News
Attorney general outlines alleged Exim Bank fraud involving Wontumi Farms
The Attorney General, Dominic Ayine, has disclosed that investigations have uncovered what he described as clear acts of fraud involving Chairman Wontumi and his company, Wontumi Farms Limited, in relation to a loan obtained from the Ghana Exim Bank.
Speaking at the Government Accountability Series, he explained that Chairman Wontumi and the company made false claims to the bank in order to secure a loan facility, which they eventually obtained.
According to him, the company claimed the funds were to be used to purchase farming equipment, but investigations showed that the equipment was never bought.
He noted that the farming project itself never took off and, as a result, no young people were employed at Asare Nkwatia as earlier promised.
He stressed that beyond the failure to execute the project, investigators found that the company and its director and chief executive officer forged a receipt to mislead Exim Bank into believing that the loan conditions had been met.
He pointed out that these actions went beyond simple breaches of a loan agreement and amounted to criminal conduct, particularly given that the alleged acts involved a regional chairman of the then ruling party.
He explained that based on the evidence gathered by the Economic and Organised Crime Office, a decision has been taken to prosecute Wontumi Farms Limited and its directors.
According to him, the charges will include defrauding by false pretences, forgery and causing financial loss to the state, involving an amount of GH₵24,255,735.
He clarified that the figure represents the principal loan sum together with the interest accrued.
By: Jacob Aggrey
President John Dramani Mahama has visited the Akosombo Dam to assess the impact of a fire incident at a substation operated by the Ghana Grid Company.
The fire is reported to have caused the loss of more than 1,000 megawatts from the national power grid, affecting electricity supply in parts of the country.
During the visit, he inspected ongoing restoration works and received briefings from engineers on efforts to restore power. He commended them for what he described as a swift and professional response to the situation.
According to him, the government remains committed to restoring stable electricity supply as quickly as possible.
He added that steps are also being taken to strengthen the resilience of Ghana’s energy infrastructure to prevent similar incidents in the future.
The Ghana Grid Company has not yet provided a detailed timeline for full restoration, but work is ongoing to bring affected systems back on stream.
By: Jacob Aggrey
Ghana’s Finance Minister, Cassiel Ato Forson, says he and his deputy have publicly filed their annual tax returns to demonstrate leadership and encourage compliance among citizens.
In a facebook post, he explained that the move was meant to show that public officials must lead by example when it comes to fulfilling civic duties.
“Leadership must be demonstrated, not declared,” he said.
He commended Ghanaian taxpayers for their continued contribution to national development, noting that tax compliance plays a key role in sustaining government activities.
According to him, paying taxes is both a legal and moral responsibility. He stressed that all citizens, including public officials, professionals, and businesses, are equal before the law and must meet their tax obligations.
He added that tax revenue is essential for funding key sectors such as education, healthcare, infrastructure, and security.
The minister praised the Ghana Revenue Authority for its work, especially during the ongoing Tax and Good Governance Month in April. He said the initiative helps to educate the public and promote voluntary compliance.
He urged the authority to intensify public education and continue reforms aimed at simplifying tax processes, reducing compliance costs, and improving transparency.
He further encouraged individuals and businesses that are yet to file their returns to do so promptly, adding that support systems and digital platforms are available to assist them.
He said building a strong tax culture would strengthen the country’s economy, improve accountability, and promote fairness in society.
By: Jacob Aggrey
