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List of alleged properties and ‘fraudulent’ transactions linked to Kwabena Adu-Boahene

By Emmanuel Nkansah Abankwah On Mar 24, 2025 0

Ongoing investigations into Kwabena Adu-Boahene, the former Director-General of the National Signals Bureau (NSB), have exposed a vast network of properties and suspicious financial transactions allegedly linked to misappropriated state funds.

The Attorney-General and Minister of Justice, Dr Dominic Ayine, disclosed that Adu-Boahene embezzled millions of dollars from a $7 million cyber defence project and funnelled the funds into real estate investments in Ghana and abroad.

According to Dr Ayine, Adu-Boahene used a private company—secretly co-managed with his wife—to syphon state funds from the contract, accumulating significant personal wealth over the years.

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Authorities tracking Adu-Boahene’s financial dealings have compiled a comprehensive list of properties, bank transactions, and luxury assets suspected to have been acquired through illicit means.

Investigators revealed that shortly after signing the cyber defence system contract in 2020, Adu-Boahene transferred millions from the NSB’s accounts into private bank accounts, disguising the transactions as payments for government projects.

However, further scrutiny uncovered that the funds were redirected towards acquiring high-value properties and luxury assets.

Though officials have yet to release the full list of seized assets, preliminary findings indicate that Adu-Boahene and his wife own multiple properties in prime locations in Accra, as well as real estate investments abroad. Bank records also show large transfers to offshore accounts, raising further concerns about international money laundering.

The Attorney-General has vowed to prosecute Adu-Boahene and his accomplices, emphasising the government’s commitment to tackling corruption and recovering stolen state funds. Authorities are currently working with financial crime agencies to trace and freeze suspicious assets linked to the scandal.

Meanwhile, the case has intensified scrutiny on financial oversight mechanisms within the National Signals Bureau, prompting calls for stricter anti-corruption measures in state contracts.

As the investigation unfolds, the public awaits further revelations on the full extent of Adu-Boahene’s alleged financial misconduct.