COCOBOD Pays Chairman Wontumi GH¢50 Million — Assets Frozen As Government Investigates

Authorities have frozen assets associated with a GH¢50 million payment from COCOBOD to businessman Bernard Antwi Boasiako, widely known as Chairman Wontumi, while investigations into the transaction are underway.

Felix Ofosu Kwakye, the Minister for Government Communications, said the payment was reportedly made to Wontumi for services allegedly rendered to the cocoa regulator.

He explained that the businessman later invested GH¢30 million in Treasury Bills and reportedly spent about GH¢23 million setting up an insurance company.

The government’s decision to freeze the assets is intended to support investigations into the payment, particularly the reasons for the transaction and the subsequent use of the funds.

The matter has attracted public interest, with questions being raised about the services provided, the justification for the payment and whether the transaction received the required authorisation. It has also highlighted concerns about accountability in the use of public resources.

As the probe continues, investigators will examine whether the payment complied with financial and procurement rules. They will also seek to establish the exact nature of the services allegedly provided to COCOBOD and determine how the funds were utilised.

The government has indicated that the investigation is still in progress and that any further action will be guided by the available evidence. Chairman Wontumi is expected to have the opportunity to respond to the claims and provide his account of the transaction.

Newpower300 feedback-opera-news-app@opera.com