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Thursday, May 1, 2025

Kwabena Adu-Boahene diverted GH¢49 million into his private company

Former Director General of NSB, Kwabena Adu-Boahene Former Director General of NSB, Kwabena Adu-Boahene

The Attorney General and Minister for Justice, Dr Dominic Akuritinga Ayine, has disclosed that the former Director General of the National Signals Bureau, Kwabena Adu-Boahene, transferred a total of GH¢49 million, the cedi equivalent of $7 million, from a state account into the account of a private company he co-owned with his wife.

Addressing the press on Wednesday, April 30, 2025, Dr Ayine stated that the amount, which was intended for the purchase of a cyber defense system, was instead diverted.

“The contract was for the purchase of a cyber defense system software at a price of seven million United States dollars. Let us call this contract the GOG ISC contract. On February 6, 2020, Mr. Adu-Boahene transferred an initial amount of GH¢27.1 million from the National BNC’s operations account at Fidelity Bank to the private BNC account at UMB Bank,” he stated.

“A review of the transactions on the bank accounts reveals that once the funds from the National BNC landed in the private BNC account at UMB, Mr. Adu-Boahene instructed the private BNC to transfer an amount of GH¢9,537 to ISE Holdings in Israel,” he explained.

Meanwhile, Kwabena Adu-Boahene has pleaded not guilty to multiple charges, including allegedly causing a financial loss of GH¢49 million to the state in connection with the cyber defense software procurement deal.

This follows formal charges brought against him by the Attorney General, including three counts of stealing, one count of willfully causing financial loss to the state, one count of using public office for profit, one count of defrauding by false pretence, and one count of obtaining public property by false statement.

JKB/MA

Meanwhile, watch why Kennedy Agyapong has withdrawn from NPP’s ‘Thank You Tour’

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