AG Lists Properties Acquired by Former Buffer Stock CEO and His Wife With Alleged 'Corruption Money'
- Ghana's AG Dr Dominic Ayine has released a list of properties allegedly acquired by ex-NAFCO boss Wahab Abdul-Hannan and his wife
- The properties, including luxury homes, were allegedly funded by money linked to NAFCO operations between 2018 and 2024
- The Auditor General said legal action was underway to recover the assets and prosecute those involved in the financial scandal
- Nabil Abubakar, a member of the NPP, shared his views on this in an interview with YEN.com.gh
The Attorney-General and Minister of Justice, Dr Dominic Ayine, has released a list of properties purportedly acquired by the former Chief Executive Officer of the National Food Buffer Stock Company (NAFCO), Alhaji Wahab Abdul-Hannan Aludiba, and his wife, Faiza.
Source: Facebook
The properties were reportedly acquired between 2018 and 2024 through illicit financial activities linked to the operations of NAFCO.
AG: alleged properties acquired by ex-NAFCO boss
Properties allegedly acquired by Abdul-Hannan and Faiza, as identified by the Attorney-General, include the following:
- Five-bedroom house at Chain Homes: valued at US$1,625,000
- Three-bedroom house at Cantonments: valued at US$600,000
- Plots of land at Airport Development Area: valued at US$750,000
- 17-bedroom boutique hotel at Gumani, Tamale: valued at US$250,000
- Four-bedroom bungalow at Dzorwulu, Accra: valued at GH₵4,142,451
- 0.32-acre government land: valued at GH₵307,200.
Read the Facebook post below:
Aside from these, the Attorney-General also released a list of other properties reportedly linked to Abdul-Hannan.
The said properties are:
- A filling station under construction along the Tamale-Bolgatanga highway
- A property at Labone built on state land
- A property at Airport Hills, east of Kotoka International Airport.
Addressing the media during a press conference on Wednesday, October 22, 2025, Dr Ayine further alleged that investigations traced the funding sources for the properties to illicit financial activities linked to NAFCO's operations during Abdul-Hannan's tenure.
Attorney-General said he would charge the former Buffer Stock Company Limited CEO and three others with various offences on Friday, October 24, 2025.
Read another Facebook post about the allegations below:
Other allegations against the former NAFCO CEO
According to the Attorney-General, between 2017 and 2024, Abdul-Hannan, in concert with Richard Sam-Asante and Bismark Owusu Bokaye, orchestrated the transfer of GHS78,269,084.04 from the bank accounts of the Buffer Stock Company to a private company linked to Hanan Abdul-Wahab, his wife, and the staff of the company at Republic Bank and Ecobank.
The former NAFCO CEO is also at the centre of allegations involving money laundering transfers. He is alleged to have, through Sawtina Enterprise, made several transfers to entities linked to himself and other companies.
These transfers, according to the Attorney-General, border on acts of money laundering.
Below are the alleged transfers made by Abdul-Hannan through Sawtina:
- Transfer to Wahab Abdul-Hannan: GH₵16,179,137.25
- Transfer to Alqarni Enterprise: GH₵23,913,964.90
- Transfer to Fa-Hausa Ventures: GH₵500,000.00
- Transfer to Chain Homes Ghana Ltd: GH₵550,000.00.
Abdul-Hannan and his wife were arrested in June 2025 amid allegations of financial impropriety, including tax evasion, money laundering, and causing financial loss to the state.
They were later granted bail of GH₵50 million and GH₵30 million, respectively.
NPP activist calls for fair legal process
Reacting to this in an interview with YEN.com.gh, Nabil Abubakar, a member of the NPP, stated that he was genuinely surprised by the allegations against the former CEO of the National Food Buffer Stock Company.
He added that, however, he believed in the principle that every accused person remains innocent until proven guilty.
Abubakar further stated that the legal process should take its full course without prejudice.
"I was genuinely surprised by the allegations against the former CEO of the National Food Buffer Stock Company. However, I believe in the principle that every accused person remains innocent until proven guilty. The legal process should take its full course without prejudice," he said.
Source: Facebook
NPP MPs protest over NAFCO CEO's arrest
Earlier, YEN.com.gh reported that the Minority in Parliament and the NPP had planned a protest march to the EOCO on July 7, 2025.
They demanded the release of former NAFCO CEO Abdul-Hannan over what they termed as the failure to build a solid case against him.
He was detained by the Economic and Organised Crimes Office for over a week despite reportedly meeting the conditions for his bail.
Proofreading by Bruce Douglas, copy editor at YEN.com.gh.
Source: YEN.com.gh
