• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Ex-National Signals Bureau Chief Arrested Over $7 Million Cyber Defense Fund Diversion

5 months ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
478
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Money Conversations With Your Spouse: Save Together and Avoid the Debt Trap

GIPC and JETRO Sign Two-year Pact to Unlock Business Opportunities

World Federation of Exchanges Calls for Global Tax Reform to Unlock Investment and Power Economic Growth

Ex-National Signals Bureau Chief Arrested Over $7 Million Cyber Defense Fund Diversion

Ghana’s Attorney-General and Minister of Justice, Dominic Ayine, has revealed that Kwabena Adu Boahene, former Director-General of the National Signals Bureau (NSB), was arrested in connection with the misappropriation of $7 million earmarked for a cyber defense system.

At a press conference on Monday, March 24, 2025, Ayine detailed the circumstances surrounding the case, stating that public funds meant to bolster Ghana’s cybersecurity infrastructure were instead funneled into Adu Boahene’s private account.

“The contract, valued at $7 million, was intended to enhance Ghana’s capacity to detect, prevent, and respond to cyber threats, data breaches, and digital espionage,” the Attorney-General disclosed.

However, despite the strategic importance of the project, Adu Boahene allegedly engaged in unauthorized financial transactions.

“In his capacity as Director of the National Signals Bureau, Mr. Adu Boahene, on January 30, 2020, signed a contract on behalf of the Government of Ghana and National Security with an Israeli firm, RLC Holdings Limited, for the purchase of a cyber defense system software valued at $7 million,” Ayine stated.

Just a week later, on February 6, 2020, he allegedly transferred an initial sum of GHS 27.1 million (equivalent to approximately $5 million at the time) from the NSB’s Fidelity Bank account to a private BNC account at Universal Merchant Bank (UMB), under the pretext of funding the contract. The funds were then reportedly funneled into a company privately owned by Adu Boahene.

The revelation has heightened scrutiny over financial oversight in Ghana’s security sector, particularly concerning high-value contracts. Adu Boahene, who was arrested upon arrival at Kotoka International Airport on March 20, 2025, is currently under investigation by the Economic and Organised Crime Office (EOCO).

Authorities are also examining whether the former NSB chief used part of the diverted funds to obtain foreign citizenship, with investigators confirming he possesses multiple service passports.

His arrest has sparked political controversy, with Minority Leader Alexander Afenyo-Markin condemning it as politically motivated. However, government officials maintain that the prosecution is part of a broader effort to curb financial misconduct in public institutions.

Adu Boahene and his wife face up to 25 years in prison if found guilty of illegally amassing wealth and financial crimes. The case is expected to be closely followed as the government intensifies its anti-corruption drive.

Tags: $7 Million Cyber Defense Fund DiversionEx-National Signals Bureau Chief Arrested Over $7 Million Cyber Defense Fund DiversionNational Signals Bureau

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

GSS Urges Firms to Prioritise Innovation as Producer Inflation Slows to 3.8%

Ghana May Return to IMF Again Unless Structural Weaknesses are Fixed – IEA Says

Idle Oil Wealth of Africa’s Largest Oil Producer Could Build 2 Million Health Centers

BoG Directs Banks to Halt Unsupported Foreign Currency Cash Payments to Large Corporates

The Countries Winning the Global AI Innovation Race Revealed

Importers and Exporters Association Commends BoG for Cedi Stability

Trending

Business

Money Conversations With Your Spouse: Save Together and Avoid the Debt Trap

August 21, 2025

Money Conversations With Your Spouse: Save Together and Avoid the Debt Trap Many Ghanaian families are only...

GIPC and JETRO Sign Two-year Pact to Unlock Business Opportunities

August 21, 2025

World Federation of Exchanges Calls for Global Tax Reform to Unlock Investment and Power Economic Growth

August 21, 2025
Staff placing freshly sliced mangoes on drying trays,. The fruit is dried for between 12 and 16 hours depending on water content  in large kilns. Mango drying facitly - Bavaria fruit  farm Hoedspruit  27th March 2008

GSS Urges Firms to Prioritise Innovation as Producer Inflation Slows to 3.8%

August 21, 2025

Ghana May Return to IMF Again Unless Structural Weaknesses are Fixed – IEA Says

August 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.