Gov’t freezes assets of former Buffer Stock CEO over corruption scandal

The government has frozen multiple properties, bank accounts, and luxury assets belonging to former National Food and Buffer Stock Company (NAFCO) CEO, Hanan Abdul-Wahab, and his wife, Faiza Seidu Wuni.

The move follows a major investigation by the Economic and Organised Crime Office (EOCO), which uncovered a GH¢78 million corruption and money-laundering operation allegedly orchestrated by the couple between 2017 and 2024.

Announcing the action at a press briefing in Accra on Wednesday, October 22, 2025, Attorney-General Dr. Dominic Ayine said the suspects diverted state funds meant for food suppliers and the School Feeding Programme into private companies they secretly owned. “We have secured all identified assets linked to this crime to ensure recovery of public funds,” he declared.

The seized assets include a five-bedroom luxury residence at Airport Hills valued at $1.6 million, a three-bedroom house at Cantonments worth $600,000, and a 17-bedroom hotel in Tamale. EOCO also froze a GH¢10 million fixed deposit held by the former CEO at Republic Bank, alongside several other corporate accounts connected to the illicit transactions.

Dr. Ayine further disclosed that investigators confiscated high-end vehicles, 61 designer handbags, and land documents tied to multiple real estate acquisitions in Accra and Tamale. “The state will not allow stolen funds to be converted into private wealth. Every pesewa will be traced and recovered,” he said.

The Attorney-General confirmed that formal charges, including stealing, conspiracy, and money laundering, will be filed against the couple on Friday, October 24, 2025. He assured that the government remains committed to pursuing all those involved in the scandal.

EOCO has also begun tracing possible offshore accounts linked to the suspects and is working with international partners to repatriate any foreign-held assets. Dr. Ayine stressed that the case should serve as a warning to public officials who abuse their positions for personal gain. “Accountability is not optional — it is the law,” he concluded.