The Financial Intelligence Centre (FIC) has cleared prominent Ghanaian businessmen Daniel McKorley, popularly known as McDan, and Richard Nii Armah-Quaye of any financial misconduct following a thorough investigation into their transactions.
The accounts of both entrepreneurs had previously been frozen as part of a broader inter-agency probe into alleged irregularities. After several months of detailed scrutiny, the FIC has lifted the restrictions, allowing McDan and Nii Armah-Quaye full access to their funds.
The Chief Executive Officer of the FIC, Kwadwo Twum Boafo, confirmed the outcome during an interview with GHOne Television on October 29, 2025. He explained that the investigation found no evidence of criminal activity or financial impropriety on the part of the two businessmen.
According to the FIC, both McDan and Nii Armah-Quaye fully cooperated with investigators, providing clear explanations of their business activities. The review concluded that their financial transactions were legitimate and posed no risk to the financial system.
The FIC chief emphasised that the Centre operates independently, without political influence, and is guided solely by evidence and due process. He noted that the agency’s primary objective is to protect Ghana’s financial sector from abuse, not to target individuals.
This development underscores Ghana’s ongoing commitment to strengthening its anti-money laundering framework, ensuring transparency in financial operations, and maintaining public confidence in state institutions.
