Ex- Buffer Stock CEO Under Serious Investigation for Alleged Corruption, Asset Acquisition with State Funds:
The Attorney General and Minister of Justice, Dr. Dominic Akuritinga Ayine, has revealed that former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, is the focus of a major corruption investigation concerning the alleged acquisition of high-value assets using state funds.
Speaking at the Government Accountability Series in Accra on Wednesday, October 22, 2025, Dr. Ayine stated that investigators from the Economic and Organised Crime Office (EOCO) have identified several luxury properties and suspicious bank transactions linked to Abdul-Wahab, which they believe were financed with proceeds of crime.
“Investigators from the Economic and Organised Crime Office (EOCO) have traced several properties and bank transactions linked to Abdul-Wahab, which they believe were funded through illicit means,” he said.
Abdul-Wahab Hanan was arrested along with his wife on June 25, 2025, and detained by EOCO for two weeks before being granted bail in the sum of GH¢60 million with two sureties. His wife was released earlier on a GH¢30 million bail.
While the opposition New Patriotic Party (NPP) has criticized the bail conditions as excessively harsh and politically motivated, Dr. Ayine maintained that the government is committed to enforcing accountability and the rule of law.
He disclosed specific assets allegedly acquired with misappropriated funds, including:
• A five-bedroom house at Chain Homes, valued at $1.625 million
• A three-bedroom residence at Cantonments purchased for $600,000
• Plots of land at Airport Development Area worth $750,000
• A 17- bedroom boutique hotel in Gumani, Tamale valued at $250,000
• A four-bedroom bungalow at Dzorwulu valued at GH¢4.14 million
• A 0.32- acre parcel of government land purchased for GH¢307,200
Dr. Ayine assured that all assets proven to have been purchased with stolen funds will be confiscated in accordance with the law.
