Former Buffer Stock CEO Faces Charges Over GHS 40 m Embazzlement
Oct 23, 2025
Former Buffer Stock CEO Faces Charges Over GH₵40 Million Embezzlement
October 23 2025 Ghana's Attorney-General and Minister for Justice, Dr. Dominic Ayine, has announced plans to file criminal charges against the former CEO of the National Food Buffer Stock Company, Hanan Abdul-Wahab, and his wife, Faiza Seidu Wuni, over alleged embezzlement of over GH₵40 million in state funds.
The Allegations
Speaking at a press briefing in Accra today, Dr. Ayine revealed that investigations by the Economic and Organised Crime Office (EOCO) uncovered that the couple embezzled funds earmarked for the School Feeding Programme during Abdul-Wahab's tenure as CEO from 2017 to 2024.
According to the Attorney-General, the stolen funds were laundered through seven different enterprises. A breakdown of the transactions shows:
- Sawtina Enterprise to Hanan Abdul-Wahab: GH₵16,179,137.25
- Sawtina Enterprise to Alqarni Enterprise: GH₵23,913,964.90
- Sawtina Enterprise to Fa-Hausa Ventures: GH₵500,000.00
- Sawtina Enterprise to Chain Homes Ghana Ltd: GH₵550,000.00
Total Amount: GH₵40,493,102.15
Coordinated Arrests
On June 25, 2025, EOCO conducted a coordinated operation that resulted in the arrest of Abdul-Wahab, his wife Faiza Seidu Wuni, and James Atieku, the Buffer Stock manager for the Northern Sector based in Tamale.
Charges to be Filed
Dr. Ayine announced that the couple will face multiple charges including:
- Stealing
- Conspiracy to steal
- Willfully causing financial loss to the state
- Using public office for profit
- Obtaining public property by false statements
- Money laundering
Additional Findings
The Attorney-General further alleged that between 2017 and 2024, Abdul-Wahab, in collaboration with Richard Sam Asante and Bismark Owusu Boakye, orchestrated the transfer of GH₵78,269,084.00 from Buffer Stock Company accounts to a private company linked to Abdul-Wahab, his wife, and Buffer Stock staff at Republic Bank and Ecobank.
Evidence also shows that between December 2017 and May 2019, Abdul-Wahab transferred GH₵5,495,780.04 from Buffer Stock Company accounts to two bank accounts belonging to Aludiba Enterprise, one of his companies at Republic Bank and Absa.
Background
The case represents one of the latest financial scandals to emerge from the previous Akufo-Addo administration, with the Attorney-General's office promising to pursue formal charges in the coming days. Full details of the seven enterprises used to launder the funds are expected to be disclosed in the charge sheet.
