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Business News of Monday, 4 May 2026
Source: www.ghanaweb.com
Business News of Monday, 4 May 2026
Source: www.ghanaweb.com
Four individuals linked to the botched PDS deal have been arrested
Four individuals linked to the botched Power Distribution Services (PDS) arrangement have been arrested by the Bureau of National Intelligence (BNI) as part of ongoing investigations into the transfer of large sums of money believed to belong to the Electricity Company of Ghana (ECG).
The arrest comes amid heightened scrutiny over financial transactions involving PDS and its past operations in Ghana’s power distribution sector.
This was disclosed by Felix Kwakye Ofosu, Minister for Government Communications and spokesperson to the President, in a Facebook post on Monday, May 4, 2026.
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According to him, the suspects; Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh, were picked up last week in connection with the probe.
He noted that the investigation centres on the movement of substantial funds suspected to be linked to ECG.
“The Bureau of National Intelligence arrested the following persons affiliated with PDS last week as part of investigations into the transfer of large sums of money believed to belong to ECG,” he stated in the post.
Kwakye Ofosu added that all four individuals have since been granted bail pending further investigations.
Meanwhile, authorities have yet to provide further details on the scope of the investigation or possible charges.