Assibey Antwi granted GH¢800m bail - Ex-Buffer Stock CEO on GH¢150m bail
The Accra High Court has granted bail in the sum of GH¢800 million to a former Executive Director of the National Service Authority (NSA), Osei Assibey Antwi, who has been accused of authorising payments of GH¢500,861,744.02 in allowances to over 60,000 non-existent (ghost) national service personnel for his benefit.
Sitting separately also in Accra, the court also granted bail to former Chief Executive Officer of the National Food and Buffer Stock Company Limited (NAFCO), Hanan Abdul-Wahab Aludiba, who has been accused of allegedly stealing and causing financial loss of over GH¢60 million meant for the purchase and supply of foodstuff for the national school feeding component of the Free Senior High School programme.
Mr Antwi, who is alleged to have also diverted GH¢106,000,000 from the authority’s Kumawu Farm Project for his personal use, was admitted to bail after pleading not guilty to 14 counts of causing financial loss, stealing and money laundering.
Per the bail conditions set by Justice Kizita Naa Koowa Quarshie, the accused is to provide six sureties who are to provide security for the bail sum of GH¢800 million with landed property equivalent to the bail sum.
Essentially, the sureties will promise that they will pay the bail amount if the accused does not show up for proceedings.
The accused person has been asked to deposit copies of national identity cards at the court registry.
He is to report at the police headquarters on first and third Wednesday of every month.
Additionally, he is to be placed on the Ghana Immigration Service’s stop list, denying him foreign travel right, pending the determination of the case.
Bail application
Moving a bail application, his lawyer, Osei Owusu, said his client was in a hurry to prove his innocence before the court.
Describing Mr Antwi as a public figure who had served the country in various capacities, the counsel told the court that when granted bail, the accused would not violate any term imposed on him to stand trial.
“We pray that the accused person is admitted to a self-recognisance bail so that he can enjoy all the freedoms that the prosecution has denied him to defend himself properly before this court,” counsel prayed.
The Deputy Attorney-General, Dr Justice Srem-Sai, said although the prosecution was not opposed to the bail, under the accused person’s watch, the nation could not account for over GH¢1.5 billion.
“The factors to consider in determining the conditions of bail includes the gravity of the offence, on this, the amount in question is the highest this year,” the Deputy Attorney-General stated.
Prosecution’s facts
Narrating the facts of the case, Dr Srem-Sai told the court that investigations revealed that from 2018 to 2024, about 63,672 non-existent (ghost) names were taken from the banned list and submitted to Ghana Interbank Payment and Settlement Systems Limited (GhIPPS) for either payment of allowances or for payment of vendors under the pretence that the ghost names had purchased items on hire-purchase from the vendors.
“It came to light that between August 2021 and February 2025, GH¢500,861,744.02 was paid as allowances to ghost names. The said ghost names were authorised by the accused person as Director of NSA and submitted to the GhIPSS,” he said.
He added that vendors who were interrogated by the National Investigations Bureau (NIB) confirmed that they were overpaid for goods and services rendered to the national service persons.
NAFCO case
In the Buffer Stock case, Aludiba and his wife, Faiza Seidu Wuni, who has been accused of using her business, Fa Hausa Ventures, to launder the stolen money, were admitted to bail in a combined sum of GH¢150 million when they appeared before the court yesterday.
According to investigators, they found a total of GH¢161,459,987.27 in Fa Hausa Ventures’ account, which the two allegedly invested in money instruments and other securities and investment products for their personal use and benefit.
Bail hearing
Aludiba and Wuni pleaded not guilty to multiple counts of stealing, fraudulently causing financial loss to the state, money laundering, dishonestly receiving, intentionally causing financial loss to the state, dissipation of public funds, among others, while they appeared before Justice Audrey Kocuvi-Tay.
Their lawyer, Joseph Dindiok Kpemka, referred the court to Article 19(2)(c) of the 1992 Constitution which stipulates that a person charged with a criminal offence is innocent until proven guilty.
He added that his clients, who had people to stand as surety for them, had complied with all conditions set by the Economic and Organised Crime Office during investigations and as such, were willing to attend court proceedings to clear their names.
The Deputy Attorney-General, Dr Justice Srem-Sai, did not oppose the bail but drew the court’s attention to the gravity of the offences.
Bail conditions
After listening to both sides, Justice Kocuvi-Tay admitted Aludiba to bail in the sum of GH¢100 million with six sureties, four to be justified with landed property.
His wife, Wuni, was admitted to bail in the sum of GH¢50 million with four sureties, three to be justified with landed property within the jurisdiction.
The six sureties are to deposit copies of their Ghana cards.
The sureties have also been charged with the responsibility of updating the court as and when there was a change in their addresses.
Meanwhile, the accused persons are to report to investigators every Wednesday until the final determination of the matter.
The case has been adjourned to November 27, 2025.
Background
Per the charge sheet signed by the Attorney-General and Minister of Justice, Dr Dominic Ayine, Aludiba and the Head of Finance, Richard Sam-Asante, who were the signatories to NAFCO’s account, allegedly caused financial loss of GH¢50, 879,210 to the state by transferring GH¢ 69,616,226.29 to Sawtina Enterpise, a company which has a Regional Manager of NAFCO, James Tieku-Apawu, as its shareholder.
Sawtina Enterpise was supposed to buy and supply foodstuff to NAFCO, but after receiving the GH¢69,616,226.29, the A-G alleged that only 20 per cent of the money was actually used by Tieku-Apawu for genuine supplies, with Aludiba receiving more than GH¢50 million directly, leading to financial loss to the state.
In addition to the GH¢50,879,210, Aludiba is alleged to have also stolen an extra GH¢10 million from NAFCO.
He is alleged to have transferred the moneys to his other companies and that of other businesses of his wife, Faiza Seidu Wuni.
