Abdul-Wahab Hanan
The Attorney General and Minister for Justice, Dr. Dominic Ayine, has announced the freezing of assets of former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, and his wife, Faiza Seidu Wuni, following alleged financial misconducts and acquisition of high-value properties using public funds.
Addressing journalists at the Presidency yesterday, as part of the Government Accountability Series, Dr. Ayine disclosed that investigators have frozen a fixed deposit account belonging to Mr. Hanan at Republic Bank’s Labone Branch in Accra, containing GH¢10 million.
He said steps are also underway to confiscate several vehicles and over 61 luxury handbags linked to the couple as part of ongoing investigations.
Dr. Ayine said between 2017 and 2024, Abdul-Wahab Hanan in concert with Richard Sam Asante and Bismark Owusu Boakye allegedly orchestrated and transferred GH¢78,269,084.04 from the bank account of Buffer Stock Company to a private company linked to him, his wife and staff of Buffer Stock Company at Republic Bank and Ecobank.
“Evidence showed that the funds were instantly retransferred to companies owned by Hanan Abdul Wahab himself and entities owned and associated with Hanan and his wife,” Dr. Ayine pointed out.
Money Laundering
The Attorney General also disclosed that the investigators also uncovered a sophisticated money laundering operation involving suspicious transfers amounting to GH¢40.5 million through Sawtina Enterprise, a company allegedly linked to the former Buffer Stock CEO.
According to him, some of the properties traced by the Economic and Organised Crime Office (EOCO) and suspected to have been acquired illegally by the former Buffer Stock CEO include a five-bedroom house at Chain Homes, valued at $1.625 million, a three-bedroom house at Cantonments, purchased for $600,000, multiple plots of land at Airport Development Area, worth $750,000.
Others are a 17-bedroom boutique hotel in Gumani, Tamale, acquired for $250,000, a four-bedroom bungalow at Dzorwulu, Accra, valued at GH¢4,142,451, and a 0.32-acre parcel of government land, purchased for GH¢307,200.
Other properties alleged to have been acquired by Abdul-Wahab Hanan, especially in Tamale, according to the Attorney General, are three storey building (Chicken Republic) situated at Estate Junction, and a five-bedroom mansion at Kanvili, Dorado Street.
The rest are three-bedroom house at Kpalsi, Tamale, one storey building, Number 10, Selby Gardens at Achimota in Accra, 0.2 acre plot of land at Estate Junction, Tamale, and 0.29 acre land close to Workers College in Tamale.
Between October 2019 and January 2022, Mr. Hanan also allegedly orchestrated some suppliers to transfer an amount of GH¢11,998.830.48 to an entity owned by a staff of Buffer Stock, and later instructed the staff to retransfer the funds to a company owned and run by the former Buffer Stock CEO and his wife.
Dr. Ayine further stated that in July, 2022, investigations found that Abdul-Wahab Hanan transferred GH¢251,050 from Buffer Stock Account at Republic Bank belonging to Energy Partners Ltd, a company co-owned by him and the Head of Corporate Affairs of Buffer Stock Company, Emmanuel Arthur.
Denial
Meanwhile, Mr. Hanan has denied all the allegations of corruption levelled against him, describing the claims as “untrue and deeply unfortunate.”
In a statement released after the Attorney General’s address, he said he had never been involved in the matters referred to by the Attorney General, and has instructed his lawyers to take steps to safeguard his reputation.
“I wish to state, respectfully, that these claims are untrue and do not reflect the facts of the matter. I have no involvement in the issues being referred to, and I find the comments deeply unfortunate,” the statement read.
He added that his legal team is reviewing the situation and will advise on appropriate actions, including the possibility of pursuing legal remedies.
“I look forward to the opportunity to present my side and to have my day in court, where I am confident that the truth will be made clear,” he added.
By Ebenezer K. Amponsah