George Abradu-Otoo is the Chief Executive Officer of NAFCO
The Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), George Abradu-Otoo, has spoken publicly for the first time following the Attorney General’s announcement of criminal proceedings against former CEO, Abdul-Wahab Hanan, and his wife, Faiza Seidu Wuni, over their alleged involvement in a GH¢78.2 million embezzlement scheme.
Speaking in an exclusive interview with GhanaWeb, Abradu-Otoo described the situation as deeply unfortunate, noting that the scandal has caused significant reputational damage to the organisation.
“It’s unfortunate. This company has suffered reputational damage that we must work hard to repair. We’ve received calls from all over the world asking what happened. I wasn’t here at the time, and I won’t comment extensively because the matter is sub judice. It’s currently before the courts,” he stated.
To rebuild public confidence and strengthen internal accountability, Abradu-Otoo revealed that his administration has established a five-member audit committee to enhance financial oversight and address operational weaknesses.
“One of the reasons we set up this audit committee was to address gaps in oversight. Previously, there wasn’t a structure like this in place, which allowed management too much latitude. That’s something I’m committed to correcting,” he emphasised.
As part of wider reforms, NAFCO has also recruited seasoned professionals to lead its Internal Audit and Procurement Departments. Together with the committee, they will ensure stronger financial reporting, internal controls, and risk management, covering balance sheets, income statements, cash flow reports, and compliance with regulatory standards.
Abradu-Otoo noted that this is the first time in NAFCO’s 15-year history that such legal and structural requirements are being properly instituted.
See full list of properties allegedly acquired by former NAFCO CEO
Details of the alleged scandal
On October 22, 2025, Attorney General and Minister of Justice, Dr Dominic Akuritinga Ayine, revealed that Abdul-Wahab Hanan is at the centre of a sweeping corruption investigation.
Speaking at the Government Accountability Series, the Attorney General disclosed that investigators from the Economic and Organised Crime Office (EOCO) had uncovered multiple luxury properties and suspicious financial transactions linked to the former CEO, believed to have been financed with stolen state funds.
Abdul-Wahab and his wife were arrested on June 25, 2025.
He was detained for two weeks before being granted bail of GH¢60 million with two sureties, while his wife was granted GH¢30 million bail and released earlier.
The opposition New Patriotic Party (NPP) has criticised the bail terms as excessively punitive and politically motivated. However, Dr Ayine defended the government’s approach, stressing its commitment to accountability and the rule of law.
See full list of properties allegedly acquired by former NAFCO CEO
SA/EB