• 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 Business Banking & Finance

Former National Signals Bureau Director Faces Multi-Million Dollar Fraud Charges

3 weeks ago
in Banking & Finance, Business, Economy, Editor's pick, Features, General, highlights, Home, home-news, latest News, Lifestyle, Maritime, News
2 min read
0 0
0
59
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Former National Signals Bureau Director Faces Multi-Million Dollar Fraud Charges

  • High Profile Corruption Case Rocks Ghana’s Security Sector

In what appears to be one of Ghana’s most significant corruption cases of recent years, Kwabena Adu-Boahene, who served as Director-General of the National Signals Bureau during former President Nana Addo Dankwa Akufo-Addo’s administration, and three co-defendants have been charged with misappropriating over GH₵49 million (approximately US$7 million) in a sophisticated scheme centred around a phantom cybersecurity system.

The charges filed yesterday in Ghana’s High Court reveal an elaborate web of deception involving public officials, private companies, and international transactions that allegedly diverted taxpayer funds to finance luxury lifestyles during the previous government’s tenure.

The Accusations

According to the charge sheet filed by Attorney General Dr. Dominic Akuritinga Ayine, Adu-Boahene allegedly abused his position as Director of the Bureau of National Communications (BNC) in the Akufo-Addo administration to divert government funds intended for a national cybersecurity defence system. The prosecution contends that while a contract with Israeli firm ISC Holdings Limited was signed in January 2020, no cybersecurity system was ever delivered to the government.

Co-defendants include Adu-Boahene’s wife, Angela Adjei Boateng; former bank relationship officer Mildred Donkor; and Advantage Solutions Limited, a corporate entity allegedly used to launder the proceeds. The charges collectively paint a picture of a carefully orchestrated scheme involving parallel public and private entities with deliberately similar names.

The Alleged Scheme

RelatedPosts

Cedi Posts Strongest Rally in Years, Up 24.1% Against Dollar in 2025

Public Debt Climbs to GHS 769.4bn in First Quarter of 2025

Rising Trends in Tobacco Products Demand Urgent Youth-Led Action in Africa

Court documents detail how the defendants allegedly created a private company named “BNC Communications Bureau Limited” that closely mimicked the name of the governmental Bureau of National Communications. Prosecutors claim that the previous administration diverted public funds through this private entity.

The prosecution alleges that between February and March 2020, three separate cheques totalling GH₵49.1 million were drawn from the National BNC account and deposited into the private company’s account at Universal Merchant Bank:

  • February 5, 2020: GH₵27.1 million
  • March 18, 2020: GH₵1 million
  • March 30, 2020: GH₵21 million

The funds were allegedly then funnelled through what investigators describe as “a complex web of companies” to purchase real estate in Accra, Kumasi, and London; luxury vehicles; and to finance an extravagant lifestyle.

Political Context

This case represents one of the most significant corruption allegations to emerge from the Akufo-Addo era (2017-2025). The current administration has pledged to investigate alleged financial improprieties from the previous government, with this case potentially becoming a landmark in those efforts.

The timing of the alleged fraud is noteworthy, occurring in early 2020 during Akufo-Addo’s first term and just months before the December 2020 elections that resulted in his second term. The case has now come to light following the transition of power after the 2024 elections.

Systemic Failures

The case highlights potential weaknesses in Ghana’s procurement and financial oversight systems during the previous administration. Investigators found that no cybersecurity system matching the contract specifications was ever received by the Bureau of National Communications or its successor agency, the National Signals Bureau. The inventory records of the National Security Secretariat confirm no such equipment was ever logged into government stores.

The Defense and Arrests

The police arrested the defendants in March and April 2025, apprehending Adu-Boahene upon his arrival from London at Kotoka International Airport on March 20. According to the court documents, all three individual defendants have denied wrongdoing in their police statements. Adu-Boahene reportedly denied any involvement with the companies in question; investigators claim evidence shows he directed operations and authorised fund transfers.

Legal Implications

The eleven counts against the defendants include stealing, conspiracy, defrauding by false pretences, wilfully causing financial loss to the state, using public office for profit, obtaining public property by false statements, and money laundering. These charges carry potentially severe penalties under Ghana’s Criminal Offences Act of 1960 and the Anti-Money Laundering Act of 2020.

Analysis

This case represents a significant test for Ghana’s anti-corruption efforts and judicial system. The involvement of high-ranking officials from the country’s security apparatus during the previous administration raises questions about oversight and accountability in sensitive sectors of government under former President Akufo-Addo.

As this case proceeds through the judicial system, it will be closely watched as a barometer of Ghana’s commitment to fighting corruption at the highest levels of government, regardless of political affiliation or which administration was in power when alleged crimes occurred.

Tags: By Norvan Acquah-Hayford | NorvanReportsDirector-General of the National Signals BureauFormer National Signals Bureau Director Faces Multi-Million Dollar Fraud ChargesGH₵49 million (approximately US$7 million)High Profile Corruption Case Rocks Ghana's Security SectorNorvanReportsPresident Akufo-Addo

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

Ghana Premier League: Emmanuel Mamah Scoops Top Prize as April’s Top Performers are Recognized

Piastri and Norris Gear Up for an Unpredictable Monaco Challenge

Cameroon’s Cotton Revival Knits Past Resilience to Future Gain

Tullow Oil Targets $500m Debt Reduction with Key Asset Sales in Gabon and Kenya

Why Meta is in Trouble in Nigeria and What This Means For Facebook, Instagram and Whatsapp Users

What You Need to Know Ahead of the Monaco Grand Prix Weekend

Trending

Business

Cedi Posts Strongest Rally in Years, Up 24.1% Against Dollar in 2025

May 23, 2025

Cedi Posts Strongest Rally in Years, Up 24.1% Against Dollar in 2025 Ghana’s cedi has staged a...

Public Debt Climbs to GHS 769.4bn in First Quarter of 2025

May 23, 2025

Rising Trends in Tobacco Products Demand Urgent Youth-Led Action in Africa

May 23, 2025

Ghana Premier League: Emmanuel Mamah Scoops Top Prize as April’s Top Performers are Recognized

May 23, 2025

Piastri and Norris Gear Up for an Unpredictable Monaco Challenge

May 23, 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.Ok