facts rather than speculation.
