Row over Ato Dadzie and SFO's Billions

Officials at the Serious Fraud Office (SFO) have given conflicting reasons for the withdrawal of ?4.7 billion from the accounts of the defunct National Investigations Committee sub- committee on Timber at the Bank of Ghana for the former chief of staff, Nana Ato Dadzie.

But Chronicle's investigations have established that ?3 billion out of the money was disbursed by Nana Ato Dadzie for purposes which Chronicle could not immediately ascertain.

Pursued to his Community 10 Tema residence, Mr. Dadzie could not be reached to defend allegations that most of the funds went into political campaign financing as his guard told this reporter that he had gone out.

The Acting Executive Director of the SFO, Mr Brian A. Sapati, told the Chronicle in a follow-up interview that ?1.7 billion the SFO withdrew from the Bank of Ghana was given to the institution to recapitalise for logistics and other staff benefits.

He confirmed Chronicle's inquiry that the SFO withdrew the money following the personal intervention of ex-president Rawlings after a report that the money at the Bank of Ghana was missing.

According to Sapati, accounts of the National Investigations Committee on Timber had been idle since the disbandment of the NIC in 1991.

This was not disclosed to the Serious Fraud Office.

He revealed that a BNI operative, Mr. Gustav Addae drew their attention to the existence of the account and following that the SFO petitioned the office of the then Chief of Staff Mr. Dadzie, who authorized the release of the money to the SFO but not without a fight with the Bank of Ghana, reports the Chronicle.