By Benjamin Nii Nai Anyetei
The Attorney-General and Minister for Justice, Dr. Dominic Ayine, has announced that the state will prosecute Percival Kofi Akpaloo, leader of the Liberal Party of Ghana, along with his wife and a company linked to them, over an alleged GH¢3,169,432.22 misappropriation of funds intended for a COCOBOD contract.
Speaking at the Government Accountability Series in Accra on Monday, Dr. Ayine said the case began after the Financial Intelligence Centre (FIC) flagged a suspicious transaction report submitted by First Bank Ghana Limited concerning an account belonging to Pomaa Universal Ghana Limited, a company connected to Mr. Akpaloo.
Following the alert, the Economic and Organised Crime Office (EOCO) launched investigations which revealed that Pomaa Universal Ghana Limited, owned by Akua Pomaa, had been awarded a GH¢29.5 million feeder roads contract by COCOBOD in December 2020. While initial payments were correctly deposited into Pomaa Universal Ghana Limited’s account, subsequent transactions raised concerns. Investigators found that Mr. Akpaloo allegedly incorporated another company with a slightly altered name, Pomaaah Ghana Limited, and between December 2022 and June 2024, deposited eight COCOBOD cheques, totaling GH¢3,169,432.22, into this new account.
Dr. Ayine stated that Akua Pomaa was unaware of the existence of Pomaaah Ghana Limited or the diverted funds until COCOBOD contacted her in June 2024 about outstanding balances. Investigators also found evidence that her signature was forged on the contract, using her former name, Mercy Owusu, without authorization.
First Bank Ghana Limited conducted its own internal investigation, confirming that Mr. Akpaloo had misrepresented ownership of the cheques and redirected them to the wrong account.
The suspects named in the case are Percival Kofi Akpaloo, Pomaaah Ghana Limited, and Delvin Akpaloo, his wife. Dr. Ayine said evidence points to offences including stealing, forgery, and money laundering.
The Attorney-General assured the public that the suspects will be formally charged after the Christmas holidays, once all documentation from COCOBOD and the bank is finalized.
