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ORAL fallout: A-G files charges against former NAFCO CEO Hanan Adbul-Wahab, four others. (Prekeh Media)

October 29, 2025
Dr. Prekeh

The Attorney-General and Minister of Justice, Dr. Dominic Akuritinga Ayine, has filed multiple criminal charges against Hanan Abdul-Wahab Aludiba, former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), and four others, over alleged acts of stealing, money laundering, and causing financial loss to the state.

According to court documents filed at the High Court in Accra, the accused persons — Hanan Abdul-Wahab Aludiba, Faiza Seidu Wuni, Richard Sam-Asante (currently at large), The Aludiba Foundation, and Energy Partners Limited — are facing a total of 21 counts.

The offences include stealing, money laundering, defrauding by false pretences, conspiracy, and the intentional dissipation of public funds, all contrary to provisions of the Criminal Offences Act, 1960 (Act 29) and the Anti-Money Laundering Act, 2020 (Act 1044).

Per the charge sheet, Mr Aludiba, while serving as CEO of NAFCO between February 2017 and February 2025, is alleged to have diverted over GH¢50.8 million from the company’s funds, purportedly paid to a supplier, Sawtina Enterprise.

He is further accused of fraudulently transferring an additional GH¢5.49 million to Aludiba Enterprise, a business he personally owned, under the guise of supplying foodstuffs to the state company.

His co-accused, Faiza Seidu Wuni, is alleged to have laundered over GH¢13.2 million through her company, Fa-Hausa Ventures, and to have caused a financial loss of GH¢4.4 million through transactions with NAFCO under the business name Alqarni Enterprise.

The charge sheet also implicates The Aludiba Foundation and Energy Partners Limited, both linked to Hanan Abdul-Wahab, for their alleged involvement in laundering and receiving proceeds from the unlawful transactions.

The Attorney-General’s Office says the alleged offences resulted in significant financial losses to the Republic.

The scandal was part of the reports received by the Operation Recover All Loot (ORAL) committee submitted to the Office of the Attorney-General and Ministry of Justice for onward action.

The case has been filed in the High Court of Justice, Accra, with the first hearing expected to commence soon.

Bank of Ghana Confirms Weakening Dollar Supported Cedi Gains in 2025. (Prekeh Media) According to the report, the US dollar index fell by about 11 percent during the first half of 2025 — its worst performance since 1991 — due to a slowing US labor market and expectations of interest rate cuts by the Federal Reserve. The central bank noted that job creation in the United States had declined sharply, with unemployment rising to 4.3 percent by August. Markets were already anticipating rate cuts of between 25 and 50 basis points in September, with further easing expected in 2026. This shift prompted investors to move away from dollar-denominated assets. At a press briefing on September 18, Bank of Ghana Governor Johnson Asiama announced that the cedi had appreciated by 21 percent against the dollar as of September 12, 2025, supported by a strong external sector and increased foreign reserves. The report added that the dollar’s weakness provided some relief to emerging and developing economies, including Ghana, which had previously faced intense depreciation pressures. It also noted that more countries were beginning to settle oil, commodity, and trade transactions in currencies other than the US dollar, including the Chinese yuan. The Bank of Ghana explained that when the dollar weakens, it eases pressure on smaller currencies since international trade and debt obligations priced in dollars become cheaper. This dynamic contributed significantly to the cedi’s relative stability during parts of 2025. However, some local analysts argue that domestic factors played a greater role in the cedi’s resilience. They point to higher foreign exchange inflows from record gold prices, tighter monetary policy, and improved fiscal discipline as stronger influences than global currency trends. Gold prices surpassed $4,000 per ounce during 2025, significantly boosting Ghana’s export earnings and foreign reserves. The central bank’s report acknowledged that multiple factors supported the cedi’s stability, including a prudent monetary policy stance, effective liquidity management, fiscal consolidation, the currency’s own appreciation, and improved food supply. Inflation, it added, dropped to 11.5 percent in August — the lowest level in four years. Several international financial institutions, including Morgan Stanley, JP Morgan Asset Management, and Al Jazeera, also reported on the dollar’s historic decline in 2025, attributing it to tariff policies under the Trump administration, concerns over US fiscal sustainability, Federal Reserve policy uncertainty, and a weakening American labor market.

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