Former GIHOC MD Maxwell Kofi Jumah Granted GH¢55m Bail, But Remains in EOCO Custody
- Former GIHOC Distilleries MD Maxwell Kofi Jumah has been granted GH¢55 million bail by the EOCO following his recent
- However, he remains in custody as his legal team struggles to meet the stringent bail conditions
- The Ahanti Regional Communication Director of the NPP, Paul Yandoh, has criticised the bail amount as excessive and difficult to justify
Ghana’s top stories, now easier to find. Discover our new search feature!
The former Managing Director of GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, has been granted bail by the Economic and Organised Crime Office (EOCO).
This follows his arrest on Wednesday, April 29, 2026 at his Kumasi residence by officials of EOCO over ongoing investigations into alleged financial irregularities.
Source: UGC
Nearly 24 hours after his arrest, Kofi Jumah was granted bail of GH¢55 million but remains in custody, as his legal team struggles to meet the conditions.
In a report by Citi News, the Ashanti Regional Director of Communications for the New Patriotic Party (NPP), Paul Yandoh, indicated that the bail terms are proving difficult to satisfy due to the scale of the amount involved.
“As of last night, he was given a bail bond of 55 million Ghana cedis before he could be released from custody. I don’t have such an amount to come and bail him,” he said.
He added that efforts to secure bail have stalled, noting that Kofi Jumah's lawyers are unable to identify assets meeting the required threshold.
“The lawyers cannot find assets that can amount to that figure… so he is still in custody,” he added.
Paul Yandoh consequently questioned the basis for the bail sum, describing it as excessive in relation to the allegations under investigation.
“How can somebody go and sell scrap… and you are calling for over 550 million? Why?” he asked.
Kofi Jumah's first arrest occurred in 2025
Kofi Jumah’s arrest followed a raid on his Kumasi residence as part of EOCO’s ongoing investigation into possible breaches of public financial management protocols during his tenure at GIHOC Distilleries.
This was followed by an arrest by National Security officers in 2025.
According to reports, the officers arrived at his home on June 29, 2025, and presented an arrest warrant displayed on a mobile phone.
Despite his requests, Jumah was not allowed to change his clothes before being taken to the Ashanti Regional Police Command.
He is under investigation for alleged financial impropriety during his tenure at GIHOC Distilleries, including the following:
Questionable vehicle acquisition: Purchasing a Genesis G90 sedan valued at over $100,000 for just GH¢4,943.11 - approximately 5% of its actual value.
Unauthorised retention of state vehicles: Keeping two official vehicles, including an Audi worth over $60,000, without the approval of the board - one of the vehicles has since been recovered and returned to Accra.
Unauthorised sale of company properties: Selling GIHOC properties in Tema valued at over $700,000 without the necessary approvals.
Alleged inflation of staff numbers, manipulating staff figures, which reportedly placed an undue financial burden on the company.
Kofi Jumah was subsequently granted bail in the sum of GH¢500,000 with two sureties, following his arrest in connection with the alleged theft of company vehicles.
Source: UGC
Mahama appointees fight over state warehouses
Earlier, YEN.com.gh reported that Gloria Huze, the Ashanti Regional Coordinator for the Ghana School Feeding Programme, and the MCE for Ejisu, Jerryne Asante, were reportedly in a dispute over state warehouses.
Madam Gloria accused the MCE of renting out the properties and keeping the money for herself, adding that she called the police on her when she attempted to use one of the warehouses.
She made these allegations after the MCE accused her of mobilising thugs to attack her at her office over the use of state warehouses in the Ejisu Municipality.
Source: YEN.com.gh
