SEE the list of over $3.3 million properties acquired by ex-Buffer stock CEO with looted funds
22nd October 2025
The former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Hanan Abdul-Wahab, has been implicated in a major corruption scandal involving the alleged acquisition of at least six luxury properties through proceeds of crime.
The Attorney General and Minister for Justice, Dr. Dominic Ayine, disclosed these findings on Wednesday, October 22, during the Government Accountability Series in Accra.
The revelations follow earlier reports of Abdul-Wahab’s arrest by the Economic and Organised Crime Office (EOCO) in June 2025 over alleged financial and procurement-related offences at NAFCO.
Dr. Ayine outlined a list of high-value properties allegedly purchased with misappropriated public funds during Abdul-Wahab’s tenure. The assets — collectively worth about $3.3 million, excluding those valued in Ghana Cedis — include:
- A five-bedroom house at Chain Homes, valued at $1.625 million.
- A three-bedroom house at Cantonments, worth $600,000.
- Plots of land at Airport Development, valued at $750,000.
- A 17-bedroom boutique hotel at Gumani, Tamale, worth $250,000.
- A four-bedroom bungalow at Dzorwulu, Accra, costing GH¢4,142,451.
- A 0.32-acre parcel of government land, acquired for GH¢307,200.
According to Dr. Ayine, these properties were traced through ongoing investigations that aim to recover misappropriated state assets and ensure accountability for financial crimes.