Arrests, frozen funds in PDS-ECG, COCOBOD cases – What we know so far

Ghana’s anti-corruption and investigative agencies have intensified ongoing probes into high-profile financial and governance cases, with recent developments pointing to arrests linked to both the Power Distribution Services (PDS) transaction and alleged irregularities at the Ghana Cocoa Board (COCOBOD).

PDS-ECG Investigation: Four arrested in joint EOCO-BNI operation

The Economic and Organised Crime Office (EOCO), working in collaboration with the Bureau of National Intelligence (BNI), last week arrested four individuals as part of an expanded investigation into the suspended PDS concession agreement.

This was also confirmed by Felix Kwakye Ofosu, Minister of Government Communications and Spokesperson to the President, in a Facebook post on Monday, May 4, 2026.

However, GhanaWeb has learnt that those arrested over the weekend include one foreign national and three Ghanaians.

Four PDS officials arrested over alleged ECG funds transfer – Kwakye Ofosu

Among them are two lawyers from the Minka-Premo Law Firm; the Board Chairman of PDS, Philip Ayensu; and other senior management figures associated with the company.

The arrests are linked to long-running scrutiny of the PDS transaction, which was suspended by the erstwhile Akufo-Addo government over alleged breaches of contractual terms and governance lapses.

Sources further indicate that investigators have frozen millions of cedis in accounts belonging to individuals and entities believed to be connected to the case, as part of efforts to preserve assets during ongoing investigations.

Former COCOBOD officials arrested

In a separate but related development, EOCO reportedly arrested two former senior officers of COCOBOD over the weekend while they were allegedly preparing to travel outside the country.

Sources speaking to GhanaWeb on condition of anonymity say the arrests form part of broader investigations into alleged financial misconducts within the cocoa regulator.

The probe reportedly covers suspected offences including procurement-related fraud, criminal negligence, and money laundering, with potential financial exposure running into billions of Ghana cedis.

Neither EOCO nor the BNI has officially confirmed detailed charges in either case.

However, both investigations are ongoing, with authorities said to be reviewing financial records, transactions, and contractual arrangements linked to the institutions.

Further details are expected as investigations progress.