The Financial Intelligence Centre (FIC) has officially cleared Ghanaian businessmen Daniel McKorley, popularly known as McDan, and Richard Nii Armah-Quaye of any wrongdoing after months of investigation into their financial dealings.
Their bank accounts, which had been frozen during an inter-agency probe into alleged financial irregularities, have now been fully restored.
FIC Chief Executive Officer Kwadwo Twum Boafo, according to a Graphic Online report, confirmed the development in an interview with GHOne Television on October 29, 2025, noting that investigators found no evidence of financial misconduct or criminal activity.
“McDan’s issue has been resolved. That is why I keep saying we don’t do personal vendettas. You can speak with him… His accounts are unfrozen. The accounts of Richard Nii Armah-Quaye were frozen, but they have been unfrozen now because there was a determination that there was no need for it to go forward,” Ing. Twum Boafo said.
He added that both businessmen fully cooperated during the process, allowing investigators to verify the legitimacy of their transactions and business operations.
“He came here, sat down with us and gave us a thorough explanation of what he does and there was no problem. Like I said, we deal with people fairly and I don’t have a personal vendetta against anyone,” he explained.
Mr. Twum Boafo reiterated that the FIC’s actions are guided solely by evidence and due process, not by politics or personal bias.
He emphasized that the agency’s core mission is to protect Ghana’s financial system from potential abuse and strengthen confidence in the country’s anti-money laundering regime.
The FIC boss further encouraged Ghanaians to trust state institutions, assuring that every investigation is conducted impartially and based on facts, not speculation or external pressure.
