An Accra High Court has ordered the state to file disclosures within 14 days in the EXIM Bank fraud case. This case involves Bernard Antwi Boasiako, widely known as Wontumi. The court's directive sets the stage for a full trial after plea bargaining attempts failed.
This order follows the collapse of negotiations between the prosecution and Boasiako’s lawyers. They had tried to reach an agreement through a plea-bargaining process. Reverend Joshua Sackey, a Principal State Attorney, informed the court that the parties could not agree. The court noted that two attempts at plea bargaining had failed, and the 30-day period for such discussions had ended.
The case centres on an alleged GHS 19 million loan facility obtained from EXIM Bank. This loan was reportedly for a maize farming project on 100 acres of land. Prosecutors claim the project was never undertaken. They also allege that documents were presented to support the purchase of agricultural machinery valued at GHS 4 million. The total loan facility is now alleged to have increased to about GHS 30 million, highlighting significant financial implications for a state-backed institution.
This case underscores ongoing concerns about loan recovery and accountability within Ghana's financial sector. EXIM Bank, established to support Ghana's export and import trade, plays a crucial role in economic development. Allegations of fraud involving such large sums can erode public trust and affect the bank's ability to secure future funding or support. Previous reports have highlighted challenges in managing state-backed loans and ensuring their proper utilisation, making this trial a critical test case for financial oversight.
Reverend Joshua Sackey stated, “We have not been able to reach an agreement in the plea bargaining. We seek the direction of the court to file our disclosures.” This statement confirms the prosecution's intent to proceed with a full legal process. Counsel for Boasiako, Mr. Samuel Atta Akyea, acknowledged the plea bargaining failure. He noted that such negotiations could still be pursued at any stage of the proceedings, even as the trial continues.
The court has directed the state to file its disclosures to prepare for a Case Management Conference (CMC). This conference is scheduled for September 22, 2026. The CMC will outline the trial's timeline and procedures. This development means the case will now move towards a detailed examination of evidence and arguments. The outcome could have significant implications for corporate governance and the management of public funds in Ghana. Investors and financial institutions will closely watch the proceedings for signals on regulatory enforcement and accountability.
Bernard Antwi Boasiako, a former Ashanti Regional Chairman of the New Patriotic Party (NPP), is accused alongside Thomas Antwi Boasiako. Thomas Antwi Boasiako is currently at large. Bernard Antwi Boasiako, who is already serving a prison sentence for other matters, has denied the charges. The trial will scrutinise the alleged misuse of public funds and the processes for securing and monitoring large loans from state institutions. This case serves as a reminder of the need for stringent oversight in public financial dealings and the potential for legal repercussions when such oversight is lacking.