EOCO seizes former Buffer Stock Boss’ Tamale mansion
The Economic and Organised Crime Office (EOCO) has marked a multi-million-cedi property at Kalpohin Estate Junction in Tamale, believed to belong to former National Food and Buffer Stock Company (NAFCO) Chief Executive Officer, Hanan Abdul-Wahab, as part of ongoing investigations into alleged corruption and money laundering.
The property, prominently featured in the Attorney General’s “Rumble in the Jungle” anti-corruption briefing held in Accra on Wednesday, is among several assets the state claims were acquired using proceeds from misappropriated public funds.
According to the Attorney General and Minister for Justice, Dr. Dominic Ayine, preliminary findings suggest that Abdul-Wahab used his position as head of NAFCO to illicitly channel public funds into personal real estate investments across Accra and Tamale.
EOCO’s investigations, he said, have traced a network of financial transactions that allegedly financed the acquisition of several luxurious properties.
Properties Under Scrutiny
Among the assets currently under EOCO’s radar are:
A five-bedroom mansion at Chain Homes, Accra, valued at $1.625 million.
A three-bedroom house at Cantonments purchased for $600,000.
Several plots of land at the Airport Development Area worth $750,000.
A 17-bedroom boutique hotel at Gumani, Tamale, valued at $250,000.
A four-bedroom bungalow at Dzorwulu, valued at GHS 4.14 million.
A 0.32-acre state land parcel reportedly acquired for GHS 307,200.
The AG indicated that these properties, including the Tamale building now marked by EOCO, could face confiscation orders should the court confirm they were acquired through proceeds of crime.
Alleged Money Laundering Scheme
Ayine further disclosed that investigators had uncovered a complex money-laundering network involving Sawtina Enterprise, a private company allegedly controlled by Abdul-Wahab.
Between 2021 and 2024, Sawtina Enterprise reportedly moved over GHS 40.5 million through various accounts and entities in what EOCO suspects was an attempt to conceal the flow of public money.
The breakdown of these transactions, according to the AG, includes:
GHS 16,179,137.25 transferred directly to Hanan Abdul-Wahab.
GHS 23,913,964.90 to Alqarni Enterprise.
GHS 500,000 to Fa-Hausa Ventures.
GHS 550,000 to Chain Homes Ghana Ltd., the same developer from whom Abdul-Wahab allegedly purchased one of his luxury residences.
“These patterns show clear evidence of financial misconduct, deliberate self-dealing, and attempts to disguise the origins of criminal proceeds,” Dr. Ayine stated.
Abdul-Wahab Denies Allegations
In a swift rebuttal, the former NAFCO CEO took to Facebook to reject the allegations, describing them as “untrue and deeply unfortunate.”
“I have no involvement in the issues being referred to, and I find the comments deeply unfortunate,” he wrote. “I look forward to having my day in court, where the truth will be made clear.”
Abdul-Wahab also confirmed that his legal team had been instructed to study the Attorney General’s statements and take the necessary legal steps to defend his reputation.
He emphasized his commitment to honesty, transparency, and integrity, saying he has always served Ghana with “the utmost sense of responsibility.”
Arrest, Bail and Political Fallout
EOCO’s probe led to the arrest of Abdul-Wahab and his wife on June 25, 2025.
He was reportedly detained for two weeks before being granted bail of GHS 60 million with two sureties, while his wife was released earlier on GHS 30 million bail.
The development quickly triggered a political storm, with the New Patriotic Party (NPP) accusing the Mahama administration of using the justice system to persecute political opponents. Party officials labelled the bail conditions “excessive and vindictive.”
The Buffer Stock Legacy
Hanan Abdul-Wahab, appointed in 2017, served as NAFCO’s CEO for seven years until 2024, overseeing Ghana’s strategic food reserves and distribution systems designed to stabilize market prices.
However, EOCO’s probe alleges that millions of cedis meant for suppliers and operational support were siphoned into private accounts linked to the former CEO and companies under his control.
The Attorney General’s office has since initiated steps to freeze all identified accounts and properties, pending the outcome of court proceedings.
Next Steps
Dr. Ayine assured Ghanaians that the government remains committed to recovering every pesewa lost to corruption.
“This case sends a strong signal that public office will never again be a channel for personal enrichment,” he said.
Meanwhile, EOCO sources have confirmed that the marked Tamale property at Kalpohin Estate Junction is under 24-hour surveillance as part of ongoing investigations, with court processes expected to commence soon.
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