The Attorney-General has disclosed significant allegations of money laundering and acquisition of properties through the proceeds of crime against the former Chief Executive Officer of the Buffer Stock Company Limited, Hanan Abdul-Wahab, and his wife, spanning the years 2018 to 2024.
The Attorney-General’s office detailed several suspicious money transfers originating from the Buffer Stock Company to entities allegedly linked to the former CEO. These transfers, totaling GH₵40,493,102.15, were made from the company’s accounts to entities including Sawtina Enterprise, Alqarni Enterprise, Fa-Hausa Ventures, and Chain Homes Ghana Ltd. Specifically, Sawtina Enterprise transferred GH₵16,179,137.25 to Hanan Abdul-Wahab, GH₵23,913,964.90 to Alqarni Enterprise,
GH₵500,000.00 to Fa-Hausa Ventures, and GH₵550,000.00 to Chain Homes Ghana Ltd.
Furthermore, the AG revealed that properties acquired using these alleged proceeds of crime include a five-bedroom house at Chain Homes, a three-bedroom house at Cantonments, plots of land at Airport Development, a 17-bedroom boutique hotel at Gumani in Tamale, and a four-bedroom bungalow situated at Dworwulu, Accra.
The purchase of 0.32-acre government land was also listed among the assets acquired with illicit funds. The values cited for these properties amount to:
| Asset Description | Value | Currency |
|---|---|---|
| 0.32-acre government land | $1,625,000.00 | USD |
| Additional property | $600,000.00 | USD |
| Additional property | $750,000.00 | USD |
| Additional property | $250,000.00 | USD |
| Additional property | GH₵4,142,451.00 | GHS |
| Additional property | GH₵307,200.00 | GHS |
In a separate but related finding, the Attorney-General stated that between 2017 and 2024, Hanan Abdul-Wahab, in concert with Richard Sam-Asante and Bismark Owusu Bokaye, allegedly orchestrated the transfer of GH₵78,269,084.04 from Buffer Stock Company bank accounts at Republic Bank and ECOBANK to a private company connected to Abdul-Wahab, his spouse, and Buffer Stock staff.
This disclosure follows a forensic audit by the Auditor-General, which reportedly uncovered that the total amount involved in the National Service Ghost Names Scandal is significantly higher than previously estimated, standing at GH₵2.2 billion, up from an earlier figure of GH₵548 million.
Ruth Abla ADJORLOLO
