The Court of Appeal has quashed an application filed by TI Microfinance to challenge the revocation of its license by the Bank of Ghana (BoG).
The ground for striking out the case includes the High Court was in error when it entertained a motion for certiorari by Emmanuel Babuboa, Director of TI Microfinance.
The court, presided over by a three-member panel – Justice Margaret Welbourne, Justice P. Bright Mensah and Justice Novisi Aryene – delivered the judgement on November 23.
As a result, the Court of Appeal set aside the decision of the Human Rights Court, as well as its consequential orders.
This was as the lower court dismissed a legal objection raised by BoG against the competence of the action brought before it.
As a result, BoG took a step further above the High Court to file an appeal to challenge the decision of the lower court.
On this basis, the Court of Appeal quashed the High Court decision, by reason of Section 16(7) of Act 930, during an emergency or in the interest of the public, to revoke the licence of a bank or specialised deposit-taking institution without notice.
Despite recognising the importance of Section 16 of Act 930, which the BoG is required to give notice to the defaulting company before revocation.
“Therefore, the fact that a particular procedure was not adopted did not in itself imply that the rule of natural justice has not been complied with,” it stated.
However, the applicant was seeking a declaration that the decision of BoG to revoke the licence of TI Microfinance without complying with the mandatory requirements of Section 16(3) of Act 930 contravened Articles 23 and 296 of the 1992 Constitution of Ghana renders the said decision null and void and of no legal effect.
He also wanted an order that by revoking the licence of Tl Microfinance without giving notice to it, and the opportunity to be heard, the said revocation by BoG breached the rules of natural justice, specifically, the audi alteram partem rule, hence it was null and void and of no effect.
Similarly, he wanted an order of certiorari to quash the decision of BoG revoking the licence of TI Microfinance.
The applicant prayed for an order directed at BoG to restore the licence of TI Microfinance as well as a prohibition directed at BoG and all its officers, workmen, assigns or privies including the appointed receivers from interfering with the lawful activities of TI Microfinance.