Baffour Awuah’s EOCO case reopens Equity Savings & Loans file as SIC recovery battle emerges
According to the MP, the investigation is connected to legal work his firm carried out for SIC Life Savings and Loans Company Limited in an attempt to recover millions of cedis from Equity Savings and Loans.
A recent court case involving Manhyia South Member of Parliament Nana Agyei Baffour Awuah has reignited interest in the troubled Equity Savings and Loans Limited. During his appearance at the Accra High Court on September 23, 2026, Baffour Awuah revealed that his former law firm, Sarkodie Baffour Awuah & Partners, was involved in a legal battle with Equity Savings and Loans to recover millions of cedis.
The dispute stemmed from SIC Life Savings and Loans Company Limited's investment of approximately GH¢3.5 million in Equity Savings and Loans, which defaulted on its payments. The lawyers then sued Equity, securing a summary judgment in their favor. However, enforcing the judgment proved challenging as they struggled to identify assets belonging to Equity for seizure.
After two years of effort, the lawyers received information that Equity had land at Oyibi, which could be attached to satisfy the judgment. SIC savings and loans eventually accepted a negotiated settlement of approximately GH¢8 million, which included lawyers' fees and payments already made. This revelation is significant as Equity Savings and Loans had already been under scrutiny due to customer complaints about difficulty accessing their deposited funds and closed branches.
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