Court grants GH¢150m bail to Ex-Buffer Stock CEO, wife in GH¢60m theft case

The High Court in Accra has granted bail to the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Hanan Abdul-Wahab Aludiba, and his wife, Faiza Seidu Wuni, who are standing trial over allegations of stealing and causing financial loss exceeding GH¢60 million meant for food supply under the Free Senior High School (SHS) programme.

Appearing before Justice Audrey Kocuvi-Tay on Thursday, October 30, 2025, the couple pleaded not guilty to multiple charges, including stealing, money laundering, fraudulent and intentional financial loss to the state, and dissipation of public funds.

Aludiba was granted GH¢100 million bail with six sureties—four to be justified with landed property—while his wife received GH¢50 million bail with four sureties, three of which must also be justified.

The sureties are required to deposit copies of their Ghana Cards and update the court if they change addresses. The court further directed the accused to report to investigators every Wednesday until the case is concluded. The matter has been adjourned to November 27, 2025.

Defence lawyer Joseph Dindiok Kpemka urged the court to grant bail, citing Article 19(2)(c) of the 1992 Constitution, which guarantees the presumption of innocence until proven guilty. He argued that the accused had complied with all investigation conditions and posed no flight risk.

Deputy Attorney-General Dr. Justice Srem-Sai did not oppose the bail but highlighted the serious nature of the offences and the scale of public funds involved.

According to the Attorney-General’s charge sheet, Aludiba and NAFCO’s Head of Finance, Richard Sam-Asante—both signatories to the company’s accounts—caused a financial loss of GH¢50.9 million by transferring GH¢69.6 million to Sawtina Enterprise, a firm linked to a NAFCO regional manager.

Investigators allege that only 20% of the funds were used for legitimate food supply, with over GH¢50 million diverted to Aludiba and his associates. The former CEO is further accused of stealing an additional GH¢10 million and channeling funds into his wife’s company, Fa Hausa Ventures, and other personal firms, including Aludiba Foundation and Energy Partners Limited.

Investigations uncovered GH¢161.4 million in Fa Hausa Ventures’ accounts, allegedly invested in securities and other financial instruments for personal gain.

The Attorney-General also cited additional payments totaling GH¢5.49 million to Aludiba Enterprise, a company not licensed by NAFCO, and another GH¢251,050 transfer to Energy Partners Limited in July 2022, despite no record of service or supplies rendered.

The Finance Director, Richard Sam-Asante, is currently at large.

If convicted, the accused face severe penalties under Ghana’s Economic and Organised Crime laws for embezzlement and financial misconduct involving state funds.