He Finally Died At Korle-Bu: How Victor Selormey Suffered For Causing Financial Loss To Ghana

Ghana’s Ministry of Finance has had and received a number of personalities with varying orientations and characters. As one of the most delicate and significant ministries in the country, Ghanaians are very much particular about the kind of people it receives, coupled with how the institution itself portrays itself in the public domain. 

We can never mention Rawlings’ administration without making reference to this St. Augustine’s College Alumnus, Victor Lawrence Kwashie Selormey. 

Victor lived his life as an Economist, a Teacher and a Political Leader. He was a strong personality of the National Democratic Congress (NDC), led by John Jerry Rawlings. 

Although Selormey could not complete his Doctorate Programmme at the London School of Economics, UK due to financial difficulties; he had to his credit, a Bachelor of Arts Degree in Economics and Postgraduate Degree in Development Economics, both from the University of Ghana, Legon, in 1971 and 1978 respectively.

When Rawlings saw his great academic qualifications, coupled with his convincing experience and expertise in governance and politics, he offered him an opportunity to serve as the Deputy Minister for Finance and Economic Planning. Not only that, he accompanied Rawlings on several International Assignments in countries like United States of America, Switzerland and Italy. While performing these roles, he was also working as an Alternative Member of the International Monetary Fund (IMF) for Ghana. Victor also had the chance to be on the SSNIT as a government representative. 

But the question begging a quick response is: Why did Selormey end up in prison after performing all these key roles? 

Follow me, and let us unfold this event together.

Unfortunately, Victor committed a heinous crime against the state. He signed a ghost contract with Economics, Engineering and Business Development Associates. Justice Sam Baidoo, who was the presiding judge of the Fast Track Court, per the evidences at hand, revealed that Selormey willfully caused a financial loss of $1,297.5 Million to the nation. This was however his main criminal act: He defrauded the state by false pretenses. And as a consequence, was sentenced to do hard labour in prison for 8 solid years. 

Victor, having gone through a series of sufferings in prison, passed on at Korle-Bu Teaching Hospital in Accra. This happened after President Kufuor remitted his sentence on March 3, 2004. 

Another reliable material has revealed that his colleague, Mr. Dan Abodakpi was also found guilty for willfully causing financial loss of $400,000 to Ghana.

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