The Attorney-General has charged the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Hanan Abdul-Wahab Aludiba, his wife, and three associates with stealing and laundering more than GHC78 million in public funds between February 2017 and February 2025.
The case, filed at the High Court (Criminal Division) in Accra on October 28, 2025, details what prosecutors describe as a sophisticated scheme of embezzlement and financial manipulation during Aludiba’s tenure as NAFCO CEO.
The accused persons include Faiza Seidu Wuni (Aludiba’s wife), The Aludiba Foundation, Energy Partners Limited, and Richard Sam-Asante, NAFCO’s Head of Finance who is currently at large. They face 24 counts ranging from stealing, money laundering, and fraudulently causing financial loss to the Republic to using public office for profit and the intentional dissipation of public funds.
According to the charge sheet, Hanan Abdul-Wahab allegedly stole more than GHC50.8 million from NAFCO through payments purportedly made to Sawtina Enterprise, a company owned by one of NAFCO’s regional managers, James Tieku-Apawu.
Investigations by the Economic and Organised Crime Office (EOCO) revealed that nearly 80 percent of transfers made to Sawtina Enterprise had no corresponding supply of goods, with over GHC50 million traced back to Hanan, his wife, and related entities.
Further investigations uncovered that Hanan authorised payments of GHC5.49 million to Aludiba Enterprise (his personal business), GHC4.4 million to Alqarni Enterprise (owned by his wife), and GHC251,050 to Energy Partners Limited, a company he also controls. EOCO stated that none of these entities were licensed NAFCO suppliers and that no legitimate transactions supported the payments.
Between 2020 and 2022, the former CEO allegedly transferred more than GHC13.2 million from NAFCO funds into Fa-Hausa Ventures, a company registered in his wife’s name. Both were signatories to its bank account. “EOCO began investigating after receiving intelligence that Hanan had embezzled hundreds of millions of cedis during his tenure,” investigators stated.
The funds were reportedly used to purchase properties and investments in Accra, Tamale, and other locations, as well as to finance The Aludiba Foundation, which investigators say was used as a front to launder proceeds of crime.
Hanan was arrested on June 25, 2025, at his Chain Homes residence in Airport East, Accra, and later granted police inquiry bail. His wife and other associates were also arrested in coordinated operations in Tamale and Accra. However, NAFCO’s Head of Finance, Richard Sam-Asante, who allegedly co-signed fraudulent cheques and facilitated some of the payments, remains at large.
The 24 charges include stealing under Section 124(1) of Act 29, fraudulently causing financial loss to the Republic, money laundering under Act 1044, using public office for profit under Section 179C of Act 29, and intentional dissipation of public funds under SMCD 140.
The prosecution is expected to call EOCO investigators, auditors, and bank officials as witnesses. If found guilty, the former CEO and his associates could face lengthy custodial sentences, restitution orders, and asset confiscations under Ghana’s anti-money laundering laws.
Source: newsghana.com.gh
