The Office of the Special Prosecutor (OSP) is once again flexing its anti-corruption muscle, announcing that two of its most politically sensitive and
The Office of the Special Prosecutor (OSP) is once again flexing its anti-corruption muscle, announcing that two of its most politically sensitive and high-stakes investigations—the controversial US$94 million MIIF-Goldridge gold deal and a sprawling fuel diversion network involving over 30 companies—are nearing major breakthroughs.
In an unusually assertive update posted on its official Facebook page on Saturday, November 22, the OSP said both cases have reached “advanced stages,” signalling possible arrests, charges, and asset recoveries soon.
The announcement appeared to underscore the institution’s determination to shake off criticisms of slow prosecutions and reassert its relevance in the anti-corruption architecture.
The US$94 Million MIIF–Goldridge Gold Deal
The biggest scandal on the OSP’s radar involves the Minerals Income Investment Fund (MIIF), the state-owned entity created by Act 978 in 2018 to maximize the revenue from mineral resources.
Originally designed to support the government’s gold-for-oil programme and improve gold reserves, the partnership between MIIF and Goldridge Company Limited—owned by businessman Nana Yaw Duodu, popularly known as Dr. Sledge—was hailed as an innovative financial mechanism.
But years later, the deal has come under scrutiny for what investigators believe may be a US$94 million payment for gold that was either partially delivered or not delivered at all. For an economy struggling with forex shortages and revenue inconsistencies, such a financial leak is considered catastrophic.
OSP’s Crackdown So Far
Using its sweeping statutory authority, the OSP has already rolled out a raft of restrictive actions:
Freezing of bank accounts linked to persons of interest
Seizure of assets, including property and financial instruments
Travel restrictions on several individuals connected to the scheme
The most prominent among them, Dr. Sledge, was first invited for questioning and later detained in September 2025 after failing to satisfy his bail conditions.
By October, OSP operatives had conducted simultaneous raids at his Trassaco mansion and the East Legon offices of Goldridge, signalling the seriousness with which the case is being pursued.
Sources close to the inquiry say investigators are now reconciling payment records, export data, and refinery returns to determine exactly how much gold Ghana paid for—and how much it actually received.
The 30-Company Fuel Diversion Racket
Running parallel to the gold investigation is another major scandal—this time inside the petroleum distribution chain.
The OSP is probing what it describes as a “large-scale and well-coordinated fuel diversion syndicate” involving more than 30 Oil Marketing Companies (OMCs).
The scheme is believed to have siphoned off marine gas oil, premix fuel, and various diesel products, depriving the state of millions in taxes and levies.
The modus operandi allegedly involved receiving subsidized or tax-exempt petroleum products for specific industries or communities—then diverting them onto the open market at full commercial price.
This is not the first time the petroleum sector has come under scrutiny. For decades, premix fuel diversion has plagued coastal communities, with government after government promising to clamp down on the illicit trade. What makes this case different is that the OSP is targeting corporate-level complicity, suggesting that the scheme is far more entrenched and lucrative than previously assumed.
The OSP disclosed that it is now working to recover millions of cedis in lost state revenue.
Other Major Cases Already In Court
The OSP also used its update to remind the public that these two major investigations are not the only battles it is fighting.
It confirmed that cases involving the National Petroleum Authority (NPA) and Strategic Mobilisation Ghana Limited (SML)—two institutions already linked to controversial revenue assurance contracts and procurement disputes—are before the courts.
This comes months after public outrage over the multimillion-dollar SML revenue assurance contract at the Ghana Revenue Authority (GRA), prompting intense scrutiny and political debate.
OSP Eyes Asset Recovery
Perhaps the most striking part of the OSP’s latest update is its emphasis on asset recovery. The Office noted that its mandate extends beyond arrests and charges, saying priority is now being placed on the “recovery and management of state assets” tied to corruption.
This shift echoes global best practices, where anti-corruption agencies are increasingly judged not only on how many people they prosecute but how much stolen wealth they return to the public purse.
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