The former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Hanan Abdul-Wahab, is at the centre of a far-reaching corrup
The former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Hanan Abdul-Wahab, is at the centre of a far-reaching corruption and money laundering scandal, after state investigators uncovered a trail of high-value assets and suspicious transactions believed to have been acquired with stolen public funds.
Attorney General and Minister for Justice, Dr. Dominic Ayine, made the shocking revelations at the Government Accountability Series press briefing in Accra on Wednesday, confirming that Abdul-Wahab used state resources under his management to enrich himself through illicit property acquisitions and complex financial schemes.
Lavish Properties Linked to Stolen Funds
According to Dr. Ayine, the Economic and Organised Crime Office (EOCO) has traced a list of luxury properties allegedly purchased with proceeds of crime during Abdul-Wahab’s tenure at the Buffer Stock Company. These include:
A five-bedroom house at Chain Homes, valued at $1.625 million.
A three-bedroom residence at Cantonments, purchased for $600,000.
Multiple plots at Airport Development Area worth $750,000.
A 17-bedroom boutique hotel in Gumani, Tamale, estimated at $250,000.
A four-bedroom bungalow at Dzorwulu, Accra, valued at GHS 4.14 million.
A 0.32-acre parcel of state land, bought for GHS 307,200.
Dr. Ayine stated that all assets linked to the former CEO would be subject to confiscation once the courts determine that they were acquired with misappropriated public funds.
How the Scheme Unfolded
Investigations revealed that the ex-CEO allegedly channelled state funds through Sawtina Enterprise, a company linked to him, in a well-coordinated money laundering network. Between 2021 and 2024, Sawtina Enterprise is reported to have transferred more than GHS 40.5 million to several individuals and business entities, including companies connected to Abdul-Wahab himself.
A breakdown of the suspicious transfers provided by the Attorney General shows:
GHS 16,179,137.25 paid directly to Hanan Abdul-Wahab.
GHS 23,913,964.90 wired to Alqarni Enterprise, a partner company.
GHS 500,000.00 to Fa-Hausa Ventures.
GHS 550,000.00 to Chain Homes Ghana Ltd — the same firm from which Abdul-Wahab purchased his luxury residence.
“These transactions, taken together, show a clear pattern of financial misconduct, self-dealing, and deliberate attempts to conceal the origins of criminal proceeds,” Dr. Ayine stated.
Arrest, Bail and Political Reactions
Abdul-Wahab was arrested by EOCO on June 25, 2025, alongside his wife, after preliminary findings implicated them in large-scale embezzlement and money laundering activities.
He was held for two weeks before being granted bail of GHS 60 million with two sureties, while his wife was released earlier on a GHS 30 million bail.
His arrest triggered political controversy, with the New Patriotic Party (NPP) accusing the government of using the justice system to settle political scores.
The party described the bail amount as “excessive and vindictive.”
However, Dr. Ayine dismissed those claims, insisting that the prosecution is based purely on evidence gathered by EOCO and not on political considerations.
“No one, not even President Mahama, has influenced my work,” the Attorney General affirmed.
Background and Ongoing Probe
Abdul-Wahab, who served as NAFCO CEO between 2017 and 2024, was responsible for managing state food reserves and ensuring stable food supply chains across the country.
However, EOCO’s investigations suggest that instead of strengthening food security, he allegedly diverted millions of cedis meant for suppliers and buffer stock operations into private accounts.
Meanwhile, the Attorney General’s office says the state will move to freeze all identified bank accounts and properties pending the outcome of court proceedings.
“This case sends a clear message that abuse of public office for personal enrichment will not be tolerated,” Dr. Ayine emphasised.
“Government is determined to recover every pesewa stolen from the Ghanaian taxpayer.”
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