Key points:
- $7m fraud linked to cyber equipment deals
- Ex-NSB chief and wife arrested in Accra
- EOCO tracks stolen funds and properties
GHANA’S Attorney General Dominic Ayine has confirmed the arrest of the former Director-General of the National Signals Bureau (NSB), Kwabena Adu Boahen, and his wife Angela Adjei Boateng, over their alleged roles in a $7 million cyber equipment procurement fraud. The arrests, executed by the Economic and Organised Crime Office (EOCO), are part of a broader investigation into high-level corruption and state resource looting.
Speaking at a press conference in Accra on Monday, Ayine revealed that Adu Boahen was apprehended on March 21 at Kotoka International Airport after arriving on a British Airways flight. His wife was later arrested at their residence. Both are accused of using their positions to siphon public funds through shell companies and fraudulent transactions.
According to Ayine, the arrests were based on intelligence gathered over several months. ‘We are working diligently to recover all looted assets and hold accountable those responsible for abusing public trust,’ he stated.
GHS49 million transferred to private accounts
Investigations revealed that Adu Boahen, while serving as NSB chief, authorised contracts for the purchase of cyber defence systems from Israeli firm ISC Holdings Limited. However, instead of paying ISC directly from government accounts, Adu Boahen allegedly diverted 49 million Ghana cedis (about $7 million at the time) to a private company he co-owned with his wife, BNC Communications Bureau Limited.
Of the $7 million transferred, only $1.75 million was forwarded to ISC Holdings. The remaining funds were reportedly channelled into private investments, luxury properties, and undisclosed bank accounts. Ayine described the actions as ‘a calculated attempt to defraud the state and enrich themselves at the expense of the Ghanaian people.’
‘The difference of over 30 million Ghana cedis, which should have gone towards national security infrastructure, ended up in their private pockets,’ Ayine stated.
Extensive asset recovery efforts underway
EOCO’s investigations have uncovered a complex network of companies and accounts used to launder the stolen funds. Ten additional companies tied to Adu Boahen and his wife are under scrutiny, with Advantage Solutions Limited identified as a major beneficiary.
Authorities have tracked significant assets both locally and internationally. Among the properties are multiple homes in Accra’s Mayfair Estate and Oyarifa, as well as two properties in London. Vertex Properties, another firm linked to the suspects, owns 27 houses valued at nearly $300,000 each.
Ayine confirmed that EOCO is pursuing mutual legal assistance with foreign governments to freeze and recover these assets. He also issued a warning to local banks and financial institutions against facilitating any transfers or withdrawals from accounts connected to the suspects.
EOCO investigations near conclusion
The Attorney General announced that EOCO is close to wrapping up its investigation and will soon file formal charges against Adu Boahen, his wife, and other suspects. The suspects are currently in detention, with bail conditions totalling 260 million Ghana cedis being reviewed.
“This case demonstrates our commitment to recovering stolen public funds and restoring accountability in public office,” Ayine declared.
Ghana’s crackdown on corruption intensifies
The case is part of the government’s broader Operation Recover All Loot (ORAL) initiative, which aims to combat corruption and reclaim state resources misappropriated by public officials. Ayine assured Ghanaians that his office remains resolute in prosecuting white-collar crime, citing ongoing investigations into similar high-profile cases.
As the investigation progresses, Ghana’s efforts to clamp down on corruption send a clear message: no one is above the law..
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