Kwakye Ofosu details how GH¢50m COCOBOD payment to Wontumi was used

Government Spokesperson Felix Kwakye Ofosu has revealed details of financial transactions involving Bernard Antwi Boasiako, explaining how funds paid by the Ghana Cocoa Board (COCOBOD) were allegedly invested and later frozen as part of ongoing investigations.

Speaking on the Key Points on TV3 on Saturday, March 14, 2026, Kwakye Ofosu disclosed that an amount of GH¢50 million was paid to Chairman Wontumi by COCOBOD on January 8, 2025, for work he was said to have undertaken.

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Detailing how the money was subsequently used, the government spokesperson stated that a significant portion of the funds was invested in Treasury Bills, while another part was used to establish a private company.

“On the 8th of January 2025, GH¢50 million was paid to Chairman Wontumi by COCOBOD for some work he was said to have done. He moved GH¢30 million to purchase Treasury Bills and about GH¢23 million was used to set up an insurance company. All these have been frozen,” Kwakye Ofosu said.

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He noted that authorities have since frozen the assets connected to the transactions as investigations continue.

Investigations into the matter are ongoing, with officials expected to provide further updates as the process unfolds.

NA/AE

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