Background
Ghanaian forex trader Bright Kojo Onipayede, popularly known as Kojo Forex, and Albert Nathaniel Hyde, widely known as Bongo Ideas, were involved in a public dispute. Bongo Ideas had made some defamatory statements about Kojo Forex on X (formerly Twitter), alleging that his success in forex trading wasn’t solely due to his skills, but also involved shady business practices.
Kojo Forex Files The Lawsuit
On May 17, 2023, Kojo Forex filed a defamation lawsuit against Bongo Ideas, seeking damages of one million Ghana cedis (GH₵1,000,000). He also demanded a public apology, retraction of the defamatory statements, and a permanent injunction to prevent further defamatory statements .
The lawsuit stems from Bongo Ideas’ refusal to retract statements on Twitter calling Kojo Forex a “FX fraudster” and “Ponzi schemer” after Kojo Forex declined to mentor him, highlighting legal boundaries between free speech and defamation in Ghana’s digital space.
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Court Ruling
After reviewing the evidence, Justice Forson Agyapong Baah of the Accra High Court, Jurisdiction 2, delivered a ruling on January 28, 2025. The court ordered Bongo Ideas to pay Kojo Forex GH₵170,000 in damages, comprising GH₵100,000 in general damages, GH₵50,000 in aggravated, exemplary, and compensatory damages, and GH₵20,000 in legal costs .
The plaintiff took to his X page to make the courts decision on the matter known to his followers.
Post-Ruling
Bongo Ideas was also ordered to publicly apologize and retract the defamatory statements on his Twitter page within 21 days of the judgment. Additionally, the court issued a permanent injunction preventing Bongo Ideas from making or publishing further defamatory statements about Kojo Forex .
Future Plans
Kojo Forex shared the outcome of the court ruling on his X account, announcing his plans to use the awarded amount for a giveaway to celebrate his fans .
We can only look out for the turn of events, as always X users react greatly by asking the question “Where will he get the money to pay?.
