Ghanaian Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah, has been arraigned on three charges related to the alleged settlement of a GH¢14.85 million judgment won by the state-owned SIC Life Savings & Loans Company Limited for GH¢5 million. The charges, filed at the High Court in Accra on October 3, 2026, include conspiracy to commit a crime through the intentional dissipation of public funds, intentionally causing financial loss to a public body, and money laundering.
According to the Attorney-General's charge sheet, the first two counts involve GH¢9.85 million, while the third concerns a GH¢1 million transfer to the then Managing Director of SIC Life. Prosecutors allege that Mr. Baffour Awuah's law firm was hired by SIC Life in May 2020 to recover a GH¢6.3 million debt from Equity Savings and Loans, and that the High Court gave judgment for SIC Life in July 2022.
The prosecution's case states that a 31.93-acre property at Adamorobe was attached in December 2023 with a reserve price of GH¢25 million, and by May 2024, the judgment debt had risen to GH¢14.85 million. Prosecutors claim that Equity then purported to sell the land to Eco Swiss Investment Limited, which allegedly was not incorporated until after the purported purchase.
The alleged deal, arranged with Mr. Baffour Awuah's help, resulted in SIC Life accepting GH¢5 million, while Eco Swiss was to pay the MP's firm legal fees of GH¢2.2 million and GH¢1 million in auctioneer's fees. The prosecution says SIC Life was left with barely three-fifths of the GH¢8.2 million Eco Swiss agreed to pay, and that investigators found no record of approval from SIC Life's board, shareholders, or the Ministry of Finance.
Further allegations include a GH¢1 million cheque written by Mr. Baffour Awuah to the then Managing Director on November 11, 2024, for which the MP has not provided an explanation. The prosecution says the investigation is ongoing. Mr. Baffour Awuah pleaded not guilty at his arraignment on October 3 and was granted GH¢10 million bail with two sureties.
The MP's lawyer, Samuel Atta Akyea, claims that Mr. Baffour Awuah's role was strictly tied to legitimate legal services for SIC Life. The MP had surrendered himself to the Economic and Organised Crime Office (EOCO) on October 1 and has urged prosecutors to prove their case in court.
The allegations against Mr. Baffour Awuah have not been proved in court, and he is due back in court on October 26.
Key points
- The three charges against Nana Agyei Baffour Awuah include conspiracy to commit a crime, intentionally causing financial loss to a public body, and money laundering.
- The alleged settlement of the GH¢14.85 million judgment for GH¢5 million resulted in SIC Life being left with barely three-fifths of the GH¢8.2 million agreed.
- Mr. Baffour Awuah's lawyer claims that the MP's role was strictly tied to legitimate legal services for SIC Life.
