Key Speaking Points – EOCO Investigation into Kwabena Adu-Boahene
- Background & Role in National Security
- Kwabena Adu-Boahene is the former Director-General of the National Signals Bureau (NSB), which replaced the Bureau of National Communication (BNC) in 2020.
- He controlled Ghana’s signal infrastructure from 2017 to 2025.
- As Director of BNC, he was a co-signatory to the BNC’s Directors’ Account at Fidelity Bank.
- Fraudulent Private Company Setup
- In 2018, while heading the National BNC, Adu-Boahene and his wife, Angela Adjei-Boateng, incorporated a private company called “BNC Communication Bureau Limited” (Private BNC).
- The name closely resembled Ghana’s official security agency (National BNC), creating a deceptive similarity.
- In October 2018, they opened a corporate bank account at UMB Bank, allowing either director to authorize transactions.
- The $7 Million Cyber Defense Contract Fraud
- On January 30, 2020, Adu-Boahene signed a $7 million contract with Israeli company ISC Holdings Ltd. to purchase a Cyber Defense System Software for the Government of Ghana.
- February 6, 2020: He transferred GH₵ 27.1 million ($4.6 million) from the National BNC’s Operations Account at Fidelity Bank to his Private BNC account at UMB Bank under the pretext of paying for the software.
- March 18 & 30, 2020: He moved GH₵ 22 million more to his Private BNC account, bringing the total amount transferred to GH₵ 49 million ($7 million).
- Only GH₵ 9.5 million ($1.75 million) was sent to ISC Holdings, while the remaining GH₵ 39.46 million ($5.25 million) was diverted into personal use.
- To justify the fraudulent transfers, he forged an invoice from ISC Holdings.
- Personal Enrichment & Laundering Scheme
- No further payments were made to ISC Holdings after the initial transfer.
- The remaining GH₵ 39.46 million ($5.25 million) was used for personal investments, third-party transfers, and unknown transactions by Adu-Boahene and his wife.
- The funds were funneled through a network of at least 10 companies, including Advantage Solutions Limited, which was the ultimate beneficiary of Private BNC.
- Investigators believe these companies were set up to launder stolen funds, and they are currently being tracked.
- Arrest & Investigations
- March 21, 2025: Adu-Boahene was arrested at Kotoka International Airport after attempting to evade detection by changing travel plans from Dubai to London and back to Ghana.
- He was caught possessing multiple service passports, raising suspicions of dual citizenship and escape plans.
- EOCO is continuing investigations into financial crimes linked to him and his network of companies.
Ange-La Adjei-Boateng’s Involvement in the Scheme
Ange-La Adjei-Boateng, Adu-Boahene’s wife, was a co-owner of multiple properties purchased with the stolen funds, making her an active beneficiary of the fraudulent transactions.
She was directly involved in the incorporation of the fraudulent companies, acquisition process, handling financial transactions linked to property purchases and managing funds linked to the fraudulent transfers.
Bank records show that funds withdrawn by Adu-Boahene were used for real estate payments that she signed off on or managed, indicating her knowledge of the illicit origins of the money.
List of Key Transfers.
February 11, 2020 – GHC 16,000,000 was deposited as a fixed deposit, sourced from an initial GHC 27,100,000 transfer from BNC National Security.
April 3, 2020 – GHC 7,250,000 was withdrawn in cash by Kwabena Adu-Boahene, taken from a second transfer of GHC 21,000,000 from BNC National Security to BNC Limited.
April 24, 2020 – GHC 1,500,000 was withdrawn in cash, and on the same day, GHC 1,566,000 was used for real estate payments.
List of Properties Traced to Stolen Cash
No. 2 Stream Part Drive, Mayfair Estates, Accra – Valued at $1,000,000 (GHC 15 million), directly linked to funds from BNC transfers.
No. 6 Edith Avenue, Mayfair Estates, Accra – A $500,000 deposit was made to purchase five houses.
No. 7 Edith Avenue, Mayfair Estates, Accra – Valued at $200,000, an additional property under Adu-Boahene’s name.
No. 8 Edith Avenue, Mayfair Estates, Accra – Valued at $97,815, purchased through direct bank withdrawals.
No. 9 Edith Avenue, Mayfair Estates, Accra – Valued at $270,000, directly funded from withdrawn cash.
No. 10 Edith Avenue, Mayfair Estates, Accra – Valued at $150,000, with funds traced back to the April 24, 2020 withdrawal.
Vertex Properties, Oyarifa Gated Estate Development – Includes 27 houses, each valued at $295,000, with a total estimated worth of GHC 127,000,000.
Two Properties in London – Value undisclosed, but currently under investigation for offshore money laundering.
OTHER ORAL INVESTIGATIONS
National Service Scheme (NSS) Scandal
Eight suspects have been interrogated, with several cooperating with investigators.
Evidence confirms that NSS executives received direct payments from vendors and staff in a corrupt arrangement.
In November 2024, the NSS CEO and other senior officials allegedly paid a Ghanaian MP to suppress media reports exposing the fraud.
Investigations indicate a deep-rooted network of financial mismanagement and kickbacks within the NSS.
Skytrain Scandal
$2 million was illegally disbursed to a Skytrain project under questionable circumstances.
The funds were transferred at the request of Prof. Ameyaw Ekumfi (GIIF Chairman) and Mr. Solomon Asamoah (CEO of GIIF).
Mr. Asamoah fled to South Africa in February 2025 and has since relocated to Senegal to evade prosecution.
A review of GIIF board minutes confirmed that no board approval was granted for the disbursement, making the transaction illegal and unauthorized.
Investigations into National Service and Skytrain scandals will conclude by mid-April, with prosecutions expected to follow immediately.
Conclusion
The scale of corruption uncovered validates John Mahama’s assertion that Ghana is a “crime scene.”
Authorities are expanding the investigation to track additional stolen assets, offshore transactions, and accomplices.
Expect major legal actions, asset seizures, and criminal charges against key individuals in the coming weeks.
