Dr. Edwin Alfred Provencal
The Economic and Organised Crime Office (EOCO) apprehended former Bulk Oil Storage and Transport Company Limited (BOST) CEO, Dr. Edwin Alfred Provencal, at Kotoka International Airport on November 10, 2025, while attempting to travel to Maputo, Mozambique.
According to sources, EOCO officials intercepted him to ensure that the ongoing probe into BOST’s operations was not compromised, indicating that his travel was unauthorised.
The arrest follows a forensic risk assessment report by policy think tank IMANI Africa, which alleged systemic fraud, fiscal leakages, and governance failures in the Gold for Oil programme.
The report also flagged concerns about former BOST officials and a partner company accused of exploiting the programme through offshore assets, trade-based money laundering, and fiduciary breaches. It further noted that all international suppliers involved in the scheme had opaque ownership structures linked to high-risk jurisdictions, including Dubai, Cyprus, and Switzerland.
Former General Secretary of the New Patriotic Party (NPP), John Boadu, has raised concerns over the arrest of Dr. Provencal, emphasising that due process must be observed.
According to Boadu, Dr. Provencal’s name had been on a flight watchlist since October 8, a development which the former BOST boss was allegedly unaware.
In a report by Adomonline on November 11, 2025, Boadu stated that while the NPP supports accountability and lawful prosecution, investigation must be conducted transparently and fairly.
He further questioned the freezing of suspects’ bank accounts, arguing it could impede access to legal representation.
Refuted Allegation
Following the release of the report, Dr. Provencal has vehemently refuted the allegation levelled by IMANI Africa, stating that the necessary checks were conducted before engaging any partner.
“Every partner we selected, there was some due diligence by BOST, there was due diligence by the Financial Intelligence Centre, and further due diligence by the Bank of Ghana (BoG) before they were onboarded onto the programme. So, I’m at a loss as to what is being discussed,” he told Bernard Avle on Citi FM’s Eyewitness News.
Dr. Provencal emphasised that petroleum products imported under the scheme were traceable and fully accounted for.
“There’s traceability of all the molecules that came into the country. So, I’m at a loss as to why products could not be accounted for. If products couldn’t be accounted for, the Auditor General and BoG would have flagged it when they audited BOST.
“Every molecule that goes to the market, the Ghana Revenue Authority (GRA) and National Petroleum Authority (NPA) ensure that the taxes and levies are slapped on it. So far as every molecule that came into the country from the Gold for Oil programme, there’s a paper trail and accountability. So, I’m at a loss as to how there could be leakages,” he explained.
BY Prince Fiifi Yorke