Ghanaian Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah, has been hit with three criminal charges by the Attorney-General's office over alleged financial misconduct linked to SIC Life Savings and Loans. Baffour Awuah, the Senior Partner of Sarkodie Baffour Awuah & Partners, is accused of misconduct related to his law firm's work for SIC Life, a matter that has garnered significant attention since late September. He voluntarily reported to the Economic and Organised Crime Office (EOCO) on October 1, 2026, a day after the High Court issued a warrant for his arrest.
On October 3, Baffour Awuah appeared before the High Court in Accra, where the charges were put to him. According to the charge sheet, the first count accuses the MP of conspiring with SIC Life's then Managing Director in 2024, while acting as the company's lawyer, to dissipate GH¢9.85 million belonging to SIC Life. The second count alleges that he caused the company a financial loss of the same amount in a business transaction. A third count accuses him of money laundering, alleging that he transferred GH¢1 million to the then Managing Director, knowing the money came from crime.
Prosecutors say the transfer came in the form of a cheque dated November 11, 2024, issued after he received the legal fees under the settlement. The amount, they argue, is almost half of the GH¢2.2 million fee, and the facts state that he has not told investigators what the money was for. Baffour Awuah has pleaded not guilty to all three counts. All allegations are yet to be proven in court, and he is presumed innocent until a court decides otherwise.
The case relates to SIC Life's engagement of Baffour Awuah's law firm in May 2020 to recover a GH¢6.3 million debt from Equity Savings and Loans. The High Court entered summary judgment of GH¢10.86 million in SIC Life's favour in July 2022. Land belonging to Equity at Adamorobe in Oyibi was attached in December 2023, but prosecutors allege that on March 14, 2024, it was purportedly sold to Eco Swiss Investment Limited for GH¢21.76 million, with the MP helping to arrange the deal.
Investigators say Eco Swiss had not been incorporated at the time, and a revised judgment on May 28, 2024, raised the debt to GH¢14.85 million. On July 18, 2024, SIC Life, Equity and Eco Swiss signed terms under which SIC Life accepted GH¢5 million in full settlement, and the terms also provided for GH¢2.2 million in legal fees to the MP and his firm. The State says the then Managing Director signed the terms with no record of prior approval.
Baffour Awuah's lawyer, Samuel Atta Akyea, maintains that the transactions arose from legal services the firm provided to SIC Life, argues that the parties agreed the settlement and the other side paid the fees, and rejects any suggestion of criminal conduct. Separately, Baffour Awuah has denied receiving GH¢2.2 million linked to the probe. The High Court has granted the MP GH¢10 million bail with two sureties, both fellow MPs, after concluding that he was not a flight risk.
The court ordered him to stay available to investigators, with return dates set for October 26 and November 2, 2026. He was also directed to deposit his passport. Speaker Alban Bagbin has since called for restraint and fairness in the exercise of coercive powers. Baffour Awuah's case has garnered significant attention, with many awaiting the outcome of the trial.
Key points
- Baffour Awuah faces three charges of financial misconduct related to SIC Life Savings and Loans case
- The charges include conspiracy, causing financial loss, and money laundering
- Baffour Awuah has pleaded not guilty to all three counts and has been granted GH¢10 million bail
