'I did not misappropriate loan; farm was destroyed by natural disaster' – Wontumi claims

Bernard Antwi Boasiako, popularly known as Chairman Wontumi and the Ashanti Regional Chairman of the New Patriotic Party (NPP), has attributed situations leading to the Ghana Export-Import (Exim) Bank legal issues to natural disasters.

Reacting to allegations to the case for which he is considering a plea bargain in an interview with Asaasepa Radio and shared on X by @prime_rakon on June 16, 2026, Wontumi detailed the circumstances surrounding the high-profile case, attributing the project's collapse to a natural disaster rather than misconduct.

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"On the back of the plea bargain, I want to clarify that in 2018 I went to the bank to secure funds in order to invest in a commercial farm I planned to establish in Sekyere. We applied as a company, provided the required collateral, and received a term sheet from the bank. They even directed us to an insurance company to cover the farm," he claimed.

"Unfortunately, heavy rains later destroyed the maize farm, a natural disaster beyond my control," he claimed.

He further recalled that in 2018, his company became first runner-up in the national Farmers’ Day celebration, a recognition he says demonstrates the scale and seriousness of the farm project.

"That same year, we became first runner-up in the Farmers’ Day celebration, which shows that the farm was not a small venture but a significant operation."

Wontumi dismissed suggestions of impropriety, insisting that he followed due process.

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According to the charge sheet filed on May 15, 2026, the accused allegedly obtained GH¢14.3 million from Exim Bank in 2018 after applying for a facility of GH¢18.7 million on behalf of Wontumi Farms Limited for a large-scale farming project.

The project for which the loan was accessed did not materialise as planned.

Wontumi, along with his supposed relative, Thomas Antwi-Boasiako, who is currently at large and Wontumi Farms Limited, face multiple charges for defrauding by false pretences, forgery, money laundering, and causing financial loss to a public institution.

He added that the narrative around the case should reflect that the loan was obtained through established banking procedures and backed by collateral, rather than involving any shortcuts or unlawful means.

"Who can simply walk into a bank and obtain a loan without going through the proper procedures? I followed the required process, step by step. This is the narrative I want to present regarding the Exim Bank case," he explained.

The state further claims documents were forged, equipment purchases were questionable, and significant portions of the funds were allegedly diverted into treasury bills and other personal or unrelated uses, resulting in total losses exceeding GH¢30 million.

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Meanwhile, Wontumi has pleaded not guilty and recently requested a plea bargain through his lawyers, a move the Attorney-General’s office has formally notified the court about.

Watch Wontumi's explanation below:

Chairman Wontumi sheds light on the circumstances surrounding the Exim Bank case, offering his account of the issues that led to the charges against him.#PrimeRakon pic.twitter.com/qEb7OpwapE

— Prime Rakon (@prime_rakon) June 16, 2026