GH¢78m Buffer Stock Scandal: Former CEO's Properties and Luxury Lifestyle Uncovered
Accra ,October 22,2025 - A massive financial scandal has rocked Ghana's Buffer Stock Company Limited, with allegations of embezzlement and money laundering involving top officials, including former CEO Hanan Abdul-Wahab.
At a news media briefing on Tuesday October 22,2025 ,Attorney-GeneralDr. Dominic Ayine explained that Abdul-Wahab, alongside Richard Sam-Asante and Bismark Owusu Bokaye, orchestrated the transfer of GH¢78,269,084.04 from Buffer Stock Company's bank accounts to a private company linked to Abdul-Wahab, his wife, and Buffer Stock staff at Republic Bank and ECOBANK between 2017 and 2024.
The Economic and Organised Crime Office (EOCO) arrested Abdul-Wahab and his wife in June 2025, with investigations revealing several high-value properties in Accra, Tamale, and other locations, raising questions about the source of his wealth.
Abdul-Wahab's alleged properties include 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, a restaurant complex, "Chicken Republic," on Dagomba Lane, Tamale, and multiple properties in Windana, Pusiga District, Upper East Region.
Earlier ,the NPP Minority in Parliament condemned Abdul-Wahab's arrest and bail conditions, describing them as "punitive and excessive." His bail was set at GH¢50 million with two sureties, while his wife's bail was GH¢30 million.
The scandal has sparked outrage, with calls for accountability and transparency in government institutions.
Source – Lead News Online/Leticia Okpoti
