Attorney-General and Minister for Justice, Dr. Dominic Ayine, has accused former Deputy Director-General of the National Signals Bureau (NSB), Kwabena Adu Boahene, and his wife, Angela Adjei-Boateng, of misappropriating over GHC35 million of state funds.
Providing details from an investigation conducted by the Economic and Organised Crime Office (EOCO), Dr. Ayine revealed that the couple orchestrated fraudulent financial transactions under the guise of a government contract.
Suspicious Transfers and Missing Funds
Dr. Ayine explained that on February 6, 2020, Mr. Adu Boahene authorized a transfer of GHC27.1 million from the National BNC’s account at Fidelity Bank to a private BNC account at UMB. This payment was supposedly meant for the purchase of a cyber defense system from ISC Holdings in Israel, valued at $7 million.
Subsequent reviews of financial transactions uncovered that only GHC9,537,520 (equivalent to $1,750,000 at the time) was sent to ISC Holdings, with Mr. Adu Boahene allegedly presenting a fraudulent contract and invoice to support the payment.
Further investigations revealed that on March 18 and March 30, 2020, he transferred an additional GHC21 million from the National BNC Director’s account to the same private account. In total, he funneled GHC49 million into the private BNC account—exactly matching the cedi equivalent of the $7 million software purchase. However, no further payments were made to ISC Holdings.
Funds Used for Personal Gain
A deep dive into the private BNC account showed that after transferring the $1.75 million to ISC Holdings, Mr. Adu Boahene and his wife diverted the remaining funds for personal use, including transferring money to local third parties.
“The difference between GHC49 million, being the money Mr. Boahene transferred from the bank accounts of the National BNC to his private BNC, and GHC9.5 million, being the money he actually paid to ISC Holdings for the software, ended up with him and his wife. The sum of GHC35,462,480 of taxpayers’ money went into their private pocket,” Dr. Ayine stated.
A Complex Web of Companies
Investigations revealed that BNC Communications Limited, the company at the center of the scandal, is ultimately owned by Advantage Solutions Limited. Additionally, ten other companies, all linked to Mr. Adu Boahene and his wife, were identified through a complex shareholding structure.
“For purposes of investigation, the names of those companies will not be disclosed at this stage,” the Attorney-General noted.
If what suspect Adu Boahene and his wife have done is like a “Thrilla in Manila,” brace yourself for a rumble in the jungle in the next few weeks. – Attorney General Dr. Dominic Ayine#TV3GH pic.twitter.com/zsgfnQUw4K
— #TV3GH (@tv3_ghana) March 24, 2025
A Warning to Banks and Companies
Dr. Ayine issued a stern warning to all financial institutions and company executives associated with Adu Boahene’s business dealings, cautioning them against making any asset transfers.
“I want to warn any Executive, Director or employee of each of the companies knowing that Mr. Adu Boahene has been arrested. If they make any movement of assets, we will track and arrest them and prosecute them.
So they are all warned. All banks are also warned that if we see any wire transfers or cash withdrawals on any of the accounts belonging to Mr. Adu Boahene and his companies, the Bank Managers and all their employees who are involved in those transfers will equally be arrested.”
He added, “We are monitoring all their bank accounts from the Financial Intelligence Centre.”
Meanwhile, Deputy Attorney-General Dr. Justice Srem-Sai has assured that both Kwabena Adu Boahene and his wife, Angela Adjei-Boateng, are being treated fairly while in custody.
