Thus, with respect to the estoppel created against the Applicant arising from representations made to the public including the Respondent of monthly compound interest on investments; the recommendation of the BoG for annual compound interest calculation, over a decade; we are of the considered view that, that estoppel created against the Applicant substantially outweighs the recommendation of the BoG. In the circumstances, this court is unable to accept the recommendation of the BoG as conclusive of the issue. On the contrary, we hold that, the method of calculating the compound interest on the Respondent’s principal investment sum should be monthly and not annually.
DANIEL OFORI vs. ECOBANK GHANA LTD [2026] SLR (SC) 76 · Supreme Court · 2026 · AMADU JSC
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