The former Chief Executive Officer (CEO) of the National Food Buffer Stock Company (NAFCO), Hanan Abdul-Wahab, and his wife have been charged with 24 counts of theft, money laundering, and conspiracy in connection with the alleged misappropriation of over GH¢78 million belonging to the state.
According to court documents, the charges were brought after an extensive investigation by the Office of the Special Prosecutor (OSP) and the Economic and Organised Crime Office (EOCO).
The probe revealed that large sums of money meant for food supplies and warehousing operations under Buffer Stock were allegedly diverted into personal accounts and used to acquire luxury assets, including properties and vehicles.
Prosecutors say the couple collaborated to conceal the source of the funds, transferring portions through multiple bank accounts and shell companies to disguise the transactions.
The charges include stealing, conspiracy to commit a crime, and money laundering.
According to the charge sheet, Abdul-Wahab is said to have siphoned more than GH¢50.8 million through payments made to Sawtina Enterprise, a company owned by NAFCO’s Northern Regional Manager, James Tieku-Apawu.
Investigations by the EOCO found that nearly 80% of the payments to Sawtina had no record of goods supplied, with the funds allegedly traced back to Abdul-Wahab, his wife Faiza Wuni, and their related companies.
Further probes revealed additional payments of GH¢5.49 million to Aludiba Enterprise—owned by Abdul-Wahab himself—GH¢4.4 million to Alqarni Enterprise, his wife’s business, and GH¢251,050 to Energy Partners Limited, another company under his control.
EOCO established that none of these entities were approved NAFCO suppliers, nor did they provide any legitimate goods or services.
Between 2020 and 2022, Abdul-Wahab is also alleged to have transferred GH¢13.2 million of NAFCO funds into Fa-Hausa Ventures, a company registered under his wife’s name.
Both were signatories to the account, and investigators believe the money was used to acquire properties and investments in Accra, Tamale, and other locations. Some of the proceeds were reportedly funneled through The Aludiba Foundation, which prosecutors claim served as a front for laundering illicit funds.
EOCO launched its investigation earlier this year after receiving intelligence suggesting large-scale embezzlement during Abdul-Wahab’s tenure. He was arrested on June 25, 2025, at his residence at Chain Homes, Airport East (Accra), while his wife and other associates were detained in coordinated operations in Accra and Tamale.
The Head of Finance at NAFCO, Richard Sam-Asante, who allegedly co-signed several of the fraudulent cheques, is currently on the run.
Abdul-Wahab and his wife face 24 criminal charges, including:
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Stealing (Section 124(1) of Act 29)
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Causing financial loss to the Republic
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Money laundering (Act 1044)
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Using public office for profit (Section 179C of Act 29)
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Intentional dissipation of public funds (SMCD 140)
The case, assigned to the High Court (Criminal Division) in Accra, will see EOCO investigators, financial auditors, and bank officials called as witnesses when hearings resume.
If convicted, the former CEO and his wife could face long prison terms and asset forfeiture under Ghana’s anti-corruption and money laundering laws.
Abdul-Wahab, who served as CEO between 2017 and 2021, is alleged to have authorised irregular payments to nonexistent suppliers. His wife is accused of aiding in the movement and concealment of funds derived from the scheme.
The National Food Buffer Stock Company, established to stabilise food prices and ensure national food security, has recently come under scrutiny for alleged corruption and mismanagement.
The case is seen as a major test of the government’s commitment to fighting public sector corruption.
If convicted, the former CEO and his wife could face lengthy prison sentences and the forfeiture of assets traced to the alleged stolen funds.
